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Market Commentary for April 05, 2007

We’d like to take this time to wish all of our valuable readers a very enjoyable Good Friday as well as, a very Happy Easter, this coming weekend.

Trading volume was light today, as was to be expected, a day ahead of the Good Friday holiday. The U.S. Stock Markets are closed although the Bond and Futures markets will remain open.

Trading ranges held firmly today also ahead of the upcoming Easter holiday weekend. Many day traders and investors headed out early for the upcoming extended holiday weekend, creating a quiet session, to end the trading week. At the closing bell, here is how the major indices ended the session: the DOW
(Dow Jones Industrial Average) moved higher today by 30.15 points to end the session at 12560.20 after dipping into the red zone, from the open until the noon hour; the NYSE (New York Stock Exchange) moved higher by 28.01 points to end at 9426.57; the NASDAQ moved higher by 12.65 points today for a close at 2471.34; the S&P 500 moved higher by 4.39 points to end at 1443.76 and the RUSSELL 2000 moved higher by 2.56 points to close at 813.35. 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 worlds investable market capitalization) moved higher by 0.89 to close at 248.34 and the FTSE RAFI 1000 moved higher by 20.23 to close at 6070.73.

Chicago Fed Index: February Midwest Auto Output was higher by 2.3% versus January; Chicago Fed Midwest Manufacturing February Index was higher by 0.6% versus a year ago; Chicago Fed January Midwest Index was revised to 102.8 from 102.1 and Chicago Fed Midwest Mfg Index was higher by 0.9% in February versus January.

Economic data released for the day:

Monster Employment Index: Job postings from 1,500 web sites create an index of job availability. This index is similar to The Conference Board’s help wanted index however; Monster Employment Index is not seasonally adjusted. Monster Employment Index for March came in at 185.

BOE Announcement: Bank of England Monetary Policy Committee which consists of nine members meets for two days each month, during the first week of the month to determine the direction of monetary policy, in the near-term. No change was made and rate remains at 5.25%.

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. U.S. Jobless Claims rose by 11K to 321K for week of March 31st compared to survey of an increase by 7K and U.S. Continuing Claims for week of March 24th fell by 25K to 2,492,000.

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. For week of March 31st actual weekly change came in at 58 Bcf.

On the commodities markets, the trend was mixed across the board today for the Energy sector: Light crude moved lower by $0.10 today to close at $64.28 a barrel; Heating Oil closed with no change at $1.86 a gallon; Natural Gas moved higher by $0.09 again today to end at $7.61 per million BTU and Unleaded Gas closed higher by $0.02 at $2.10 a gallon.

Metals Market ended the session mostly higher across the board today: Gold moved higher by $2.00 to close at $679.40 an ounce; Silver moved higher today by $0.12 to end the session at $13.74 an ounce; Platinum moved higher today by $7.00 to close at $1,265.90 an ounce and Copper ended the day lower by $0.01 to end at $3.38 per pound.

On the Livestock and Meat Markets, the trend was mostly higher across the board today: Lean Hogs closed with no change at 75.60; Pork Bellies ended the day higher by 0.23 to close at 100.05 Live Cattle moved higher by 0.78 to end the day at 96.33 and Feeder Cattle ended the day higher by 0.35 to close at 111.85.

Other Commodities: Corn moved higher today by 6.25 points to end at 386.75 and Soybeans moved lower today by 0.50 to close at 760.50.

Bonds were lower across the board today: 2 year bond closed lower by 2/32 at 99 24/32; 5 year bond closed lower by 3/32 at 99 262232; 10 year bond closed lower by 7/32 at 99 18/32 and the 30 year bond closed lower by 14/32 at 98 3/32.

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 2,927,789 Open Interest for Futures moved lower by 12,646 to close at 9,595,256; the Open Interest for Options moved higher by 67,756 to close at 7,454,141 and the Open Interest for OTC moved higher by 228 at 3,160 for a total Open Interest of 17,052,557 for a total gain on the day by 55,338.

The mini Dow ended the session higher by 26 at 12621. The total Dow Exchange Volume for the day came in at 80,839 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.

On the NYSE today, advancers came in at 1,938; decliners totaled 1,234; unchanged came in at 177; new highs came in at 277 and new lows came in at 17. New York Stock Exchange movers for the day today: M&F Worldwide Corporation (MFW) rallied higher by 11.58 points to gain 23.60% on the day for a closing price of $60.65; Rockwell Automation (ROK) shed 3.46 points on the market session to close at $58.07; Alcon Incorporated (ACL) moved higher on the listed market by 4.63 points to end the day at $138.01; Terra Nitrogen Company L.P. (TNH) moved higher by 4.41 points for a closing price on the market of $64.15 and Chicago Mercantile Exchange Holdings (CME) moved lower on the listed market today by 3.60 points to end the session at $553.50.

On the NASDAQ today, advancers came in at 1,681; decliners totaled 1,324 unchanged came in at 140146 new highs came in at 129 and new lows came in at 41. Gainers and losers for the day on the NASDAQ: Rackable Systems Incorporated (RACK) fell by 15.70% for a loss on the day of 2.65 points to end the market session at $14.23; Fuwei Films Holdings Company Limited (FFHL) rallied by 22.57% for a gain of 2.21 points on the day to close at $12.00; Dendreon Corporation (DNDN) moved higher by 19.69% to gain 2.97 points on the session to end at $18.05; Matrix Service Company (MTRX) climbed higher by 14.76% for a rise on the day by 3.16 points to close at $24.57 and Cutera Incorporated (CUTR) plummeted by 30.53% to shed 11.72 points on the day to end at $26.67.

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