Market Commentary for April 30, 2007


A rather sluggish tone to the market as we moved through the trading session today to end the month of April. At the closing bell, here is how the major indices ended the session: the DOW
(Dow Jones Industrial Average) moved lower by 58.03 points to end the session at 13,062.91; the NYSE (New York Stock Exchange) posted a loss today again to shed 77.63 points to end at 9,627.73; the NASDAQ posted a loss of 32.12 points today for a close at 2,525.09; the S&P 500 moved lower by 11.70 points to end at 1,482.37 and the RUSSELL 2000 moved lower by 15.13 points to close at 814.57. 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 0.65 to close at 254.30 and the FTSE RAFI 1000 closed lower by 50.37 at 6,216.51.

Dallas Fed April Manufacturing Production Index came in at 24.3 versus March reading at 27.2 and Dallas Fed April Business Activity came in at 15.9 versus March reading at 12.7.

Economic data released for the day:

Personal Income and Outlays: Personal Income, received from all sources by individuals, is the dollar amount of income. Personal Outlays include purchase by consumers for both durable and non-durable goods and services. U.S. Personal Income rose by 0.7% in March compared to consensus of an increase of 0.6%; U.S. Personal Spending rose by 0.3% in March compared to consensus of an increase of 0.5%; March PCE Core Price Index was unchanged with an increase of 2.1% on the year; March PCE Price Index rose by 0.4% on the month with an increase of 2.4% on the year; February Personal Income was revised to an increase of 0.7% from an increase of 0.6% and February Spending was revised to an increase of 0.7% from an increase of 0.6%.

NAPM-Chicago: A compilation by The National Association of Purchasing Management of a survey and composite diffusion index of business conditions in the Chicago area. The survey includes both manufacturing and non-manufacturing firms. This data is considered a leading indicator of the ISM Manufacturing Index. U.S. Chicago Purchasing Management adjusted April Index came in at 52.9 versus March 61.7; U.S. Chicago Purchasing Management April Prices Paid Index came in at 64.9 versus March 59.1; U.S. Chicago Purchasing Management April Supplier Deliveries came in at 43.4 versus March 45.8; U.S. Chicago Purchasing Management April Employment Index came in at 50.5 versus March 45.0 and U.S. Chicago Purchasing Management April New Orders Index came in at 56.5 versus March 72.2.

Construction Spending: New construction activity on residential, non-residential and public projects measured in dollar value which is available in nominal and inflation adjusted dollars. U.S. vacation home sales hit record; investment home sales were down; U.S. Construction Spending rose by 0.2% in March compared to consensus of an increase by 0.3% and February Construction Spending was revised to an increase by 1.5% from an increase by 0.3%.

Commodities Markets

The trend was mostly lower across the board today for the Energy sector: Light crude moved lower by $0.75 today to close at $65.71 a barrel; Heating Oil moved lower by $0.02 to close at $1.89 a gallon; Natural Gas closed higher by $0.03 at $7.86 per million BTU and Unleaded Gas closed at $2.26 a gallon.

Metals Market ended the session mostly higher across the board today: Gold moved higher by $1.70 to close at $683.50 an ounce; Silver had no change at $13.58 an ounce; Platinum moved higher by $5.40 to close at $1,298.40 an ounce and Copper ended the day higher by $0.02 today to end at $3.56 per pound.

On the Livestock and Meat Markets, the trend was higher across the board today: Lean Hogs moved higher today by 0.53 today to close at 75.10; Pork Bellies ended the day higher by 0.58 to close at 103.48; Live Cattle moved higher by 0.85 to end the day at 94.13 and Feeder Cattle ended the day higher by 1.38 to close at 112.85.

Other Commodities: Corn fell today with a loss of 6.25 points to end at 367.50 and Soybeans posted a gain today by 4.50 to close at 743.00.

Bonds were higher across the board today: 2 year bond closed higher by 4/32 at 99 26/32; 5 year bond closed higher by 11/32 at 99 30/32; 10 year bond closed higher by 18/32 at 100 and the 30 year bond closed higher by 1 5/32 at 99 2/32.

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 3,329,115; Open Interest for Futures moved higher by 15,751 points to close at 9,951,391; the Open Interest for Options moved higher by 106,321 points to close at 7,018,892 and the Open Interest for OTC closed higher by 60 points at 4,443 for a total Open Interest of 16,974,726 for a total gain on the day by 122,132.

On the NYSE today, advancers came in at 907; decliners totaled 2,340; unchanged came in at 123; new highs came in at 263 and new lows came in at 27. New York Stock Exchange movers for the day today: International Securities Exchange (ISE) bolted higher on the Big Board today with a massive gain of 45.87% to climb higher by 20.97 points to close the trading session at $66.69; American Real Estate Partners (ACP) plummeted lower today by a whopping 17.42% for a loss on the trading session of 18.90 points to end at $89.61; WellCare Health Plans Incorporated (WCG) shed 5.91 points to close at $80.59; Trina Solar Limited American Depository (TSL) fell sharply lower by 10.64% for a loss on the day of 6.36 points to close at $53.43 and Allegheny Technologies Incorporated (ATI) shed 4.42 points to end at $109.58.

On the NASDAQ today, advanced totaled 922, decliners totaled 2,155; unchanged came in at 131, new highs came in at 118 and new lows came in at 86. Gainers and losers for the day on the NASDAQ: Appliance Recycling Centers of America Incorporated (ARCI) rallied higher by 137.07% to gain 3.18 points for a close at $5.50; Enpath Medical Incorporated (NPTH) rallied by 27.58% for a gain of 3.07 points to close at $14.20; Sterling Financial Corporation (SLFI) fell sharply by 19.40% for a loss of 4.02 points to close at $16.70; Sigma Designs Incorporated (SIGM) shed 11.81% on the day for a loss of 3.16 points to end the trading day at $23.60 and Google Incorporated (GOOG) fell by 7.86 points to close at $471.15.

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Millennium-Traders