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Market Commentary for June 11, 2007


A rather quiet trading session today with light trading volume and moderate trading ranges. The major indices battled by the Bulls and the Bears had a mixed close, as was the entire trading session. At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) moved higher with a minute gain of 0.57 points to end the session at 13,424.96; the NYSE
(New York Stock Exchange) posted a gain of 15.66 points to end at 9,841.73 the NASDAQ posted a loss of 1.39 points today for a close at 2,572.15; the S&P 500 moved higher by 1.45 points to end at 1,509.12 and the RUSSELL 2000 moved lower by 2.13 points to close at 833.18 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 1.03 to close at 257.80 and the FTSE RAFI 1000 posted a gain by 11.29 points to close at 6,338.85.

Federal Reserve Board Member and President of the Federal Reserve Bank of Cleveland, Sandra Pianalto commented today: fiscal, liquidity imbalances among future risk; rising oil prices may boost CPI expectations and inflation expectations well anchored.

Economic data released for the day: N/A

Commodities Markets

The trend was mostly higher across the board today for the Energy Sector: Light crude moved higher by $1.21 today to close at $65.97 a barrel; Heating Oil moved higher by $0.03 to close at $1.93 a gallon; Natural Gas moved lower by $0.06 to close at $7.61 million BTU and Unleaded Gas moved higher by $0.02 at $2.15 a gallon.

Metals Market ended the session higher across the board today: Gold moved nicely higher today for a gain of $8.70 to close at $659.00 an ounce; Silver closed higher by $0.24 at $13.28 an ounce; Platinum moved nicely higher today by $11.20 to close at $1,298.00 an ounce and Copper moved higher today by $0.10 to end at $3.36 per pound.

On the Livestock and Meat Markets, the trend was mostly higher across the board today: Lean Hogs ended the day higher by 0.65 to close at 74.40; Pork Bellies ended the day higher by 0.70 to close 96.05; Live Cattle moved higher by 0.40 to close at 90.00 and Feeder Cattle ended the lower by 0.65 again today to close at 107.55.

Other Commodities: Corn moved strongly higher today for a gain of 13.75 to close at 406.00 and Soybeans moved nicely higher for a gain of 8.50 points to end the day at 830.00.

The e-mini Dow ended the session higher today by 11 points to close at 13,556. The total Dow Exchange Volume for the day came in at 246,600 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 lower across the board today: 2 year bond closed with no change at 99 24/32; 5 year bond closed lower by 2/32 at 98 20/32; 10 year bond closed lower by 10/32 at 94 31/32 and the 30 year bond closed lower by 21/32 at 92 14/32.

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 7,116,589; Open Interest for Futures moved higher by 35,665 points to close at 10,036,800; the Open Interest for Options moved higher by 339,487 points to close at 7,812,036 and the Open Interest for OTC moved higher by 60 points to close at 5,119 for a total Open Interest of 17,853,955 for a total gain on the day by 375,212.

On the NYSE today, advancers came in at 1,605; decliners totaled 1,617; unchanged came in at 101; new highs came in at 66 and new lows came in at 60. Gainers and losers for the day on the NYSE: Petroleo Brasileiro S.A. (PBR) tacked on 2.34 points for a closing price on the session of $111.88; Chicago Mercantile Exchange Holdings (CME) moved higher by 7.44 points to close the day on the Big Board at $557.07; Cascade Corporation (CAE) moved higher by 3.65 points for a trading day close price of $77.38; Cleveland Cliffs Incorporated (CLF) moved lower on the trading session for a loss of 4.75 points to close at $79.88; EMCOR Group Incorporated (EME) pounced higher on the session for a gain of 5.42 points to end the day at $70.10 and United States Steel Corporation (X) shed 7.22 points on the trading day for a closing price on the day of $117.82.

On the NASDAQ today, advanced totaled 1,394 decliners totaled 1,638; unchanged came in at 129; new highs came in at 80 and new lows came in at 38. Gainers and losers for the day on the NASDAQ: Apple Incorporated (AAPL) shed 1.57 points to end the trading day at $122.91; Medivation Incorporated (MDVN) rallied higher on the trading day for a nice gain of 26.52% to tack on 4.29 points to close the session at $20.47 and Crocs Incorporated (CROX) gained strength today by 4.39 points to end the session at $90.95.

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Millennium-Traders