Market Commentary for January 8, 2008
At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) posted a triple digit loss of 238.34 points on the day to end the session at 12,589.15; the NYSE (New York Stock Exchange) posted a triple digit loss of 136.16 points to end the session at 9,326.08; the NASDAQ posted a loss of 58.95 points for a close at 2,440.51; the S&P 500 posted a loss of 25.99 points for a close at 1,390.19 and the RUSSELL 2000 moved lower by 19.09 points to close at 704.86. 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 loss of 0.84 points to close at 253.99 and the FTSE RAFI 1000 posted a triple digit loss of 102.200 points to close at 5,644.81.
On the NYSE today, advancers came in at 1,220; decliners totaled 1,950; unchanged came in at 85; new highs came in at 55 and new lows came in at 449.
Momentum stocks traded by active Day Traders on the NYSE today: CME Group Incorporated (CME) shed 16.07 points with a high on the day of $624.80, a low of $593.75 for a closing price at $598.00; MedcoHealth Solutions Incorporated (MHS) shed 13.46 points with a high on the day of $108.70, a low of $102.74 for a closing price at $104.48; InterContinental Exchange, Incorporated (ICE) gained 0.95 points with a high on the day of $174.73, a low of $164.78 for a closing price at $165.10; Mastercard Incorporated (MA) shed 2.51 points with a high on the day of $207.70, a low of $195.99 for a closing price at $198.00; Petroleo Brasileiro (PBR) gained 2.74 points with a high on the day of $114.98, a low of $109.81 for a closing price at $110.35; Rio Tinto plc (RTP) shed 8.22 points with a high on the day of $411.49 a low of $393.99 for a closing price at $394.10; KB Home (KBH) shed 1.70 points with a high on the day of $18.86, a low of $16.67 for a closing price at $16.78; Transocean Incorporated (RIG) shed 1.10 points with a high on the day of $143.08, a low of $138.40 for a closing price at $139.00; The Bear Stearns Companies, Incorporated (BSC) shed 5.08 points with a high on the day of $78.04, a low of $70.60 for a closing price at $71.17; Ambac Financial Group, Incorporated (ABK) shed 3.92 points with a high on the day of $23.82, a low of $18.37 for a closing price at $19.56; SUPERVALU Incorporated (SVU) shed 5.68 points with a high on the day of $33.25, a low of $28.18 for a closing price at $28.61 and Countrywide Financial Corporation (CFC) shed 2.17 points with a high on the day of $7.82, a low of $5.05 for a closing price at $5.47.
On the NASDAQ today, advanced totaled 935; decliners totaled 2,097; unchanged came in at 104; new highs came in at 37 and new lows came in at 433.
Momentum stocks traded by active Day Traders on the NASDAQ today: Akeena Solar Incorporated (AKNS) shed 1.87 points with a high on the day of $14.15, a low of $11.91 for a closing price at $12.17; ISIS Pharmaceuticals Incorporated (ISIS) gained 4.00 points with a high on the day of $20.15, a low of $18.34 for a closing price at $18.58; Apple Incorporated (AAPL) shed 6.39 points with a high on the day of $182.46, a low of $170.80 for a closing price at $171.25; Baidu.com Incorporated (BIDU) shed 6.39 points with a high on the day of $359.74, a low of $341.50 for a closing price at $345.21; Leap Wireless International Incorporated (LEAP) gained 2.32 points with a high on the day of $45.60, a low of $39.80 for a closing price at $40.16; Pharmasset, Incorporated (VRUS) gained 6.62 points with a high on the day of $33.90, a low of $19.25 for a closing price at $26.86; Monster Worldwide Inc (MNST) gained 0.25 points with a high on the day of $29.75, a low of $27.56 for a closing price at $27.85; JA Solar Holdings Corporation Limited (JASO) gained 4.22 points with a high on the day of $75.35, a low of $68.13 for a closing price at $72.27; Research In Motion Limited (RIMM) shed 3.39 points with a high on the day of $103.84, a low of $95.69 for a closing price at $96.44; First Solar Incorporated (FSLR) shed 6.34 points with a high on the day of $263.70 a low of $228.74 for a closing price at $230.50; ViaSat Incorporated (VSAT) shed 5.44 points with a high on the day of $30.94, a low of $26.70 for a closing price at $26.71; Canadian Solar Incorporated (CSIQ) gained 0.31 points with a high on the day of $26.49, a low of $23.14 for a closing price at $24.31; Express Scripts Incorporated (ESRX) shed 1.23 points with a high on the day of $79.10, a low of $75.00 for a closing price at $76.35; Schnitzer Steel Industries Incorporated (SCHN) shed 6.30 points with a high on the day of $61.83, a low of $55.15 for a closing price at $55.55; Intuitive Surgical Incorporated (ISRG) shed 28.25 points with a high on the day of $292.63, a low of $270.65 for a closing price at $271.73; Google Incorporated (GOOG) shed 17.57 points with a high on the day of $659.96, a low of $631.00 for a closing price at $631.68 and China Medical Technologies Inc (CMED) gained 2.87 points with a high on the day of $52.10, a low of $47.68 for a closing price at $49.69.
As reported by the National Association of Realtors today: U.S. November Pending Home Sales fell 19.2% compared to November 2006 and U.S. Pending Home Sales Index fell 2.6% in November.
Energy Information Administration data released today: First Quarter 2008 average U.S. Heating Oil Revised higher by 13 cents; First Quarter 2008 average U.S. Heating Oil seen at $3.36 per Gallon; First Quarter 2008 average U.S. Heating Oil Up 34% from year ago; First Quarter 2008 average Retail Gasoline Revised higher by 12 cents to $3.14 per Gallon; Global Spare Oil Capacity to double to 4 Million Barrels per Day by 2010; Global Oil Market to stay in 2008, may ease slightly in 2009; First Quarter 2008 average U.S. Diesel Fuel to Rise 34% over year ago; OECD 2008 Oil Use seen rising by 1.9% versus 1.6% estimate Month ago; First Quarter 2008 average US Diesel seen at $3.41 per Gallon which was revised higher by 12 cents; End 2007 OECD Oil Inventories Slightly under 5-Year average; 2008 WTI To average $87/Barrel Amid 'Tight and Volatile' Market; End-March 2008 U.S. Distillate Stocks seen below 5-Year average; End-March 2008 U.S. Gasoline Stocks seen above 5-Year average; 2008 WTI $87 Barrel Price revised higher by 2.8% to $87.21 per Barrel; U.S. Fourth Quarter 2007 Oil Use revised lower by 0.5% in the month; Gasoline, Diesel to average more than $3 per Gallon in 2008 and 2009. Additional, Spot Crude to average more than $92 Barrel during First Quarter 2008.
Commodities Markets
The trend was mostly higher across the board today for the Energy Sector: Light crude moved higher today by $1.24 to close at $96.33 a barrel; Heating Oil moved higher today by $0.04 to close at $2.64 a gallon; Natural Gas moved higher today by $0.10 to close at $7.98 per million BTU and Unleaded Gas moved higher today by $0.04 to close at $2.47 a gallon.
Metals Market ended the session higher across the board today: Gold moved sharply higher today by $18.30 to close at $880.30 a Troy ounce; Silver moved higher today by $0.53 to close at $15.82 per Troy ounce; Platinum moved sharply higher today by $29.40 to close at $1,560.50 per Troy ounce and Copper moved higher today by $0.16 to close at $3.30 per pound.
On the Livestock and Meat Markets, the trend was mostly higher across the board today: Lean Hogs ended the day lower by $0.70 to close at $55.70; Pork Bellies ended the day higher by $0.08 at $84.20; Live Cattle ended the day higher by $0.05 at $94.60 and Feeder Cattle ended the day higher by $0.35 at $103.70.
Other Commodities: Corn ended the day lower by $0.50 at $466.25 and Soybeans moved sharply lower today by $12.75 to end the session at $1,249.75.
Bonds were higher across the board today: 2 year bond moved higher by 3/32 to close at 101 1/32; 5 year bond moved higher by 8/32 to close at 102 13/32 today; 10 year bond moved higher by 10/32 to close at 103 22/32 and the 30 year bond moved higher by 8/32 to close at 111 31832 on the day.
The e-mini Dow ended the session today at 12,637 with a loss of 241 points on the trading session. The total Dow Exchange Volume for the day came in at 211,448 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 3,480,478; Open Interest for Futures moved lower by 3,975 points to close at 9,563,650; the Open Interest for Options moved higher by 169,149 points to close at 6,837,174 and the Cleared Only closed lower by 35 points to close at 20,335 for a total Open Interest on the day of 16,421,159 for a total Change on the day with a gain of 165,139 points.
Thanks for reading
Millennium-Traders
On the NYSE today, advancers came in at 1,220; decliners totaled 1,950; unchanged came in at 85; new highs came in at 55 and new lows came in at 449.
Momentum stocks traded by active Day Traders on the NYSE today: CME Group Incorporated (CME) shed 16.07 points with a high on the day of $624.80, a low of $593.75 for a closing price at $598.00; MedcoHealth Solutions Incorporated (MHS) shed 13.46 points with a high on the day of $108.70, a low of $102.74 for a closing price at $104.48; InterContinental Exchange, Incorporated (ICE) gained 0.95 points with a high on the day of $174.73, a low of $164.78 for a closing price at $165.10; Mastercard Incorporated (MA) shed 2.51 points with a high on the day of $207.70, a low of $195.99 for a closing price at $198.00; Petroleo Brasileiro (PBR) gained 2.74 points with a high on the day of $114.98, a low of $109.81 for a closing price at $110.35; Rio Tinto plc (RTP) shed 8.22 points with a high on the day of $411.49 a low of $393.99 for a closing price at $394.10; KB Home (KBH) shed 1.70 points with a high on the day of $18.86, a low of $16.67 for a closing price at $16.78; Transocean Incorporated (RIG) shed 1.10 points with a high on the day of $143.08, a low of $138.40 for a closing price at $139.00; The Bear Stearns Companies, Incorporated (BSC) shed 5.08 points with a high on the day of $78.04, a low of $70.60 for a closing price at $71.17; Ambac Financial Group, Incorporated (ABK) shed 3.92 points with a high on the day of $23.82, a low of $18.37 for a closing price at $19.56; SUPERVALU Incorporated (SVU) shed 5.68 points with a high on the day of $33.25, a low of $28.18 for a closing price at $28.61 and Countrywide Financial Corporation (CFC) shed 2.17 points with a high on the day of $7.82, a low of $5.05 for a closing price at $5.47.
On the NASDAQ today, advanced totaled 935; decliners totaled 2,097; unchanged came in at 104; new highs came in at 37 and new lows came in at 433.
Momentum stocks traded by active Day Traders on the NASDAQ today: Akeena Solar Incorporated (AKNS) shed 1.87 points with a high on the day of $14.15, a low of $11.91 for a closing price at $12.17; ISIS Pharmaceuticals Incorporated (ISIS) gained 4.00 points with a high on the day of $20.15, a low of $18.34 for a closing price at $18.58; Apple Incorporated (AAPL) shed 6.39 points with a high on the day of $182.46, a low of $170.80 for a closing price at $171.25; Baidu.com Incorporated (BIDU) shed 6.39 points with a high on the day of $359.74, a low of $341.50 for a closing price at $345.21; Leap Wireless International Incorporated (LEAP) gained 2.32 points with a high on the day of $45.60, a low of $39.80 for a closing price at $40.16; Pharmasset, Incorporated (VRUS) gained 6.62 points with a high on the day of $33.90, a low of $19.25 for a closing price at $26.86; Monster Worldwide Inc (MNST) gained 0.25 points with a high on the day of $29.75, a low of $27.56 for a closing price at $27.85; JA Solar Holdings Corporation Limited (JASO) gained 4.22 points with a high on the day of $75.35, a low of $68.13 for a closing price at $72.27; Research In Motion Limited (RIMM) shed 3.39 points with a high on the day of $103.84, a low of $95.69 for a closing price at $96.44; First Solar Incorporated (FSLR) shed 6.34 points with a high on the day of $263.70 a low of $228.74 for a closing price at $230.50; ViaSat Incorporated (VSAT) shed 5.44 points with a high on the day of $30.94, a low of $26.70 for a closing price at $26.71; Canadian Solar Incorporated (CSIQ) gained 0.31 points with a high on the day of $26.49, a low of $23.14 for a closing price at $24.31; Express Scripts Incorporated (ESRX) shed 1.23 points with a high on the day of $79.10, a low of $75.00 for a closing price at $76.35; Schnitzer Steel Industries Incorporated (SCHN) shed 6.30 points with a high on the day of $61.83, a low of $55.15 for a closing price at $55.55; Intuitive Surgical Incorporated (ISRG) shed 28.25 points with a high on the day of $292.63, a low of $270.65 for a closing price at $271.73; Google Incorporated (GOOG) shed 17.57 points with a high on the day of $659.96, a low of $631.00 for a closing price at $631.68 and China Medical Technologies Inc (CMED) gained 2.87 points with a high on the day of $52.10, a low of $47.68 for a closing price at $49.69.
As reported by the National Association of Realtors today: U.S. November Pending Home Sales fell 19.2% compared to November 2006 and U.S. Pending Home Sales Index fell 2.6% in November.
Energy Information Administration data released today: First Quarter 2008 average U.S. Heating Oil Revised higher by 13 cents; First Quarter 2008 average U.S. Heating Oil seen at $3.36 per Gallon; First Quarter 2008 average U.S. Heating Oil Up 34% from year ago; First Quarter 2008 average Retail Gasoline Revised higher by 12 cents to $3.14 per Gallon; Global Spare Oil Capacity to double to 4 Million Barrels per Day by 2010; Global Oil Market to stay in 2008, may ease slightly in 2009; First Quarter 2008 average U.S. Diesel Fuel to Rise 34% over year ago; OECD 2008 Oil Use seen rising by 1.9% versus 1.6% estimate Month ago; First Quarter 2008 average US Diesel seen at $3.41 per Gallon which was revised higher by 12 cents; End 2007 OECD Oil Inventories Slightly under 5-Year average; 2008 WTI To average $87/Barrel Amid 'Tight and Volatile' Market; End-March 2008 U.S. Distillate Stocks seen below 5-Year average; End-March 2008 U.S. Gasoline Stocks seen above 5-Year average; 2008 WTI $87 Barrel Price revised higher by 2.8% to $87.21 per Barrel; U.S. Fourth Quarter 2007 Oil Use revised lower by 0.5% in the month; Gasoline, Diesel to average more than $3 per Gallon in 2008 and 2009. Additional, Spot Crude to average more than $92 Barrel during First Quarter 2008.
Commodities Markets
The trend was mostly higher across the board today for the Energy Sector: Light crude moved higher today by $1.24 to close at $96.33 a barrel; Heating Oil moved higher today by $0.04 to close at $2.64 a gallon; Natural Gas moved higher today by $0.10 to close at $7.98 per million BTU and Unleaded Gas moved higher today by $0.04 to close at $2.47 a gallon.
Metals Market ended the session higher across the board today: Gold moved sharply higher today by $18.30 to close at $880.30 a Troy ounce; Silver moved higher today by $0.53 to close at $15.82 per Troy ounce; Platinum moved sharply higher today by $29.40 to close at $1,560.50 per Troy ounce and Copper moved higher today by $0.16 to close at $3.30 per pound.
On the Livestock and Meat Markets, the trend was mostly higher across the board today: Lean Hogs ended the day lower by $0.70 to close at $55.70; Pork Bellies ended the day higher by $0.08 at $84.20; Live Cattle ended the day higher by $0.05 at $94.60 and Feeder Cattle ended the day higher by $0.35 at $103.70.
Other Commodities: Corn ended the day lower by $0.50 at $466.25 and Soybeans moved sharply lower today by $12.75 to end the session at $1,249.75.
Bonds were higher across the board today: 2 year bond moved higher by 3/32 to close at 101 1/32; 5 year bond moved higher by 8/32 to close at 102 13/32 today; 10 year bond moved higher by 10/32 to close at 103 22/32 and the 30 year bond moved higher by 8/32 to close at 111 31832 on the day.
The e-mini Dow ended the session today at 12,637 with a loss of 241 points on the trading session. The total Dow Exchange Volume for the day came in at 211,448 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 3,480,478; Open Interest for Futures moved lower by 3,975 points to close at 9,563,650; the Open Interest for Options moved higher by 169,149 points to close at 6,837,174 and the Cleared Only closed lower by 35 points to close at 20,335 for a total Open Interest on the day of 16,421,159 for a total Change on the day with a gain of 165,139 points.
Thanks for reading
Millennium-Traders
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