No registration required! (Why?)

Market Commentary for November 27, 2007


The Bulls were out in force today, holding the major indices in positive territory throughout the trading session. Economic data released today appeared to give the markets a boost higher, on the trading day. Trading volume improved today as day traders and investors move back into the markets after their holiday vacations.

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 215.00 points on the day to end the session at 12,958.44; the NYSE (New York Stock Exchange) posted a triple digit gain of 132.26 points to end the session at 9,521.76; the NASDAQ posted a gain of 39.81 points for a close at 2,580.80; the S&P 500 moved higher by 21.01 points to end at 1,428.23 and the RUSSELL 2000 moved higher by 8.20 points to close at 743.27. 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 1.45 points to close at 258.20 and the FTSE RAFI 1000 posted a gain of 73.45 points to close at 5,826.19.

Federal Housing Finance Board released information today: average October Home Purchase Price was $295,573 versus $306,258 October 2006 and second Consecutive Drop In average Home Price.

U.S. Conference Board November Consumer Confidence came in at 87.3 versus October reading of 95.2; Conference Board November Present Situation Index came in at 115.4 versus October reading of 118.0 and Conference Board November Expectations Index came in at 68.7 versus October reading of 80.0.

Richmond Fed data released today: November Retail Revenues Index fell by 19 versus October reading of a drop by 11; November Services Revenues Index fell by 2 versus October reading of 4 and November Manufacturing Index came in at 0 versus October reading of a drop by 5.

Commodities Markets
The trend was lower across the board again today for the Energy Sector: Light crude moved lower today by $3.28 to close at $94.42 a barrel; Heating Oil moved lower today by $0.06 at $2.66 a gallon; Natural Gas moved lower today by $0.20 to close at $7.82 per million BTU and Unleaded Gas moved lower today by $0.07 to close at $2.37 a gallon.

Metals Market ended the session lower across the board today: Gold moved sharply lower today by $12.50 to close at $814.00 a Troy ounce; Silver moved lower by $0.35 today to close at $14.49 per Troy ounce; Platinum moved sharply lower today by $15.10 to close at $1,453.50 per Troy ounce and Copper moved lower by $0.06 to close at $2.99 per pound.

On the Livestock and Meat Markets, the trend was lower across the board today: Lean Hogs ended the day lower by $0.38 to close at $62.20; Pork Bellies ended the day lower by $0.35 at $91.63; Live Cattle ended the day lower by $0.58 at $97.95 and Feeder Cattle ended the day lower by $0.38 at $110.58.

Other Commodities: Corn moved lower today by $2.50 to close at $400.75 and Soybeans moved sharply lower today by $12.75 to end the session at $1,091.00.

Bonds were lower across the board today: 2 year bond moved lower by 11/32 to close at 101; 5 year bond moved lower by 26/32 to close at 102 6/32 today; 10 year bond moved lower by 30/32 at 102 14/32 and the 30 year bond closed lower by 1 11/32 at 110 11/32 for the day.

The e-mini Dow ended the session today at 12,953 with a gain of 181 points on the trading session. The total Dow Exchange Volume for the day came in at 221,978 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.

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 6,993,257; Open Interest for Futures moved lower by 2,860 points to close at 10,387,437; the Open Interest for Options moved higher by 223,081 points to close at 5,893,956 and the Cleared Only moved lower by 13 points to close at 15,308 for a total Open Interest on the day of 16,296,701 for a total Change on the day with a gain of 220,208 points.

On the NYSE today, advancers came in at 2,188; decliners totaled 1,120; unchanged came in at 74; new highs came in at 35 and new lows came in at 433. Active trading stocks on the Big Board today: Arbitron Incorporated (ARB) moved sharply lower on the session to post a loss of 7.21 points to shed 14.74% with a high on the trading session of $42.16, a low of $34.81 for a final trading price of $41.70; HDFC Bank Limited (HDB) posted a favorable gain on the session by 8.08 points with a high on the trading session of $127.00, a low of $120.07 for a closing price of $126.63; Donaldson Company Incorporated (DCI) moved higher by 3.39 points for a closing price at $43.45; Genesco Incorporated (GCO) posted a loss of 4.73 points to shed 15.68% with a final trading price at $25.44 and Goldman Sachs Group Incorporated (GS) provided nice trading activity for the active day trader with a high of $213.98, a low of $206.19 with a gain on the day of 5.88 points for a final trading price on the day of $213.33.

On the NASDAQ today, advanced totaled 1,680; decliners totaled 1,332; unchanged came in at 124; new highs came in at 19 and new lows came in at 269. Active trading stocks for the day consisted of: Research In Motion Limited (RIMM) moved higher on the session by 4.14 points with a high on the day of $115.91, a low of $110.38 with a closing price at $115.68; Google Incorporated (GOOG) posted a gain of 7.57 points on the day with a high on the trading session of $676.43, a low of $674.87 with a ending price of $673.57; Baidu.com Incorporated (BIDU) rallied higher on the day with a gain of 15.20 points for a high on the session of $342.20, a low of $320.56 for a closing price at $341.34 and Garmin Limited (GRMN) bolted higher by 6.29 points with a high on the day of $103.70, a low of $97.13 for a final trading price at $103.00.

Thanks for reading
Millennium-Traders