Market Commentary for December 19, 2007
At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) posted a loss of 25.52 points on the day to end the session at 13,206.95; the NYSE (New York Stock Exchange) posted a loss of 16.48 points to end the session at 9,586.07; the NASDAQ posted a gain of 4.98 points for a close at 2,601.01; the S&P 500 moved lower by 1.98 points to end at 1,453.0 and the RUSSELL 2000 moved higher by 2.07 points to close at 754.06. 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 0.69 points to close at 257.16 and the FTSE RAFI 1000 posted a loss of 12.13 points to close at 5,918.20.
On the NYSE today, advancers came in at 1,388; decliners totaled 1,812; unchanged came in at 92; new highs came in at 44 and new lows came in at 280.
Momentum stocks traded by active day traders on the NYSE today: Petroleo Brasileiro S.A. (PBR) gained 0.88 points with a high on the day of $107.05, a low of $102.99 for a closing price at $105.22; ITT Educational Services Incorporated (ESI) shed 2.80 points with a high on the day of $94.30, a low of $89.78 for a closing price at $91.11; The Mosaic Company (MOS) shed 0.84 points with a high on the day of $84.94, a low of $81.15 for a closing price at $82.31; SLM Corporation (SLM) shed 5.98 points with a high on the day of $28.85, a low of $22.35 for a closing price at $22.89; Uniao de Bancos Brasileiros SA (UBB) gained 1.85 points with a high on the day of $141.05, a low of $136.60 for a closing price at $138.52; Transocean Incorporated (RIG) gained 0.63 points with a high on the day of $136.80, a low of $134.05 for a closing price at $134.76; CME Group Incorporated (CME) gained 1.50 points with a high on the day of $700.78, a low of $685.55 for a closing price at $693.50; Rio Tinto plc (RTP) shed 1.02 points with a high on the day of $410.97, a low of $402.50 for a closing price at $409.50; Goldman Sachs Group Incorporated (GS) gained 2.65 points with a high on the day of $206.10, a low of $200.64 for a closing price at $204.16; Darden Restaurants Incorporated (DRI) shed 7.74 points with a high on the day of $31.85, a low of $28.30 for a closing price at $28.60; Union Pacific Corporation (UNP) shed 4.82 points with a high on the day of $126.60, a low of $121.36 for a closing price at $124.61; Freeport-McMoran Copper & Gold (FCX) gained 1.49 points with a high on the day of $100.50, a low of $97.15 for a closing price at $98.36; Cummins Incorporated (CMI) shed 1.44 points with a high on the day of $117.99, a low of $113.55 for a closing price at $114.99; MasterCard Incorporated (MA) gained 10.57 points with a high on the day of $213.00, a low of $197.50 for a closing price at $212.34; Intercontinental Exchange Incorporated (ICE) gained 7.99 points with a high on the day of $186.78, a low of $176.96 for a closing price at $185.87; V.F. Corporation (VFC) gained 5.20 points with a high on the day of $75.97, a low of $68.15 for a closing price at $75.02 and LDK Solar Corporation Limited (LDK) shed 7.00 points with a high on the day of $71.94, a low of $65.14 for a closing price at $63.00.
On the NASDAQ today, advanced totaled 1,485; decliners totaled 1,513; unchanged came in at 136; new highs came in at 37 and new lows came in at 277.
Momentum stocks on the NASDAQ today: Force Protection Incorporated (FRPT) shed 0.98 points with a high on the day of $5.12, a low of $3.89 for a closing price at $4.93; First Solar Incorporated (FSLR) gained 0.88 points with a high on the day of $251.75, a low of $242.64 for a closing price at $247.98; Intuitive Surgical Incorporated (ISRG) gained 5.35 points with a high on the day of $318.86, a low of $305.11 for a closing price at $312.95; Garmin Limited (GRMN) gained 2.61 points with a high on the day of $97.77, a low of $93.11 for a closing price at $96.96; Google Incorporated (GOOG) gained 5.65 points with a high on the day of $679.00, a low of $669.00 for a closing price at $679.00; Baidu.com Incorporated (BIDU) gained 2.03 points with a high on the day of $378.00, a low of $366.47 for a closing price at $375.00; China Natural Resources Incorporated (CHNR) gained 2.00 points with a high on the day of $26.88, a low of $22.61 for a closing price at $24.60; Ceradyne Incorporated (CRDN) gained 2.86 points with a high on the day of $48.82, a low of $44.90 for a closing price at $47.74 and Leap Wireless International Incorporated (LEAP) gained 6.95 points with a high on the day of $42.22, a low of $35.90 for a closing price at $42.47.
Department of Energy Oil Inventories released today: U.S. Refineries ran at 87.8% capacity compared to expectations of capacity of an increase by 0.3 Pt at 89.1%; U.S. Distillate Stockpiles fell by 2.1 Million Barrels in the week compared to expectations of a decrease by 500,000 Barrels; U.S. Gasoline Stockpiles rose by 3 Million Barrels in the week compared to expectations of an increase by 700,000 Barrels and U.S. Crude Oil Stockpiles fell by 7.6 Million Barrels in the week compared to expectations of a drop by 1.5 Million Barrels.
President of the Federal Reserve Bank of Richmond, Jeffrey M. Lacker commented today: `I Am Uncomfortable` with Inflation Picture; Fed must keep down overall Inflation, not just Core; Sees `Very Weak` Growth` for Several more Months`; Housing to Stay Drag on Growth 'Well' into 2008; Economic Growth likely to Improve into 2008; U.S. Growth likely to average 2% - 2.25% from fourth quarter 2007 to fourth quarter 2008; Weaker U.S. Dollar to Boost Exports; Income Growth could Support Consumer Spending; Turmoil could Recur on New Information; Higher Wholesale Rates Reflect Counterparty Risk; November PCE Inflation Data likely to be `Even Worse` and China's Global Integration Beneficial to U.S.
Commodities Markets
The trend was higher across the board today for the Energy Sector: Light crude moved higher today by $1.16 to close at $91.24 a barrel; Heating Oil moved higher today by $0.04 to close at $2.60 a gallon; Natural Gas moved higher today by $0.02 to close at $7.34 per million BTU and Unleaded Gas moved higher today by $0.03 to close at $2.33 a gallon.
Metals Market ended the session mostly higher across the board today: Gold moved lower today by $2.00 to close at $805.40 a Troy ounce; Silver moved higher today by $0.06 to close at $14.22 per Troy ounce; Platinum moved higher today by $8.50 to close at $1,523.80 per Troy ounce and Copper moved higher today by $0.07 to close at $2.96 per pound.
On the Livestock and Meat Markets, the trend was mixed across the board today: Lean Hogs ended the day higher by $0.28 to close at $60.10; Pork Bellies ended the day higher by $0.43 at $88.48; Live Cattle ended the day lower by $0.40 at $96.28 and Feeder Cattle ended the day lower by $0.73 at $107.35.
Other Commodities: Corn ended the day higher by $2.75 at $434.75 and Soybeans moved nicely higher today by $9.25 to end the session at $1,177.75.
Bonds were higher across the board today: 2 year bond moved higher by 6/32 to close at 100 1/32; 5 year bond moved higher by 12/32 to close at 99 23/32 today; 10 year bond moved higher by 26/32 to close at 101 26/32 and the 30 year bond moved higher by 1 24/32 to close at 109 4/32 on the day.
The e-mini Dow ended the session today at 13,278 with a loss of 43 points on the trading session. The total Dow Exchange Volume for the day came in at 239,772 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 3,171,186; Open Interest for Futures moved lower by 61,576 points to close at 9,599,754; the Open Interest for Options moved higher by 43,709 points to close at 7,336,818 and the Cleared Only closed higher by 1,198 points to close at 19,420 for a total Open Interest on the day of 16,955,992 for a total Change on the day with a loss of 16,669 points.
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Millennium-Traders
On the NYSE today, advancers came in at 1,388; decliners totaled 1,812; unchanged came in at 92; new highs came in at 44 and new lows came in at 280.
Momentum stocks traded by active day traders on the NYSE today: Petroleo Brasileiro S.A. (PBR) gained 0.88 points with a high on the day of $107.05, a low of $102.99 for a closing price at $105.22; ITT Educational Services Incorporated (ESI) shed 2.80 points with a high on the day of $94.30, a low of $89.78 for a closing price at $91.11; The Mosaic Company (MOS) shed 0.84 points with a high on the day of $84.94, a low of $81.15 for a closing price at $82.31; SLM Corporation (SLM) shed 5.98 points with a high on the day of $28.85, a low of $22.35 for a closing price at $22.89; Uniao de Bancos Brasileiros SA (UBB) gained 1.85 points with a high on the day of $141.05, a low of $136.60 for a closing price at $138.52; Transocean Incorporated (RIG) gained 0.63 points with a high on the day of $136.80, a low of $134.05 for a closing price at $134.76; CME Group Incorporated (CME) gained 1.50 points with a high on the day of $700.78, a low of $685.55 for a closing price at $693.50; Rio Tinto plc (RTP) shed 1.02 points with a high on the day of $410.97, a low of $402.50 for a closing price at $409.50; Goldman Sachs Group Incorporated (GS) gained 2.65 points with a high on the day of $206.10, a low of $200.64 for a closing price at $204.16; Darden Restaurants Incorporated (DRI) shed 7.74 points with a high on the day of $31.85, a low of $28.30 for a closing price at $28.60; Union Pacific Corporation (UNP) shed 4.82 points with a high on the day of $126.60, a low of $121.36 for a closing price at $124.61; Freeport-McMoran Copper & Gold (FCX) gained 1.49 points with a high on the day of $100.50, a low of $97.15 for a closing price at $98.36; Cummins Incorporated (CMI) shed 1.44 points with a high on the day of $117.99, a low of $113.55 for a closing price at $114.99; MasterCard Incorporated (MA) gained 10.57 points with a high on the day of $213.00, a low of $197.50 for a closing price at $212.34; Intercontinental Exchange Incorporated (ICE) gained 7.99 points with a high on the day of $186.78, a low of $176.96 for a closing price at $185.87; V.F. Corporation (VFC) gained 5.20 points with a high on the day of $75.97, a low of $68.15 for a closing price at $75.02 and LDK Solar Corporation Limited (LDK) shed 7.00 points with a high on the day of $71.94, a low of $65.14 for a closing price at $63.00.
On the NASDAQ today, advanced totaled 1,485; decliners totaled 1,513; unchanged came in at 136; new highs came in at 37 and new lows came in at 277.
Momentum stocks on the NASDAQ today: Force Protection Incorporated (FRPT) shed 0.98 points with a high on the day of $5.12, a low of $3.89 for a closing price at $4.93; First Solar Incorporated (FSLR) gained 0.88 points with a high on the day of $251.75, a low of $242.64 for a closing price at $247.98; Intuitive Surgical Incorporated (ISRG) gained 5.35 points with a high on the day of $318.86, a low of $305.11 for a closing price at $312.95; Garmin Limited (GRMN) gained 2.61 points with a high on the day of $97.77, a low of $93.11 for a closing price at $96.96; Google Incorporated (GOOG) gained 5.65 points with a high on the day of $679.00, a low of $669.00 for a closing price at $679.00; Baidu.com Incorporated (BIDU) gained 2.03 points with a high on the day of $378.00, a low of $366.47 for a closing price at $375.00; China Natural Resources Incorporated (CHNR) gained 2.00 points with a high on the day of $26.88, a low of $22.61 for a closing price at $24.60; Ceradyne Incorporated (CRDN) gained 2.86 points with a high on the day of $48.82, a low of $44.90 for a closing price at $47.74 and Leap Wireless International Incorporated (LEAP) gained 6.95 points with a high on the day of $42.22, a low of $35.90 for a closing price at $42.47.
Department of Energy Oil Inventories released today: U.S. Refineries ran at 87.8% capacity compared to expectations of capacity of an increase by 0.3 Pt at 89.1%; U.S. Distillate Stockpiles fell by 2.1 Million Barrels in the week compared to expectations of a decrease by 500,000 Barrels; U.S. Gasoline Stockpiles rose by 3 Million Barrels in the week compared to expectations of an increase by 700,000 Barrels and U.S. Crude Oil Stockpiles fell by 7.6 Million Barrels in the week compared to expectations of a drop by 1.5 Million Barrels.
President of the Federal Reserve Bank of Richmond, Jeffrey M. Lacker commented today: `I Am Uncomfortable` with Inflation Picture; Fed must keep down overall Inflation, not just Core; Sees `Very Weak` Growth` for Several more Months`; Housing to Stay Drag on Growth 'Well' into 2008; Economic Growth likely to Improve into 2008; U.S. Growth likely to average 2% - 2.25% from fourth quarter 2007 to fourth quarter 2008; Weaker U.S. Dollar to Boost Exports; Income Growth could Support Consumer Spending; Turmoil could Recur on New Information; Higher Wholesale Rates Reflect Counterparty Risk; November PCE Inflation Data likely to be `Even Worse` and China's Global Integration Beneficial to U.S.
Commodities Markets
The trend was higher across the board today for the Energy Sector: Light crude moved higher today by $1.16 to close at $91.24 a barrel; Heating Oil moved higher today by $0.04 to close at $2.60 a gallon; Natural Gas moved higher today by $0.02 to close at $7.34 per million BTU and Unleaded Gas moved higher today by $0.03 to close at $2.33 a gallon.
Metals Market ended the session mostly higher across the board today: Gold moved lower today by $2.00 to close at $805.40 a Troy ounce; Silver moved higher today by $0.06 to close at $14.22 per Troy ounce; Platinum moved higher today by $8.50 to close at $1,523.80 per Troy ounce and Copper moved higher today by $0.07 to close at $2.96 per pound.
On the Livestock and Meat Markets, the trend was mixed across the board today: Lean Hogs ended the day higher by $0.28 to close at $60.10; Pork Bellies ended the day higher by $0.43 at $88.48; Live Cattle ended the day lower by $0.40 at $96.28 and Feeder Cattle ended the day lower by $0.73 at $107.35.
Other Commodities: Corn ended the day higher by $2.75 at $434.75 and Soybeans moved nicely higher today by $9.25 to end the session at $1,177.75.
Bonds were higher across the board today: 2 year bond moved higher by 6/32 to close at 100 1/32; 5 year bond moved higher by 12/32 to close at 99 23/32 today; 10 year bond moved higher by 26/32 to close at 101 26/32 and the 30 year bond moved higher by 1 24/32 to close at 109 4/32 on the day.
The e-mini Dow ended the session today at 13,278 with a loss of 43 points on the trading session. The total Dow Exchange Volume for the day came in at 239,772 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 3,171,186; Open Interest for Futures moved lower by 61,576 points to close at 9,599,754; the Open Interest for Options moved higher by 43,709 points to close at 7,336,818 and the Cleared Only closed higher by 1,198 points to close at 19,420 for a total Open Interest on the day of 16,955,992 for a total Change on the day with a loss of 16,669 points.
Thanks for reading
Millennium-Traders
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