No registration required! (Why?)

Market Commentary for June 04, 2007


Even though there was a big sell of in China amidst panic selling, trading activity on Wall Street was rather muted, through out the trading day. The Shanghai Composite Index posted a loss of 8.3% was seen by the close of the session. At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) moved higher by 8.21 points to end the session at 13,676.32; the NYSE (New York Stock Exchange) posted a gain of 21.45 points to end at 10,064.05 the NASDAQ posted a gain of 4.37 points today for a close at 2,618.29; the S&P 500 moved higher by 2.84 points to end at 1,539.18 and the RUSSELL 2000 moved higher by 1.68 points to close at 840.01 The FTSE All-World Index ex-US (top Large/Mid Cap aggregate from over 2,700 stocks from the FTSE Global Equity Index Series (GEIS) which covers 90% of the worlds investable market capitalization) moved higher by 0.33 to close at 263.79 and the FTSE RAFI 1000 moved higher by 12.90 to close at 6,467.52.

Economic data released for the day:

Factory Orders: Dollar level of new Factory Orders for both durable and non-durable goods. As reported today: U.S. Factory Orders rose by 0.3% in April compared to consensus of an increase by 0.7%; April Factory Orders Excluding Transportation rose by 0.7%; April Factory Orders Excluding Defense rose by 0.3%; April Durable Goods was revised to an increase by 0.8% from an increase by 0.6% and March Factory Orders was revised to an increase by 4.1% from an increase by 3.1%.

Commodities Markets

The trend was mostly higher across the board today for the Energy Sector: Light crude moved higher by $1.13 today to close at $66.21 a barrel; Heating Oil closed higher by $0.04 again today to close at $1.96 a gallon; Natural Gas moved higher by $0.31 at $8.19 million BTU and Unleaded Gas moved lower by $0.01 to close at $2.24 a gallon.

Metals Market ended the session mostly higher across the board today: Gold moved lower by $0.60 to close at $676.30 an ounce; Silver closed higher by $0.01 at $13.75 an ounce; Platinum moved higher today by $7.41 to close at $1,303.00 an ounce and Copper moved higher today by $0.06 to end at $3.47 per pound.

On the Livestock and Meat Markets, the trend was mixed across the board today: Lean Hogs ended the day higher by 0.23 to close at 75.38; Pork Bellies ended the day lower by 2.50 to close 96.20; Live closed at 90.68 and Feeder Cattle ended the higher by 0.78 to close at 111.03.

Other Commodities: Corn moved ended the day at 383.00 and Soybeans moved lower today for a loss of 1.75 points to end at 815.75.

The e-mini Dow ended the session lower by 16 points to close at 13,673. The total Dow Exchange Volume for the day came in at 118,946 which are comprised of Electronic, Open Auction and Cash Exchange. Traders should review workshops available at the CBOT (Chicago Board of Trade) Educational in-person seminars schedules available on CBOT (Chicago Board of Trade) website.

Bonds were mostly higher across the board today: 2 year bond closed at 99 26/32; 5 year bond closed higher by 1/32 at 99 9/32; 10 year bond closed higher by 5/32 at 96 20/32 and the 30 year bond closed higher by 16/32 at 95 24/32.

The end of day results for the CBOT (Chicago Board of Trade) which is comprised of the total Exchange Volume for Futures and Options (EVFO) including Electronic, Open Auction and Cash Exchange ended the day at 5,703,729; Open Interest for Futures moved higher by 3,598 points to close at 10,185,730; the Open Interest for Options moved higher by 176,174 points to close at 6,782,320 and the Open Interest for OTC moved higher by 130 points to close at 5,089 for a total Open Interest of 16,973,139 for a total gain on the day by 179,902.

On the NYSE today, advancers came in at 1,869; decliners totaled 1,381; unchanged came in at 135; new highs came in at 477 and new lows came in at 29. Gainers and losers for the day on the NYSE: LandAmerica Financial Group Incorporated (LFG) posted a follow through from Fridays trading session for another gain on the trading day of 2.24 points to close at $105.46; NAVTEQ Corporation (NVT) moved higher by 2.13 points to end the trading day at $44.70; Intercontinental Exchange Incorporated (ICE) posted a gain of 6.70 points to close the session at $149.67; Terra Nitrogen Company (TNH) posted a gain on the trading session of 4.92 points to close at $91.52 and Uniao de Bancos Brasileiros SZ (UBB) shed 3.38 points for a closing price at $112.63.

On the NASDAQ today, advanced totaled 1,586 decliners totaled 1,479; unchanged came in at 137; new highs came in at 253 and new lows came in at 42. Gainers and losers for the day on the NASDAQ: Digene Corporation (DIGE) rallied higher on the trading day for a gain of 30.15% to move higher by 13.49 points for a closing price of $58.26; Onyx Pharmaceuticals Incorporated (ONXX) made a nice move higher to tack on a gain of 2.82 points for a closing price at the closing bell of $33.68; Force Protection Incorporated (FRPT) moved lower by 2.99 points to shed 10.90% to end the trading day at $24.43; Google Incorporated (GOOG) bolted higher on the session for a gain of 6.15 points to end the day at $506.55; Atlas America Incorporated (ATLS) rallied higher for a gain of 11.95% to climb higher by 6.12 points for a closing price of $57.32 and Intuitive Surgical Incorporated (ISRG) gained 3.15 points for a close at $142.18.

Thanks for reading
Millennium-Traders