U.S. job losses reportedly pushing up mortgage defaults, something that would not take a rocket scientist to calculate. Trading activity during the session today provided both ample opportunity for potential profitable trades for traders as well as, ample opportunity to fall asleep. The afternoon trading session was flat. Major U.S. indices shrugged off the negative territory to close positive, at the closing bell.

Chicago Fed reported: April Midwest Manufacturing Index down 1.1% on the month; April Midwest Manufacturing Index down 22.7% on the year; April Regional Auto Output -2.0% M/M; April Regional Auto Output down 33.3% Y/Y; April Steel Output fell 3.4% M/M; April Steel Output down 36.0% Y/Y; April Machinery Output fell 1.8% M/M; April Machinery Output down 24.7% Y/Y; April Resources Output rose 0.5% M/M; April Resources Output down 10.7% Y/Y.

General Motors is expected to identify 14 factories scheduled to be closed, next Monday. Holders of 20% of notes have given notice that they are prepared to accept the offer from GM. Proposal by GM would have provided incentives for unsecured Bondholders. U.S. Treasury Department offered 10% of 'new GM' if support received from bondholders. With the proposal, current GM shareholders would receive no new shares as well as no stake for current common shareholders. New action taken is expected to result in a 'new GM' with a healthy balance sheet. New proposal would have put GM on path toward long-term viability. 

GM is expected to not be publicly traded for a period of time but will probably go public again after 6 to 18 months. New General Motors expected to be highly profitable if the automobile market improves. Initial loans to GM from the Treasury Dept. 'Didn't Accomplish Anything'. GM to repay loans to U.S. Treasury with equity. U.S. Treasury to back the sale of 'Toxic' GM assets and to extend $50 billion in support.

Energy Information Administration: U.S. March Oil use lowest In March since 1997; U.S. March Oil use lowest any month down May 1998; U.S. March Oil use Revised down 1% versus estimate at 18.672 Million barrels per day; U.S. Revised 1Q Oil use lowest since 1998; U.S. Revised March Gasoline use down 1.9% versus estimate; U.S. Revised March Gasoline use down 2.2% versus year ago; U.S. Revised 1Q Oil Use down 5.2% versus year ago at 18.839 Million barrels per day; U.S. Revised March Gasoline use 8.866 Million barrels per day, lowest since December; U.S. Revised March Gasoline use lowest in March since 2003; U.S. March Diesel Fuel use down 8.2% versus year earlier; U.S. Revised March Distillate use down 2.3% versus estimate.

Economic data released today:

Durable Goods Orders:
U.S. April Durable Goods Orders rose 1.9% compared to consensus of unchanged; U.S. April Durable Goods Orders, Excluding Transportation rose 0.8%; U.S. April Durable Goods Orders, Excluding Defense rose 1.0%; U.S. March Durable Goods Orders revised to a drop by 2.1% from a drop by 0.8%.

Initial Jobless Claims:
U.S. Jobless Claims for week of May 23 fell 13K to 623K compared to survey of a drop by 6K; U.S. Continuing Claims for week of May 16 rose 110K to 6,788,000; U.S. Jobless Claims Revised for week of May 16 to 636K from 631K; U.S. Continuing Claims set new record for 17th consecutive week.

New Home Sales:
U.S. April New Home Sales rose 0.3% to 352K, lower than consensus of 365K; U.S. March New Home Sales revised to 351K from 356K.

Crude Oil Inventories as reported by the Department of Energy:
U.S. Crude Oil Stockpiles fell by 5.413 Million Barrels at 363.111 Million Barrels; U.S. Crude Oil Stockpiles fell by 5.413 Million Barrels in the week compared to expectations of a drop by 0.5 Million Barrels; U.S. Gasoline Stockpiles fell by 0.537 Million Barrels at 203.417 Million Barrels; U.S. Gasoline Stockpiles fell by 0.537 Million Barrels in the week compared to expectations of a drop by 1.7 Million Barrels; U.S. Distillate Stockpiles rose by 0.248 Million Barrels at 148.375 Million Barrels; U.S. Distillate Stockpiles rose by 0.248 Million Barrels in the week compared to expectations of an increase by 1.1 Million Barrels; U.S. Refineries ran at 85.1% versus 81.8% a week ago; U.S. Refineries ran at 85.1% capacity, was seen at 82.10% capacity; U.S. Total Product Demand rose by 0.176 Million Barrels per day at 18.579 Million Barrels per day.

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 103.78 points, EOD 8,403.80
NYSE (New York Stock Exchange) gain 93.50 points, EOD 5,917.06
National Association of Securities Dealers Automated Quotations (NASDAQ) gain 20.71 points, EOD 1,751.79
S&P 500 (SPX) gain 13.77 points, EOD 906.83
BEL 20 (BEL20) loss 20.87 points, EOD 2,063.65
CAC 40 (CAC40) loss 31.16 points, EOD 3,263.70
FTSE100 (UKX100) loss 28.69 points, EOD 4,387.54
NIKKEI 225 (NIK/O) gain 54.35 points, EOD 9,344.64 Closed

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 2,053, declined stock prices 1,057, unchanged stock prices 83, stock prices hitting new highs 15 and stock prices hitting new lows 9. 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 2.46 points, HOD $46.19, LOD $42.94, EOD $43.08; TEX shed 1.80 points, HOD $14.06, LOD $12.84, EOD $13.59; HES gain 2.98points, HOD $66.05, LOD $61.05, EOD $64.36; EOG gain 3.80 points, HOD $73.57, LOD $68.78, EOD $72.07; RTP gain 6.30 points, HOD $177.88, LOD $170.19, EOD $176.70; CME gain 21.44 points, HOD $320.71, LOD $301.05, EOD $319.70; DVN gain 2.02 points, HOD $63, LOD $59.39, EOD $62.31; MON shed 0.88 points, HOD $81.25, LOD $78.25, EOD $79; X gain 0.85 points, HOD $33.17, LOD $31.72 EOD $32.63; BIG shed 1.40 points, HOD $24.87, LOD $22.23, EOD $22.25; ESI shed 3.84 points, HOD $95.23, LOD $89.37, EOD $90.55; ICE gain 5.22 points, HOD $108.11, LOD $102.90, EOD $107.70.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,526, declined stock prices 1,204, unchanged stock prices 150, stock prices hitting new highs 39 and stock prices hitting new lows 11. 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: COST shed 0.95 points, HOD $48.79, LOD $46.54, EOD $47.88; EXEL gain 0.80 points, HOD $6.10, LOD $5.22, EOD $5.31; FSLR gain 3.06 points, HOD $186, LOD $179.99, EOD $183.75; DMND gain 2.90 points, HOD $29.66, LOD $27.01, EOD $28.56; BCSI shed 1.75 points, HOD $14.75, LOD $13.85, EOD $14.25; VPHM gain 0.26 points, HOD $7.05, LOD $6.50, EOD $6.82; SSRI gain 2.05 points, HOD $23.57, LOD $21.13, EOD $22.82; AAPL gain 1.96 points, HOD $135.39, LOD $132.03, EOD $135.01.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 321, declined stock prices 213, unchanged stock prices 64, stock prices hitting new highs 13 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 904.50; Change 12
E-mini NASDAQ-100 (NQ) June 09: EOD 1,417.25; Change 13.25
E-mini DOW $5 (YM) June 09: EOD 8,383; Change 86
E-mini S&P MidCap 400 (MF) June 09: EOD 564.30; Change 2.40
Nikkei 225 (Yen) June 09; EOD 9,515; Change 140

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7172 to U.S. Dollars 1.3943
Japanese Yen 96.86 to U.S. Dollars 0.0103
British Pound 0.6274 to U.S. Dollars 1.594
Canadian Dollar 1.1142 to U.S. Dollars 0.8975
Swiss Franc 1.0848 to U.S. Dollars 0.9921889

COMMODITY MARKETS:

Energy Sector - Nymex:
Light Crude (July 09) gain $1.63, EOD $65.08 per barrel ($US per barrel)
Heating Oil (July 09) gain $0.04, EOD $1.63 a gallon ($US per gallon)
Natural Gas (July 09) gain $0.32, EOD $3.96 per million BTU ($US per mmbtu.)
Unleaded Gas (June 09) gain $0.02, EOD $1.91 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (August 09) gain $8, EOD $963.20 ($US per Troy ounce)
Silver (July 09) gain $0.30, EOD $15.16 ($US per Troy ounce)
Platinum (July 09) gain $8.70, EOD $1,149.80 ($US per Troy ounce)
Copper (July 09) gain $0.02, EOD $2.14 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (July 09) gain 0.50, EOD 67.13
Pork Bellies (July 09) gain 0.25 EOD 72.90
Live Cattle (August 09) shed 1.25, EOD 81.85
Feeder Cattle (August 09) shed 0.63, EOD 101.83

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (July 09) gain 2.75, EOD 426
Soybeans (July 09) shed 8, EOD 1,179

BOND MARKET:

2 year EOD 99 25/32, change 0, Yield 0.97, Yield change 0.00
5 year EOD 98 31/32, change 1 17/32, Yield 2.47, Yield change 0.05
10 year EOD 95 15/32, change 14/32, Yield 3.67, Yield change -0.05
30 year EOD 95 27/32, change 2 1/32, Yield  4.50, change -0.13