News & Analysis » US

USA stock market daily report by Millenium Traders (June 4, 2009, Thursday, 10.30 p.m. GMT)

Rio Tinto provided nice trading action for the active day traders today with double digit losses during the morning session. Into the afternoon trading session, Rio was successful at re-cooping some of the loss amidst active trading. Reason for the major move is that Rio Tinto is considering scrapping the on the table deal with Aluminum Corporation of China, Chinalco. Potential plans consist of Rio raising $15 billion by selling stock versus accepting over $12 billion from Chinalco for stakes in various assets. In the event the deal is tossed, Rio faces a breakup fee of around $195 million.

Major U.S. indices held generally firm in positive territory throughout the trading session. The DOW was successful at closing today at its highest level seen, since the beginning of January. Trading volume was generally light across the board. Dreaded crude oil continues to climb higher as the price at the pump follows crudes lead. Upcoming economic data scheduled for tomorrow is expected to move the markets. Bank of England and the European Central Bank left interest rates unchanged. Bank of England maintained its key interest rate at 0.5% and European Central Bank held their interest rates at 1%.

Comments from Sandra Pianalto, president of the Cleveland Federal Reserve Bank: Unemployment May take long time to normalize; Economic recovery will be slow, prolonged; Economic decline has started to moderate.

Comments from William C. Dudley, Chief Executive Officer of the Federal Reserve Bank of New York: Outlook for ABS markets is ultimately unclear; TALF likely profitable for taxpayers over long run; hard to balance TALF program against speculators; Government loss risk on TALF program is 'very low'; TALF likely to see more changes over time; securitization markets 'still significantly impaired'; sees 'significant improvements' in credit markets; ABS securities market is gradually reviving;  too early to call TALF a resounding success;  'Encouraged' by TALF's impact thus far; TALF program is 'working as designed'.

Economic data released today: 

Initial Jobless Claims:
U.S. Jobless Claims fell by 4K to 621K for week of May 30 compared to survey of a drop by 3K; U.S. Continuing Claims for week of May 23 fell 15K to 6,735,000; U.S. Jobless Claims Revised for week of May 23 to 625K from 623K; Decline in U.S. Continuing Claims first seen since week of January 3.

Nonfarm Productivity:
U.S. 1Q Non-Farm Productivity Revised to increase by 1.6% from increase by 0.8%; U.S. 1Q Non-Farm Productivity Consensus rose 1.2%.

Unit Labor Costs:
U.S. 1Q Unit Labor Costs Revised to increase by 3.0% from increase by 3.3%; U.S. 1Q Unit Labor Costs Consensus rose 2.9%.

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 74.96 points, EOD 8,750.24
NYSE (New York Stock Exchange) gain 76.86 points, EOD 6,110.76
National Association of Securities Dealers Automated Quotations (NASDAQ) gain 24.10 points, EOD 1,850.02
S&P 500 (SPX) gain 10.7 points, EOD 942.46
BEL 20 (BEL20) shed 3.52 points, EOD 2,063.02
CAC 40 (CAC40) gain 2.38 points, EOD 3,312.03
FTSE100 (UKX100) gain 3.52 points, EOD 4,386.94
NIKKEI 225 (NIK/O) shed 72.71 points, EOD 9,668.96

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 2,361, declined stock prices 703, unchanged stock prices 99, stock prices hitting new highs 22 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: CME gain 8.68 points, HOD $336.96, LOD $324.92, EOD $336.71;  GS gain 7.32 points, HOD $149.75, LOD $144.40, EOD $149.47; IOC gain 2.78 points, HOD $37.90, LOD $33.82, EOD $37.75; RTP shed 6.94 points, HOD $185.08, LOD $171.14, EOD $182.68; VLO shed 0.16 points, HOD $19.02, LOD $18.20, EOD $18.23; BHP shed 0.45 points, HOD $57.31, LOD $54.62, EOD $57.04; ANF shed 3.79 points, HOD $29.04, LOD $27.52, EOD $27.91; COF gain 1.09 points, HOD $25.23, LOD $23.55, EOD $25; TGT shed 0.87 points, HOD $40.99, LOD $39.17, EOD $40.09; DE gain 1.69 points, HOD $46.80, LOD $45, EOD $46.42; ARE gain 1.82 points, HOD $40.90, LOD $37.88, EOD $39.98; PRU gain 1.60 points, HOD $42.85, LOD $40.88, EOD $42.11; POT gain 4.7134 points, HOD $115.96, LOD $111.23, EOD $114.79.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,958, declined stock prices 776, unchanged stock prices 142, stock prices hitting new highs 41 and stock prices hitting new lows 7. 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: FSLR gain 5.75 points, HOD $185.10, LOD $178.25, EOD $184.26; ICON shed 0.78 points, HOD $15.29, LOD $14.69, EOD $15.06; CMTL gain 1.43 points, HOD $31.50, LOD $29.58, EOD $30.70.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 359, declined stock prices 176, unchanged stock prices 66, stock prices hitting new highs 10 and stock prices hitting new lows 4.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) June 09: EOD 940.75; Change 9
E-mini NASDAQ-100 (NQ) June 09: EOD 1,492.50; Change 15
E-mini DOW $5 (YM) June 09: EOD 8,728; Change 59
E-mini S&P MidCap 400 (MF) June 09: EOD 596.4; Change 7
Nikkei 225 (Yen) June 09; EOD 9,755; Change 135

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7051 to U.S. Dollars 1.4182
Japanese Yen 96.64 to U.S. Dollars 0.0103
British Pound 0.6177 to U.S. Dollars 1.619
Canadian Dollar 1.0959 to U.S. Dollars 0.9125
Swiss Franc 1.0685 to U.S. Dollars 0.9359

COMMODITY MARKETS:

 
Energy Sector - Nymex:
Light Crude (July 09) gain $2.69, EOD $68.81 per barrel ($US per barrel)
Heating Oil (July 09) gain $0.05, EOD $1.78 a gallon ($US per gallon)
Natural Gas (July 09) gain $0.04, EOD $3.81 per million BTU ($US per mmbtu.)
Unleaded Gas (June 09) gain $0.05, EOD $1.82 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (August 09) gain $16.70 EOD $982.30 ($US per Troy ounce)
Silver (July 09) gain $0.59, EOD $15.90 ($US per Troy ounce)
Platinum (July 09) gain $48.80, EOD $1,293.30 ($US per Troy ounce)
Copper (July 09) gain $0.09, EOD $2.30 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (July 09) gain 0.23, EOD 60.58
Pork Bellies (July 09) shed 3 EOD 62.95
Live Cattle (August 09) gain 0.23, EOD 81
Feeder Cattle (August 09) gain 0.48, EOD 96.60

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (July 09) gain 16, EOD 448.50
Soybeans (July 09) gain 48, EOD 1,230

BOND MARKET:

2 year EOD 99 27/32, change -2/32, Yield 0.94, Yield change 0.03
5 year EOD 98 18/32, change -19/32, Yield 2.56, Yield change 0.14
10 year EOD 95 8/32, change -1 9/32, Yield 3.69, Yield change 0.15
30 year EOD 94 26/32, change -1 29/32, Yield  4.57, change 0.13