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USA stock market daily report by Millenium Traders (May 29, 2009, Friday, 10.30 p.m. GMT)

General Motors (GM) is set to file for bankruptcy, on Monday. Shareholders will be left out in the cold. United Auto Workers (UAW) union members approved a new labor agreement with GM, just this afternoon with approval by 74% of the member.  The UAW will own over 17% of GM and the remaining approximate of 10% will be owned by bondholders. The U.S. government will own over 72% of the new General Motors and plan to provide GM with an additional $30 Billion. Companies associated with GM, such as parts suppliers, are likely to follow suit in filing for bankruptcy as well, following the demise of GM. Crude oil continues its rise as consumers plan their summer get-away and plan for higher prices at the pump.

The markets were totally lost today, not knowing which end was up or down. Trading action was simply flat during the afternoon trading session. Major U.S. indices succeeded in closing in positive territory however, it definitely was a struggle.

Economic data released today:

GDP:
U.S. 1Q GDP revised down 5.7% rate from down 6.1%; U.S. 1Q GDP Consensus down 5.5%; U.S. 1Q Real Final Sales Unchanged at a drop by 3.4%; U.S. 1Q PCE Price Index Unchanged at a drop by1.0%; U.S. 1Q Purchases Price Index Unchanged at a drop by 1.0%; U.S. 1Q Chain-Weighted Price Index revised to an increase by 2.8% rate from an increase by 2.9%; U.S. 1Q Corporate Profits rose 12.9% versus drop by 28.4% in 4Q.

Chicago PMI:
U.S. Chicago Purchasing Management Adjusted May Index 34.9 versus April Index 40.1; U.S. Chicago Purchasing Management May Prices Paid Index 29.8 versus April Index 28.4; U.S. Chicago Purchasing Management May Supplier Deliveries 43.0 versus April Index 45.4; U.S. Chicago Purchasing Management May Employment Index 25.0 versus April Index 31.8; U.S. Chicago Purchasing Management May New Orders Index 37.3 versus April Index 42.1.

University Michigan Consumer Sentiment Index:
End-May Sentiment came in at 68.7 compared to April Sentiment 65.1; End-May Current Index at  67.7 compared to April Index 68.3; 12-Month Inflation Forecast rose 2.8% compared to April increase by 2.8%; End-May Current Index at 67.7 compared to April Current Index of 68.3; End-May Expectations at 69.4 compared to April Expectations of 63.1.

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) gain 96.53 points, EOD 8,500.33
NYSE (New York Stock Exchange) gain 87.01 points, EOD 6,004.07
National Association of Securities Dealers Automated Quotations (NASDAQ) gain 22.54 points, EOD 1,774.33
S&P 500 (SPX) gain 12.31 points, EOD 919.14
BEL 20 (BEL20) gain 7.72 points, EOD 2,071.37
CAC 40 (CAC40) gain 13.95 points, EOD 3,277.65
FTSE100 (UKX100) gain 30.40 points, EOD 4,417.94
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 2,260, declined stock prices 814, unchanged stock prices 89, stock prices hitting new highs 20 and stock prices hitting new lows 7. 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 1.55 points, HOD $43.85, LOD $42.47, EOD $41.53; RTP gain 4.74 points, HOD $184.68, LOD $178.92, EOD $181.44; MET shed 0.38 points, HOD $31.50, LOD $30.27, EOD $31.50; JCG gain 5.40 points, HOD $25.99, LOD $23.62, EOD $25.86; VMW gain 0.97 points, HOD $31.36, LOD $30.09, EOD $31.04; RY shed 0.57 points, HOD $40.98, LOD $39.10, EOD $40.22; DV gain 1.48 points, HOD $44.65, LOD $42.76, EOD $43.57; CME shed 2.31 points, HOD $322.68, LOD $311.35, EOD $321.64; DVN gain 0.93 points, HOD $63.80, LOD $62.18, EOD $63.24; ESI gain 1.24 points, HOD $97, LOD $89.78, EOD $91.79.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,937, declined stock prices 858, unchanged stock prices 115, stock prices hitting new highs 49 and stock prices hitting new lows 20. 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: OVTI gain 0.75 points, HOD $11.94, LOD $10.97, EOD $11.33; FSLR gain 6.17 points, HOD $191.75, LOD $184.50, EOD $189.92;  APOL gain 2.65 points, HOD $60.50, LOD $57.06, EOD $59.08.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 337, declined stock prices 205, unchanged stock prices 54, stock prices hitting new highs 17 and stock prices hitting new lows 1.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) June 09: EOD 922.25; Change 17.25
E-mini NASDAQ-100 (NQ) June 09: EOD 1,439; Change 20.75
E-mini DOW $5 (YM) June 09: EOD 8,521; Change 137
E-mini S&P MidCap 400 (MF) June 09: EOD 578.10; Change 13.80
Nikkei 225 (Yen) June 09; EOD 9,550; Change 40

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7076 to U.S. Dollars 1.4132
Japanese Yen 95.28 to U.S. Dollars 0.0105
British Pound 0.6180 to U.S. Dollars 1.6182
Canadian Dollar 1.0901 to U.S. Dollars 0.9173
Swiss Franc 1.0673 to U.S. Dollars 0.9369

COMMODITY MARKETS:

Energy Sector - Nymex:
Light Crude (July 09) gain $1.23, EOD $66.31 per barrel ($US per barrel)
Heating Oil (July 09) gain $0.05, EOD $1.68 a gallon ($US per gallon)
Natural Gas (July 09) shed $0.12, EOD $3.84 per million BTU ($US per mmbtu.)
Unleaded Gas (June 09) gain $0.02, EOD $1.74 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (August 09) gain $17.10 EOD $980.30 ($US per Troy ounce)
Silver (July 09) gain $0.45, EOD $15.61 ($US per Troy ounce)
Platinum (July 09) gain $46.20, EOD $1,196 ($US per Troy ounce)
Copper (July 09) gain $0.06, EOD $2.20 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (July 09) shed 1.58, EOD 65.63
Pork Bellies (July 09) shed 0.35 EOD 72.60
Live Cattle (August 09) shed 0.05, EOD 81.83
Feeder Cattle (August 09) shed 0.13, EOD 101.75

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (July 09) gain 7.50, EOD 436.25
Soybeans (July 09) gain 5, EOD 1,184

BOND MARKET:

2 year EOD 99 29/32, change 3/32, Yield 0.92, Yield change -0.04
5 year EOD 99 15/32, change 15/32, Yield 2.34, Yield change -0.11
10 year EOD 97 4/32, change 1 7/32, Yield 3.46, Yield change -0.15
30 year EOD 98 12/32, change 2 10/32, Yield  4.34, change -0.14