Market Commentary for April 23, 2007


As we began the final full trading week in the month of April, trading volume was moderate with a prominent down draft during the late afternoon market session. At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) moved lower by 42.58 points to end the session at 12919.40; the NYSE (New York Stock Exchange) posted a loss of 36.79 points to end at 9660.55; the NASDAQ moved lower by 2.72 points today for a close at 2523.67; the S&P 500 moved lower by 3.42 points to end at 1480.93 and the RUSSELL 2000 moved lower by 1.31 points to close at 808.21. 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 lower by 0.50 to close at 254.88 and the FTSE RAFI 1000 closed lower by 14.38 at 6,218.11.

Chicago Fed National Activity Index rose by 0.01 in March versus a drop by 0.11 In February and Chicago Fed Index 3-Month average fell by 0.30 in March versus a drop by 0.12 in February.

Economic data released for the day: N/A

On the commodities markets, the trend was higher across the board today for the Energy sector: Light crude moved higher by $1.78 today to close at $65.89 a barrel; Heating Oil moved higher by $0.06 to close at $1.89 a gallon; Natural Gas closed higher by $0.17 at $7.69 per million BTU and Unleaded Gas closed higher by $0.05 today at $2.19 a gallon.

Metals Market ended the session mixed across the board today: Gold moved lower by $1.60 to close at $694.20 an ounce; Silver moved higher today by $0.10 to end the session at $14.05 an ounce; Platinum moved lower today by $9.50 to close at $1,331.70 an ounce and Copper ended the day higher by $0.02 today to end at $3.65 per pound.

On the Livestock and Meat Markets, the trend was mixed across the board today: Lean Hogs moved lower today by 0.55 again today to close at 76.50; Pork Bellies ended the day lower by 1.85 to close at 103.15 Live Cattle moved higher by 0.88 to end the day at 93.15 and Feeder Cattle ended the day higher by 1.73 to close at 112.48.

Other Commodities: Corn moved lower today with a loss of 8.00 points to end at 364.00 and Soybeans moved lower today by 2.25 to close at 738.00.

Bonds were higher across the board today: 2 year bond closed higher by 1/32 at 99 24/32; 5 year bond closed higher by 4/32 again today at 99 25/32; 10 year bond closed higher by 6/32 at 99 25/32 and the 30 year bond closed higher by 9/32 at 98 24/32.

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 2,245,613; Open Interest for Futures moved lower by 115,335 points to close at 9,625,672; the Open Interest for Options moved lower by 635,571 points to close at 6,596,111 and the Open Interest for OTC closed with no change at 4,443 for a total Open Interest of 16,226,226 for a total loss on the day by 750,906.

The e-mini Dow ended the session lower by 39 at 1290. The total Dow Exchange Volume for the day came in at 135,127 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 1,565; decliners totaled 1,663; unchanged came in at 139; new highs came in at 330 and new lows came in at 11. New York Stock Exchange movers for the day today: Chicago Mercantile Exchange Holdings (CME) fell sharply today by 8.49 points to close at $547.40; Cummins Incorporated (CMI) rallied higher today on the Big Board 7.35 points to end at $84.77; Pioneer Natural Resources (PXD) posted a gain of 3.37 points to close at $50.01; Administaff Incorporated (ASF) gave up 5.30 points for a loss on the day of 14.14% to close at $32.22 and NYSE Euronext (NYX) shed 5.91 points to close the session at $86.43.

On the NASDAQ today, advancers came in at 1,294; decliners totaled 1,765; unchanged came in at 143 new highs came in at 146 and new lows came in at 47. Gainers and losers for the day on the NASDAQ: Intuitive Surgical Incorporated (ISRG) gained 2.50 points on the trading session to end at $134.25; MedImmune Incorporated (MEDI) rallied higher by 8.65 points for a gain of 18.02% to close at $56.66; Paccar Incorporated (PCAR) climbed higher by 2.48 points to end the day at $78.69 and Kreisler Manufacturing Corporation (KRSL) moved nicely higher by 18.38% for a gain of 3.77 points on the day to close at $24.28.

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Millennium-Traders