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USA stock market daily report by Millenium Traders (June 16, 2009, Tuesday, 10.30 p.m. GMT)

Food and Drug Administration pounced on Matrixx Initiatives (MTXX) today, sending the stock to the basement. FDA urged consumers to cease using Zicam products, which  are zinc-based, because some users have experienced losing their sense of smell.  MTXX lost over 70% percent of its value after the slamming it received by the FDA.

Markets were firmly in negative territory during the market session today. Triple digit losses hit on the major U.S, indices once again today. Again, economic data played a key role in the negative market sentiment. Positive news on the housing sector didn't provide enough strength for the markets to move to the green side. Stocks in the homebuilder sector showed slight gains, as a result of the positive housing market news. Even though Best Buy reported better than expected earnings, the results were not good enough for investors.

Reserve Governor Kevin Warsh warned Tuesday that key pillars of growth in the U.S. could disappoint for "several" quarters including, unemployment stubbornly high. Weakness may not simply be temporary, Warsh warned, especially if policymakers sacrifice economic growth in the name of achieving stability in the short run. In prepared remarks to the Institute of International Bankers, Warsh noted to the Institute of International Bankers, that financial conditions have improved since March coinciding with the "proverbial green shoots of spring." "I, like you, am rooting for the positive trend to continue," Warsh told the bankers. "But, in my estimation, the rather indiscriminate bounce off the bottom across virtually all assets and geographies may be more indicative of a one-time reset, which may or may not be complete," he said.  Warsh warned that the "trauma" of consumers and businesses "should not be underestimated. Notwithstanding recent encouraging signs that the contraction is abating, I would expect business capital expenditures and consumer spending to continue to disappoint for the next several quarters," he said. Unemployment may linger with us at higher levels than during recent recessions, Warsh said and added that, "the 'jobless recovery' may prove to be a familiar and vexing refrain."  "The economy's natural unemployment rate, which was thought before the crisis to be about 5%, could trend higher," he said. Warsh's bleak outlook was not limited to the U.S. The global economy, he said, "runs the risk of being mired in a period of slower growth for several years to come." As usually occurs during recessional recoveries, capital and labor tend to shift across industries. In the case of the current recession, those "misallocations" were serious thus "there is good reason to believe that the period of reallocation will be deeper and last longer." Noting that finance and housing sectors are already shrinking in size, Warsh warned that "efforts to forestall those changes, are unlikely to succeed as promisingly as advertised." in light of the already shrinking, finance and housing sectors. "But perhaps a larger risk is that changes in public policies may, in the pursuit of stability, hold down the growth of the U.S. economy over this period," Warsh said.

Economic data released today: 

Building Permits:
Building Permits rose 4.0% to 518,000 rate in May.

Producer Price Index (PPI):
U.S. May Producer Prices rose 0.2% compared to consensus of an increase by 0.6%; U.S. May PPI Excluding-Food & Energy down 0.1%; Consensus compared to consensus of an increase by 0.1%; U.S. May PPI Intermediate Goods rose 0.3%; U.S. May PPI Intermediate Goods Core down 0.2%; U.S. May PPI Crude Goods rose 3.6%; U.S. May PPI Crude Goods Core rose 6.7%; U.S. May PPI Energy Prices rose 2.9%; U.S. May Passenger Car Prices rose 0.1%; U.S. Apr PPI Unrevised at an increase by 0.3%; U.S. PPI drop by 5% on the year is the biggest decline since August 1949.

Housing Starts:
U.S. May Housing Starts rose 17.2% to 532,000 compared to consensus of an increase by 7.0%; U.S. April Housing Starts Revised to a drop by 12.9% from a drop by 12.8%; U.S. May Single-Family Starts rose 7.5% to 401,000 striking 3rd straight rise.

Industrial Production:
U.S. May Industrial Production fell 1.1% compared to consensus of an drop by 1.1%; U.S. April Industrial Production Revised to a drop by 0.7% from a drop by 0.5%.

Capacity Utilization Rate:
U.S. May Capacity Utilization  fell 0.7 points at 68.3% compared to consensus of 68.2%; U.S. April Capacity Use Revised to 69.0% from 69.1%.

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) triple digit loss 107.46 points, EOD 8,504.67
NYSE (New York Stock Exchange) shed 80.50 points, EOD 5,886.76
National Association of Securities Dealers Automated Quotations (NASDAQ) shed 20.2 points, EOD 1,796.18
S&P 500 (SPX) shed 11.75 points, EOD 911.75
BEL 20 (BEL20) shed 13.39 points, EOD 1,995.59
CAC 40 (CAC40) shed 5.63 points, EOD 3,213.95
FTSE100 (UKX100) gain 2.56 points, EOD 4,328.57
NIKKEI 225 (NIK/O) triple digit loss 286.79 points, EOD 9,752.88

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 862, declined stock prices 2,204, unchanged stock prices 104, stock prices hitting new highs 7 and stock prices hitting new lows 8. 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: MMR shed 1.46 points, HOD $6.64, LOD $5.77, EOD $5.79; TEL gain 0.72 points, HOD $21.77, LOD $19.92, EOD $19.98; SAY gain 0.48 points, HOD $4.28, LOD $3.69, EOD $3.92; GWR shed 2.01 points, HOD $26, LOD $24.33, EOD $24.59; BBY shed 2.82 points, HOD $38.15, LOD $35.62, EOD $35.84; NUE gain 1.11 points, HOD $48.44, LOD $46.42, EOD $46.86; WLP gain 1.32 points, HOD $48.06, LOD $45.43, EOD $47.05; CME shed 1.69 points, HOD $336.48, LOD $327.38, EOD $328.89; DVN shed 1.07 points, HOD $64.86, LOD $62.22, EOD $62.62; RTP shed 9.70 points, HOD $189.17, LOD $180.13, EOD $181.56.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 788, declined stock prices 1,908, unchanged stock prices 140, stock prices hitting new highs 16 and stock prices hitting new lows 14. 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: MTXX shed 13.46 points, HOD $19.22, LOD $5.48, EOD $5.78; GENZ shed 0.37 points, HOD $13.23, LOD $12.72, EOD $12.78; FSLR shed 6.94 points, HOD $182.75, LOD $171.51, EOD $172.04; BIDU shed 3.31 points, HOD $296.75, LOD $287.40, EOD $289.00; STEC gain 4.86 points, HOD $23.89, LOD $19.18, EOD $22.88; SNDA shed 0.82 points, HOD $56.62, LOD $53.10, EOD $53.58.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 232, declined stock prices 301, unchanged stock prices 57, stock prices hitting new highs 5 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) Sept 09: EOD 907.75; Change 0.00
E-mini NASDAQ-100 (NQ) Sept 09: EOD 1,443.75; Change -0.75
E-mini DOW $5 (YM) Sept 09: EOD 8,445; Change -4
E-mini S&P MidCap 400 (MF) Sept 09: EOD 569.10; Change -0.60
Nikkei 225 (Yen) Sept 09: EOD 9,660; Change 5

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7228 to U.S. Dollars 1.3836
Japanese Yen 96.38 to U.S. Dollars 0.0104
British Pound 0.6094 to U.S. Dollars 1.6409
Canadian Dollar 1.1349 to U.S. Dollars 0.8811
Swiss Franc 1.0882 to U.S. Dollars 0.9189

COMMODITY MARKETS:

Energy Sector - Nymex:
Light Crude (July 09) shed $0.15, EOD $70.47 per barrel ($US per barrel)
Heating Oil (July 09) gain $0.01, EOD $1.83 a gallon ($US per gallon)
Natural Gas (August 09) shed $0.07, EOD $4.31 per million BTU ($US per mmbtu.)
Unleaded Gas (July 09) gain $0.02, EOD $2.07 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (August 09) gain $4.70, EOD $932.20 ($US per Troy ounce)
Silver (July 09) gain $0.10, EOD $14.13 ($US per Troy ounce)
Platinum (July 09) gain $7.20, EOD $1,220.90 ($US per Troy ounce)
Copper (September 09) shed $0.03, EOD $2.27 ($US per pound) 

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (August 09) shed 0.30, EOD 58.10
Pork Bellies (July 09) gain 0.25, EOD 59.15
Live Cattle (August 09) shed 0.45, EOD 80.38
Feeder Cattle (August 09) shed 0.70, EOD 96.50

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (December 09) shed 2.50, EOD 425.25
Soybeans (November 09) gain 3.75, EOD 1,028.50

BOND MARKET:

2 year EOD 99 13/32, change 3/32, Yield 1.17, Yield change -0.05
5 year EOD 98 2/32, change 8/32, Yield 2.66, Yield change -0.06
10 year EOD 95 21/32, change 16/32, Yield 3.65, Yield change -0.06
30 year EOD 95 27/32, change 29/32, Yield  4.50, change -0.06