Stock Markets Review

USA stock market daily report by Millenium Traders (May 26, 2009, Tuesday, 10.30 p.m. GMT)

Date: 26 May 2009

Nymex Crude settled at $62.45 a barrel, setting a new record high for 2009. Thursday is the scheduled meeting in Vienna, Austria for OPEC (Organization of Petroleum Exporting Countries). Saudi Arabian Oil Minister Ali al-Naimi indicated that OPEC would "probably stay the course" regarding oil production although, al-Naimi anticipates the demand for oil to increase, possibly pushing prices up to $75 a barrel. French President Nicolas Sarkozy today said he wants oil-rich countries and the world's biggest powers to work together to help stabilize oil prices. Since February oil has moved higher by approximately 81% where it was trading at around $34 a barrel. Last July oil was trading at its record high of $147.27 a barrel.

 

Fed Discount Rate Minutes show that bankers are expressing concern about the economy and that the economy appears to be still contracting. Some bankers noted concerns about implications of the weakness in the labor market. Some bankers thought activity in some sectors could be showing signs of stabilizing however there are incipient signs that contraction could be slowing.

 

Worries continue over whether General Motors (GM) will in fact, file for bankruptcy protection sometime before the end of next week. Should GM proceed with filing for bankruptcy, any shareholders value, will be gone. GM continues to face resistance from bondholders who continue to refuse to accept any deal with the vote on a proposal expected tonight before midnight ET. News was out today that the United Auto Workers Union (UAW) Benefits decision comes in response to GM as it continues to struggle to stay afloat. UAW says the Treasury 'Insisted' on immediate benefit cuts.

 

Improved consumer confidence put investors and traders, into the buying mood today with the DOW ahead in the high triple digit figures into the afternoon trading session. However, trading action was extremely tight for the session as many traders took an extended vacation after the extended weekend holiday and stayed out of the markets for today. Apple (AAPL) provided quite a stir in action today after an upgrade gave a boost to share value.

 

Digital Sky Technologies from Russia pumped $200 million into Facebook. Previously Facebook had received a injection of $400 million from Microsoft (MSFT), Founders fund and Accel Partners and Greylock Partners. Value of what is considered the worst ad market for an Internet company, Facebook, is set at $10 billion.

 

Economic data released today:

 

S&P/CS Home Price Indices Composite - 20:
S&P Case-Shiller March 10-City Home Price Index down 18.6% year over year; S&P Case-Shiller March 20-City Home Price Index down 18.7% year over year; S&P Case-Shiller Mar 10-City Home Price Index down 2.1% month over month; S&P Case-Shiller March 20-City Home Price Index down 2.2% month over month; S&P Case-Shiller 1Q U.S. National Home Price Index down 19.1% year over year; S&P Case-Shiller 1Q U.S. National Home Price Index down 7.5% quarter over quarter.

 

Consumer Confidence:
U.S. Conference Board May Consumer Confidence came in at 54.9 versus April reading at 40.8; U.S. Conference Board May Present Situation Index came in at 28.9 versus April reading at 25.5; U.S. Conference Board May Expectations Index came in at 72.3 versus April reading at 51.0.

 

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) triple digit gain 196.17 points, EOD 8,473.49
NYSE (New York Stock Exchange) triple digit gain 146.96 points, EOD 5,936.58
National Association of Securities Dealers Automated Quotations (NASDAQ) gain 58.42 points, EOD 1,750.43
S&P 500 (SPX) gain 23.33 points, EOD 910.33
BEL 20 (BEL20) gain 0.95 points, EOD 2,065.59
CAC 40 (CAC40) gain 42.12 points, EOD 3,270.09
FTSE100 (UKX100) gain 46.43 points, EOD 4,411.72
NIKKEI 225 (NIK/O) gain 54.35 points, EOD 9,344.64

 

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 2,545, declined stock prices 543, unchanged stock prices 74, stock prices hitting new highs 14 and stock prices hitting new lows 6. 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: SKF shed 3.51 points, HOD $47.20, LOD $42.62, EOD $42.81; RTP gain 2.95 points, HOD $177.53, LOD $169.25, EOD $176.79; DCI gain 1.66 points, HOD $33.39, LOD $31, EOD $33.27; CME gain 8.37 points, HOD $306.29, LOD $289.50, EOD $301.63; POT gain 2.95 points, HOD $117.54, LOD $112.10, EOD $117.45; ICE gain 2.58 points, HOD $102.69, LOD $98.17, EOD $102.08; DVN gain 1.67 points, HOD $61.49, LOD $58.06, EOD $61.42.

 

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 2,125, declined stock prices 649, unchanged stock prices 107, stock prices hitting new highs 38 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: BIDU gain 5.54 points, HOD $248.65, LOD $236.50, EOD $245.44; FSLR shed 12.47 points, HOD $185.75, LOD $176.26, EOD $179.25; AAPL gain 8.22 points, HOD $130.83, LOD $124.55, EOD $130.72.

 

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 311, declined stock prices 224, unchanged stock prices 62, stock prices hitting new highs 6 and stock prices hitting new lows 2.

 

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) June 09: EOD 909.25; Change 24.25
E-mini NASDAQ-100 (NQ) June 09: EOD 1,413.50; Change 52.75
E-mini DOW $5 (YM) June 09: EOD 8,468; Change 208
E-mini S&P MidCap 400 (MF) June 09: EOD 571; Change 22.80
Nikkei 225 (Yen) June 09; EOD 9,505; Change 285

 

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7153 to U.S. Dollars 1.3981
Japanese Yen 95.02 to U.S. Dollars 0.0105
British Pound 0.6279 to U.S. Dollars 1.5927
Canadian Dollar 1.1169 to U.S. Dollars 0.8953
Swiss Franc 1.0843 to U.S. Dollars 0.9223

 

COMMODITY MARKETS:

 

Energy Sector - Nymex:
Light Crude (July 09) gain $0.78, EOD $62.45 per barrel ($US per barrel)
Heating Oil (July 09) gain $0.01, EOD $1.56 a gallon ($US per gallon)
Natural Gas (July 09) gain $0.01, EOD $3.64 per million BTU ($US per mmbtu.)
Unleaded Gas (June 09) gain $0.01, EOD $1.85 a gallon ($US per gallon)

 

Metals Markets - Comex:
Gold (June 09) loss $5.60, EOD $953.30 ($US per Troy ounce)
Silver (July 09) gain $0.10, EOD $14.60 ($US per Troy ounce)
Platinum (July 09) gain $20.20, EOD $1,139.80 ($US per Troy ounce)
Copper (July 09) gain $0.04, EOD $2.14 ($US per pound)

 

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (June 09) loss 0.40, EOD 67.18
Pork Bellies (July 09) loss 0.78 EOD 72.43
Live Cattle (June 09) gain 0.05, EOD 83.83
Feeder Cattle (August 09) gain 0.65, EOD 102.58

 

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (July 09) loss 2.75, EOD 427.50
Soybeans (July 09) gain 19.50, EOD 1,186.50

 

BOND MARKET:


2 year EOD 99 29/32, change -2/32, Yield 0.92, Yield change 0.03
5 year EOD 98 7/32, change -8/32, Yield 2.25, Yield change 0.05
10 year EOD 96 14/32, change -26/32, Yield 3.55, Yield change 0.10
30 year EOD 96 1/32, change -1 20/32, Yield  4.49, change 0.10

 





Latest USA Stock Market Reports
US stock market opening report (March 10, 2010, Wednesday)

European bourses opened unchanged and moving into the North American open are trading in minor positive territory. Basic materials has been the best performing sector due to strength in metals, especially Gold, followed by oil and gas sector as OPEC raising its 2010 world oil demand growth forecast provided strength to WTI crude futures. Fed’s extended period rate pledge has been criticised by some on the FOMC. Kansas City Fed President Thomas Hoenig voted against repeating the statement on January 27 because he wanted to keep “the broadest options possible”. Since then, Dallas Fed President Richard Fisher, James Bullard of St. Louis and the Philadelphia Fed’s Charles Plosser have also expressed reservations. (BBG)



US stock market daily report. (March 10, 2010, Wednesday)
OPEC or Organization of the Petroleum Exporting Countries announced today they were raising its 2010 forecast for global oil demand. In the report, the Organization said global oil demand rose to 85.24 million barrels per day, that's around 100,000 barrels per day higher than they forecasted in their February report. Also in today's report, the company said its suppliers will need to produce 28.9 million barrels of oil a day to meet this year's growing demand. In the February report they forecasted the demand would be around 190,000 barrels a day less than its current demand. OPEC said in the report that world oil demand is expected to grow by 900,000 barrels a day in 2010, they said its forecast is dependant on a prolonged global economic recovery. If the demand for oil continues to rise oil prices will also continue to rise. If both of these things happen higher gasoline prices are inevitable. Analysts predict seeing prices rise above the $3 a gallon mark moving into the summer months.In company news, J. Crew reported late Tuesday better than expected fourth-quarter profit of. $40.4 million, or 61 cents per share, a turnaround from last year's loss of 22 cents per share. Analysts had expected earnings of 46 cents per share. The report showed that sales rose 19% to $460.6 million, beating analysts forecasts of $443 million. Stocks were on the rise again today, trading volume was relatively low today but picked up slightly toward the end of the session. Commodity prices were mixed, gold fell $14.10 to $1,108.20 and crude oil rose $0.35 to $81.84. Bond prices fell, the yield on the benchmark 10-year note rose to 3.71 from 3.67 Tuesday.

US stock market opening report (March 09, 2010, Tuesday)

European bourses opened in minor positive territory, however soon lost strength following downbeat comments from Fitch on European sovereign ratings, which provided strength to the USD index due to the risk-averse trade that in turn weighed upon commodity-linked stocks. Comments from Fitch combined with those from Moody’s on possible downgrade of some British banks adversely affected the financial sector. Moving into the North American open, European equities are trading in negative territory with financials and basic materials being the worst performing sectors. Fitch said Greece bailout is too uncertain to factor into rating, and Portugal may be downgraded if consolidation is insufficient, however Greek contagion risk to Portugal and Spain is not as great as market believes. Fitch further said that among larger AAA sovereigns, urgency is greatest for UK, Spain and France, and it hasn’t seen credible exit strategies from most nations. Fitch also said that US is vulnerable to interest rate shocks, however there is no pressure on US credit rating in short-to-medium term. (BBG/RTRS)




USA Stocks Recommendations
Intel Corp. (Nasdaq:INTC) is poised to top estimates over the next two quarters, 8 September 2009
Intel Corp. (Nasdaq: INTC) is a cyclical company.  That is, its stock does extremely well when the economy is ready to accelerate, and does poorly when the economy decelerates.  So it’s no wonder that last year the stock fell more than 50% from the record-high of $27.78 a share it reached December 2007. However, the company has rallied more than 50% from its Feb. 23 low of $12.08 a share. It closed Friday at $19.64.

Verint Systems price target reduced, 7 December 2007
RBC Capital Markets reduced its price target on Verint Systems from $34 to $25.

Thomas Weisel upgraded Intel to "overweight", 6 December 2007
Thomas Weisel Partners analyst Kevin Cassidy lifted price target on Intel shares from $28 to $33 per share, citing an expected jump in computer demand during 2008.

USA News
On the cusp of job growth, 10 March 2010

Under the weather, 1 March 2010

Everything you wanted to know about the fed..., 23 February 2010

Further evidence of a recovery, 17 February 2010

The January jobs data, 9 February 2010



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