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Market Commentary for September 13, 2007


The Bulls were clearly in control during the trading session today. Trading activity was moderate, as was trading volume as we move toward the end of the trading week. Day Traders and Investors participated in the positive move of the markets, amidst light to moderate trading volume. With a full load of economic data on tap for tomorrow, we have the possibility of a very nice active trading day.

At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) posted a triple digit gain of 133.23 points on the day to end the session at 13,424.88; the NYSE (New York Stock Exchange) posted a gain of 79.39 points to end the session at 9,678.12; the NASDAQ posted a gain of 8.99 points for a close at 2,601.06; the S&P 500 moved higher with a minor gain of 12.39 points to end at 1,483.95 and the RUSSELL 2000 moved higher by 2.45 points to close at 780.35. 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 world’s investable market capitalization) posted a gain of 1.37 points to close at 256.62 and the FTSE RAFI 1000 posted a gain of 58.33 points to close at 6,116.26.

U.S. July Governmental Surplus was revised at $36.45 Billion and U.S. Government posted a $116.97 Billion total deficit in August.

Economic Data:

Jobless Claims: A weekly compilation of new unemployment claims to show the number of individuals who filed for unemployment insurance for the first time. The condition of the labor market is determined by an increase of the number of claims which suggests a deteriorating labor market. Data released today: U.S. Jobless Claims rose by 4K to 319K for week of September 8th compared to consensus of an increase by 2K and U.S. Continuing Claims for week of September 1st fell by 6K to 2,585,000.

EIA Natural Gas Report: Weekly information provided by the EIA (Energy Information Administration) on natural gas stock piles in underground storage in the United States and three regions of the country. Prices for natural gas products are determined by the level of inventories. Actual weekly change for week of September 7th came in at 64 Bcf.

Commodities Markets

The trend was mixed across the board today for the Energy Sector: Light crude moved higher today by $0.18 to close at $80.09 a barrel; Heating Oil ended the session with no change at $2.22 a gallon; Natural Gas moved lower today by $0.41 to close at $6.03 per million BTU and Unleaded Gas moved higher today by $0.03 again to close at $2.05 a gallon.

Metals Market ended the session mostly lower again across the board today: Gold moved lower today by $2.80 to close at $717.90 an ounce; Silver moved lower by $0.11 to close at $12.68 per ounce; Platinum moved lower today by $4.80 to close at $1,299.90 an ounce and Copper closed higher by $0.04 at $3.40 per pound.

On the Livestock and Meat Markets, the trend was mixed across the board today: Lean Hogs ended the day higher by 0.85 to close at 68.85; Pork Bellies ended the day higher by 2.25 at 89.48; Live Cattle ended the day lower by 0.05 to closer at 94.68 and Feeder Cattle ended the day lower by 0.18 at 116.53.

Other Commodities: Corn moved sharply lower on the day to post a nice loss of 9.75 at 346.75 and Soybeans moved higher today with a gain of 2.75 points to end the session at 941.25.

The e-mini Dow ended the session today at 13,531 with a triple digit gain of 107 points on the trading session. The total Dow Exchange Volume for the day came in at 177,408 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 lower for third day in a row, across the board today: 2 year bond closed lower by 5/32 at 99 29/32; 5 year bond closed lower by 10/32 at 99 24/32; 10 year bond moved lower by 15/32 today to close at 102 7/32 and the 30 year bond moved lower by 23/32 to close at 104 7/32 for the day.

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 4,023,468; Open Interest for Futures moved higher by 4,787 points to close at 8,921,558; the Open Interest for Options moved higher by 138,427 points to close at 8,108,441 and the Cleared Only closed with no change at 8,344 for a total Open Interest on the day of 17,038,343 with a total Change on the day of a gain of 143,194 points.

On the NYSE today, advancers came in at 1,814; decliners totaled 1,379; unchanged came in at 92; new highs came in at 73 and new lows came in at 85. Gainers and losers for the day as well as active day trading stocks on the NYSE: CME Group Incorporated (CME) posted a favorable gain on the trading session by 7.54 points with a high on the day of $553.72, a low of $545.90 with a final trading price of $550.75; Rio Tinto plc (RTP) provided action today with a gain on the session of 5.00 points with a high on the day of $305.70, a low of $297.96 with a final trading price of $303.00; Wimm-Bill-Dann Foods OJSC (WBD) bounced higher today with a gain of 5.58 points with a closing price on the session of $113.42; POSCO (PKX) romped higher on the trading session to post a gain of 8.83 points with a high on the day of $166.32, a low of $157.00 with a closing price on the day of $162.15; General Cable Corporation (BGC) moved higher on the trading day by 4.81 points with a high on the session of $64.09, a low of $57.33 with a final trading price on the day of $61.83; Goldman Sachs Group Incorporated (GS) climbed higher today to post a gain of 5.62 points with a high on the day of $196.04, a low of $183.72 for a closing price of $188.15 and Freeport-McMoRan Copper & Gold (FCX) posted a gain of 3.70 points with a high on the day of $96.47, a low of $91.98 with a final trading price of $95.20.

On the NASDAQ today, advanced totaled 1,504; decliners totaled 1,461 unchanged came in at 140; new highs came in at 63 and new lows came in at 71. Gainers and losers for the day as well as, active day trading stocks on the NASDAQ: Cephalon Incorporated (CEPH) moved lower on the session by 3.99 points with a high on the day of $77.25, a low of $71.86 with a closing price on the session of $72.55; Blue Nile Incorporated (NILE) bolted higher on the session to post a gain of 6.10 points with a high on the day of $88.04, a low of $81.56 to close the day at $87.10; Foster Wheeler Limited (FWLT) moved higher by 4.43 points for a closing price on the day of $125.74 and Sears Holdings Corporation (SHLD) climbed higher by 4.26 points with a high of $135.78, a low of $129.53 to close the day at $133.78.

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Millennium-Traders