Market Commentary for May 1, 2007
Quite an interesting trading day for both investors and day traders. Trading volume was moderate to heavy and trading ranges provided a rather appeal to traders playing the markets today. At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) moved higher by 73.23 points to end the session at 13,136.14; the NYSE (New York Stock Exchange) posted a gain today to tack on 12.06 points to end at 9,639.79; the NASDAQ posted a gain of 6.44 points today for a close at 2,531.53; the S&P 500 moved higher by 3.93 points to end at 1,486.30 and the RUSSELL 2000 moved higher by 1.68 points to close at 809.92. 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 0.04 to close at 254.13 and the FTSE RAFI 1000 closed higher by 17.07 at 6,233.58.
Fed's Chairman Ben S. Bernanke commented today: U.S. benefits from greater global trade; dismisses `dire` warnings of outsourcing effects; trade doesn't affect total U.S. employment levels; imports keep prices in check; help lower incomes; aging of population to have major U.S. economic effect; more U.S. saving key to lowering trade gap; need to 'think hard' about U.S. budget policies and real interest rates remain 'very, very low'.
Economic data released for the day:
ICSC-UBS Store Sales: Weekly measure of comparable store sales at major retail chains which is related to the general merchandise portion of retail sales, as reported by the International Council of Shopping Centers. This date accounts for approximately 10% of total retail sales. For week of April 28th, Store Sales week over week change came in at 0.5% and Store Sales year over year came in at 1.9%.
Redbook: General merchandise portion of retail sales covering only approximately 10% of total retail sales, this data is a weekly measure of sales at department stores, chain stores and discounters. Store Sales year over year change came in at 0.2%.
ISM Manufacturing Survey: Compiled from approximately 400 manufacturing firms on inventories, employment, production supplier deliveries and new orders by the Institute of Supply Management. Includes export orders, import orders backlog orders as well as, prices paid for raw and unfinished materials. U.S. ISM April Manufacturing Business Index came in at 54.7 versus March reading at 50.9; U.S. ISM April Manufacturing Business Index was expected to come in at 51.0; U.S. ISM April Prices Index 73.0 versus March reading at 65.5 and U.S. ISM April Employment Index 53.1 versus March reading at 48.7.
Pending Home Sales Index: Reported by the National Association of Realtors, leading indicator of housing activity. Pending U.S. Home Sales were down by 10.5% since March 2006 and Pending U.S. Home Sales Decreased by 4.9% in March per the National Association of Realtors.
The e-mini Dow ended the session higher by 62 at 13178. The total Dow Exchange Volume for the day came in at 122,090 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.
Commodities Markets
The trend was lower across the board today for the Energy Sector: Light crude moved lower by $1.31 today to close at $64.40 a barrel; Heating Oil moved lower by $0.01 to close at $1.88 a gallon; Natural Gas closed lower by $0.15 at $7.72 per million BTU and Unleaded Gas closed lower by $0.01 at $2.24 a gallon.
Metals Market ended the session mixed across the board today: Gold moved lower by $6.20 to close at $677.30 an ounce; Silver moved lower by $0.21 to close at $13.37 an ounce; Platinum moved higher by $2.50 to close at $1,300.90 an ounce and Copper ended the day higher by $0.08 today to end at $3.63 per pound.
On the Livestock and Meat Markets, the trend was mostly lower across the board today: Lean Hogs moved higher today by 0.43 today to close at 75.53; Pork Bellies ended the day lower by 0.88 to close at 102.60; Live Cattle moved lower by 0.25 to end the day at 93.88 and Feeder Cattle ended the day lower by 0.25 to close at 112.60.
Other Commodities: Corn moved higher today with a favorable gain of 10.00 points to end at 377.50 and Soybeans posted a nice gain today by 13.25 to close at 756.25.
Bonds were lower across the board today: 2 year bond closed lower by 2/32 at 99 2/32; 5 year bond closed lower by 4/32 at 99 26/32; 10 year bond closed lower by 4/32 at 99 28/32 and the 30 year bond closed lower by 5/32 at 98 29/32.
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 2,771,553; Open Interest for Futures moved higher by 20,779 points to close at 9,972,170; the Open Interest for Options moved higher by 79,952 points to close at 7,098,844 and the Open Interest for OTC closed with no change at 4,443 for a total Open Interest of 17,075,457 for a total gain on the day by 100,731.
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: RTI International Metals (RTI) plummeted lower by 14.72% for a loss on the day of 13.88 points to end the trading session on the Big Board at $80.39; Vulcan Materials Company (VMC) shed 8.40 points for a closing price on the trading day at $115.27; Medco Health Solutions Incorporated (MHS) gave up 6.00 points for a closing price of $72.01; Chemed Corporation (CHE) climbed higher on the day for a gain of 14.63% to tack on 7.36 points to end the trading session at $57.66; Under Armour Incorporated (UA) gave up 4.44 points to close at $46.06 and Liz Claiborne Incorporated (LIZ) plummeted by 18.71% for a loss on the day of 8.36 points to end the day at $36.35.
On the NASDAQ today, advanced totaled 1,493, decliners totaled 1,592; unchanged came in at 123, new highs came in at 83 and new lows came in at 100. Gainers and losers for the day on the NASDAQ: i2 Technologies Incorporated (ITWO) fell sharply lower by 30.20% to shed 7.69 points for a closing trading day price at $17.77; United Therapeutics Corporation (UTHR) gained 2.10 points on the session to close at $58.01; Community Banks Incorporated (CMTY) rallied by 8.49 points for a gain of 35.93% to close t $32.12; MAF Bancorp Incorporated (MAFB) rallied on Buy Out word today with a whopping gain of 14.29 points to tack on 35.59% for a closing price of $54.44 and American Dental Partners Incorporated (ADPI) moved nicely higher by 3.55 points for a gain of 16.60% for an end of day closing price at $24.93.
Thanks for reading
Millennium-Traders
Fed's Chairman Ben S. Bernanke commented today: U.S. benefits from greater global trade; dismisses `dire` warnings of outsourcing effects; trade doesn't affect total U.S. employment levels; imports keep prices in check; help lower incomes; aging of population to have major U.S. economic effect; more U.S. saving key to lowering trade gap; need to 'think hard' about U.S. budget policies and real interest rates remain 'very, very low'.
Economic data released for the day:
ICSC-UBS Store Sales: Weekly measure of comparable store sales at major retail chains which is related to the general merchandise portion of retail sales, as reported by the International Council of Shopping Centers. This date accounts for approximately 10% of total retail sales. For week of April 28th, Store Sales week over week change came in at 0.5% and Store Sales year over year came in at 1.9%.
Redbook: General merchandise portion of retail sales covering only approximately 10% of total retail sales, this data is a weekly measure of sales at department stores, chain stores and discounters. Store Sales year over year change came in at 0.2%.
ISM Manufacturing Survey: Compiled from approximately 400 manufacturing firms on inventories, employment, production supplier deliveries and new orders by the Institute of Supply Management. Includes export orders, import orders backlog orders as well as, prices paid for raw and unfinished materials. U.S. ISM April Manufacturing Business Index came in at 54.7 versus March reading at 50.9; U.S. ISM April Manufacturing Business Index was expected to come in at 51.0; U.S. ISM April Prices Index 73.0 versus March reading at 65.5 and U.S. ISM April Employment Index 53.1 versus March reading at 48.7.
Pending Home Sales Index: Reported by the National Association of Realtors, leading indicator of housing activity. Pending U.S. Home Sales were down by 10.5% since March 2006 and Pending U.S. Home Sales Decreased by 4.9% in March per the National Association of Realtors.
The e-mini Dow ended the session higher by 62 at 13178. The total Dow Exchange Volume for the day came in at 122,090 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.
Commodities Markets
The trend was lower across the board today for the Energy Sector: Light crude moved lower by $1.31 today to close at $64.40 a barrel; Heating Oil moved lower by $0.01 to close at $1.88 a gallon; Natural Gas closed lower by $0.15 at $7.72 per million BTU and Unleaded Gas closed lower by $0.01 at $2.24 a gallon.
Metals Market ended the session mixed across the board today: Gold moved lower by $6.20 to close at $677.30 an ounce; Silver moved lower by $0.21 to close at $13.37 an ounce; Platinum moved higher by $2.50 to close at $1,300.90 an ounce and Copper ended the day higher by $0.08 today to end at $3.63 per pound.
On the Livestock and Meat Markets, the trend was mostly lower across the board today: Lean Hogs moved higher today by 0.43 today to close at 75.53; Pork Bellies ended the day lower by 0.88 to close at 102.60; Live Cattle moved lower by 0.25 to end the day at 93.88 and Feeder Cattle ended the day lower by 0.25 to close at 112.60.
Other Commodities: Corn moved higher today with a favorable gain of 10.00 points to end at 377.50 and Soybeans posted a nice gain today by 13.25 to close at 756.25.
Bonds were lower across the board today: 2 year bond closed lower by 2/32 at 99 2/32; 5 year bond closed lower by 4/32 at 99 26/32; 10 year bond closed lower by 4/32 at 99 28/32 and the 30 year bond closed lower by 5/32 at 98 29/32.
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 2,771,553; Open Interest for Futures moved higher by 20,779 points to close at 9,972,170; the Open Interest for Options moved higher by 79,952 points to close at 7,098,844 and the Open Interest for OTC closed with no change at 4,443 for a total Open Interest of 17,075,457 for a total gain on the day by 100,731.
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: RTI International Metals (RTI) plummeted lower by 14.72% for a loss on the day of 13.88 points to end the trading session on the Big Board at $80.39; Vulcan Materials Company (VMC) shed 8.40 points for a closing price on the trading day at $115.27; Medco Health Solutions Incorporated (MHS) gave up 6.00 points for a closing price of $72.01; Chemed Corporation (CHE) climbed higher on the day for a gain of 14.63% to tack on 7.36 points to end the trading session at $57.66; Under Armour Incorporated (UA) gave up 4.44 points to close at $46.06 and Liz Claiborne Incorporated (LIZ) plummeted by 18.71% for a loss on the day of 8.36 points to end the day at $36.35.
On the NASDAQ today, advanced totaled 1,493, decliners totaled 1,592; unchanged came in at 123, new highs came in at 83 and new lows came in at 100. Gainers and losers for the day on the NASDAQ: i2 Technologies Incorporated (ITWO) fell sharply lower by 30.20% to shed 7.69 points for a closing trading day price at $17.77; United Therapeutics Corporation (UTHR) gained 2.10 points on the session to close at $58.01; Community Banks Incorporated (CMTY) rallied by 8.49 points for a gain of 35.93% to close t $32.12; MAF Bancorp Incorporated (MAFB) rallied on Buy Out word today with a whopping gain of 14.29 points to tack on 35.59% for a closing price of $54.44 and American Dental Partners Incorporated (ADPI) moved nicely higher by 3.55 points for a gain of 16.60% for an end of day closing price at $24.93.
Thanks for reading
Millennium-Traders
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