Trading activity was controlled by the Bears today amidst very tight trading ranges, especially those involved in online stock trading during these questionable trading times. Major U.S. indices posted slight losses at the ringing of the closing bell. Stocks sluggishly moved lower, through out the trading session. Federal Reserve Chairman Ben Bernanke testified in front of the Joint Economic Committee in Washington, D.C. today, providing optimistic comments as well as cautious guidance. "Conditions in a number of financial markets have improved in recent weeks, reflecting in part the somewhat more encouraging economic data. However, financial markets and financial institutions remain under considerable stress, and cumulative declines in asset prices, tight credit conditions and high levels of risk aversion continue to weigh on the economy." He also added that 10 of the 19 banks that have been tested are going to need to raise additional capital. Details of the stress test are scheduled for release Thursday.

Comments from Federal Reserve Chairman Ben S. Bernanke: U.S. economy to resume growth later in 2009; improved financial markets key to recovery; economy likely to grow below potential for a while; housing stabilizing; inventory drop to slow; contraction in foreign economies may be moderating; U.S. likely to see more `sizable` job losses; unemployment rate may stay high `for a time`; inflation to decline in 2009, remain low; financial conditions better, but still strains; conditions in commercial real estate `poor`; Fed to add details on lending programs, collateral; business investment `extremely weak`; U.S. needs to address fiscal, current account gaps; sees no big shifts in foreign buys of U.S. assets; 'I look forward to a long period of boredom'; jobless rate to peak early 2010 then fall slowly; doesn't think jobless rate will hit 10%; substantial part of TARP cost may be recovered; inflation 'quite contained' for next couple years; Fed focused like 'laser beam' on exit strategy; financial markets far better than in September, October; Fed's Treasury purchase program has been beneficial; Fed isn't trying to target specific interest rates; hopes GDP fall to moderate 'considerably'; concerned about reports of credit card rate hikes; Fed doesn't expect to lose money on its programs; sees opportunities for banks to raise capital; Fed very committed to price stability; repeats didn't ask BofA CEO to obscure disclosures; low Treasury yields sign of confidence in U.S.; many banks won't need additional government capital; not ready to 'pre-disclose' results of stress tests; hopes GDP fall to moderate 'considerably'.

Comments from President Federal Reserve Bank of Boston Eric S. Rosengren: Regulator needs power over derivatives trades; systemic regulator needs cap-injection power; doesn't discuss economy, Fed policy in speech; need pacts on receivership for big financial firms; need better ways to liquidate big financial firms; need global coordination on financial regulation.

Comments from Minneapolis Federal Reserve President Gary Stern: Shrinking banks not sufficient to address issue; too-big-to-fail issues must be addressed; credit conditions have improved recently;  financial system is still impaired; ample time for Fed to unwind its policy actions; Fed can ensure policy action not inflation driver; recovery will reduce threat of deflation; scant evidence of deflation in core prices; housing slide may be nearing end; hard to identify economic rebound's catalyst; will take some time for job market to rebound; stronger growth to return in 2010; economic recovery is likely to be 'subdued';  strong policy response helping to engineer recovery; economic recovery likely not too far off.

Economic data released today:

ICSC-Goldman Store Sales:
U.S. Chain Store Sales rose 0.7% for week of May 2; U.S. Chain Store Sales fell 0.8% on the year.

Redbook:
U.S. Retail Sales for first 4 Weeks of April rose 1.5% versus March; U.S. Retail Sales for first 4 Weeks of April rose 0.5% versus year-ago April; U.S. Retail Sales for week ending May 2 rose 0.3% versus year-ago.

ISM Non-Mfg Index:
U.S. ISM April Non-Manufacturing PMI came in at 43.7 versus March reading of 40.8;
U.S. ISM April Non-Manufacturing PMI expected to come in at 42.5;
U.S. ISM April Non-Mfg Business Index came in at 45.2 versus March reading of 44.1;
U.S. ISM April Non-Mfg Employment Index came in at 37.0 versus March reading of 32.3;
U.S. ISM April Non-Mfg Prices Index came in at 40.0 versus March reading of 39.1;
U.S. ISM April Non-Mfg New Orders Index came in at 47.0 versus March reading of 38.8.

At the NYSE closing bell on the New York Stock Exchange, here is how the major world indices and major U.S. stock indices ended the trading session on the world markets as well as the emerging markets including the stock market closing bell price:
DOW (Dow Jones Industrial Average) loss 16.09 points, EOD 8,410.65
NYSE (New York Stock Exchange) loss 29.46 points, EOD 5,770.76
National Association of Securities Dealers Automated Quotations (NASDAQ) loss 9.44 points, EOD 1,754.12
S&P 500 (SPX) loss 3.44 points, EOD 903.80
BEL 20 (BEL20) loss 23.85 points, EOD 1,969.62
CAC 40 (CAC40) loss 12.97 points, EOD 3,225
FTSE100 (UKX100) gain 93.72 points, EOD 4,336.94
NIKKEI 225 (NIK/O) unchanged, EOD 8,977.37

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 1,155, declined stock prices 1,502, unchanged stock prices 517, stock prices hitting new highs 9 and stock prices hitting new lows 10. NYSE quotes for volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the New York Stock Exchange stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: AKS: shed 1.27 points, HOD $15.05, LOD $13.83, EOD $14.39; CME: gain 9.80 points, HOD $250.85, LOD $232.73, EOD $244.14; ICE: gain 11.57 points, HOD $104.60, LOD $89.32, EOD $102; RTP: shed 3.53 points, HOD $182.78, LOD $174.61, EOD $177.86; SKF: gain 1.29 points, HOD $49.99, LOD $47.74, EOD $49.14; FMC: shed 6.11 points, HOD $48.83, LOD $43.41, EOD $45.04; LM: shed 3.90 points, HOD $21.31, LOD $17.55, EOD $18.63.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,270, declined stock prices 1,521, unchanged stock prices 131, stock prices hitting new highs 25 and stock prices hitting new lows 8. NASDAQ quotes, volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the NASDAQ stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: MYGN: shed 5.06 points, HOD $34.18, LOD $30.10, EOD $32.68; HOLX: shed 3.13 points, HOD $12.63, LOD $11.78, EOD $12.47; FSLR: shed 1.24 points, HOD $195.66, LOD $188.83, EOD $192.40; BIDU: gain 1.25 points, HOD $249.80, LOD $242.66, EOD $249.50.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 263, declined stock prices 244, unchanged stock prices 104, stock prices hitting new highs 3 and stock prices hitting new lows n/a.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) June 09: EOD 903.25; Change 0.25
E-mini NASDAQ-100 (NQ) June 09: EOD 1,426.50; Change 4.50
E-mini DOW $5 (YM) June 09: EOD 8,381; Change 23
E-mini S&P MidCap 400 (MF) June 09: EOD 577.40; Change -1.80
Nikkei 225 (Yen) June 09; EOD 9,300; Change 0

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7510 to U.S. Dollars 1.3316
Japanese Yen 98.97 to U.S. Dollars 0.0101
British Pound 0.6634 to U.S. Dollars 1.5074
Canadian Dollar 1.1751 to U.S. Dollars 0.8510
Swiss Franc 1.1336 to U.S. Dollars 0.8821

COMMODITY MARKETS:

Energy Sector - Nymex:
Light Crude (June 09) shed $0.63, EOD $53.85 per barrel ($US per barrel)
Heating Oil (June 09) shed $0.01, EOD $1.43 a gallon ($US per gallon)
Natural Gas (June 09) shed $0.11, EOD $3.62 per million BTU ($US per mmbtu.)
Unleaded Gas (May 09) shed $0.01, EOD $1.57 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (June 09) gain $2.10, EOD $904.30 ($US per Troy ounce)
Silver (July 09) gain $0.31, EOD $13.42 ($US per Troy ounce)
Platinum (July 09) gain $15.90, EOD $1,137.90 ($US per Troy ounce)
Copper (July 09) shed $0.06, EOD $2.08 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (June 09) gain 1.03, EOD 64.80
Pork Bellies (July 09) gain 1.00, EOD 79.80
Live Cattle (June 09) shed 0.25, EOD 82.13
Feeder Cattle (August 09) gain 0.10, EOD 98.78

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (July 09) shed 0.25, EOD 404
Soybeans (July 09) shed 2.50, EOD 1,101

BOND MARKET:

2 year EOD 99 26/32, change -1/32, Yield 0.96, Yield change 0.02
5 year EOD 99 5/32, change -4/32, Yield 2.04, Yield change 0.02
10 year EOD 96 17/32, change -3/32, Yield 3.16, Yield change 0.01
30 year EOD 90 12/32, change 3/32, Yield 4.06, Yield change 0.00