Stock Markets Review

US stock market daily report. (February 05, 2010, Friday)

Date: 5 February 2010
Contributed by Millennium Traders

By Millennium Traders

 

Dow Jones Industrial Average fell again today, but rebounded all losses in the afternoon. Yesterday, the Dow ended the trading session down 268 points closing at 3 month lows, following a smaller loss on Wednesday; early morning it was down 44 points. A large part of the stock's decline is due to the rising concern that Greece, Spain and Portugal will not be able to manage or pay their increasing debt; investors began selling the euro and started buying the dollar, this week the euro lost 1.1%. Where the problem lies, unlike in the U.S.,  the euro accounts for several countries and if one of them struggles the euro suffers, analysts' say the troubles in Europe isn't causing a severe problem in the markets yet. Investors seemed to be focusing more on global affairs than the economic data; global markets were also down, the troubles in Europe seem to be helping the dollar gain some ground against other currencies. Economists do warn that these problems globally will impact U.S. markets at some point. Another factor into the Dow's descent was the Labor department's weekly report on jobs, giving worse than expected numbers. There was good news in the report, the unemployment rate fell to 9.7% the lowest rate since August 2009. Toyota chief executive apologized Today for the recall of 8 million cars, he did not announce a new recall of the Prius Hybrid, there have been rumored reports of brake problems. They said they would also be examining braking systems on hybrid Lexus cars since they use the same braking system. Five stocks fell for every two that rose on Wall Street today, volume came to 127.3 million shares, as compared with the 100.5 million traded during the same point Thursday. At the end of the trading session stocks rebounded, the Dow recovered all of the morning's losses and gained 10 points. Bond prices rose, the yield on the benchmark 10-year note fell to 3.56 from 3.59 Wednesday. Commodity prices fell; gold fell $9.50 to $1,053.50 an ounce, crude oil fell $1.49 to $71.65.

 


Economic data released today:


Nonfarm Payrolls:
U.S. January Nonfarm Payrolls fell 20K; Compared to Consensus of Unchanged; U.S. January Manufacturing Payrolls rose 11K; Service-Producing rose 40K; U.S. December Payrolls Revised to fall150K from a decrease by 85K.


Unemployment Rate:
U.S. January Unemployment Rate 9.7%; Compared to Consensus of 10.1%; U.S. December Unemployment Left Unrevised at 10.0%.


Average Hourly Earnings:
U.S. January Average Hourly Earnings rose $0.05 to $18.89.


Average Weekly Hours:
U.S. January Overall Workweek rose 0.1 Hour to 33.3 Hours.


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 10.81 points, EOD 10,012.99
NYSE (New York Stock Exchange) shed 5.11, EOD 6,782.75
National Association of Securities Dealers Automated Quotations (NASDAQ) gain 15.62 points, EOD 2,141.05
S&P 500 (SPX) gain 3.67 points, EOD 1,066.21
BEL 20 (BEL20) shed 62.38 points, EOD 2,392.52
CAC 40 (CAC40) shed 125.49 points, EOD 3,563.76
FTSE100 (UKX100) shed 78.39 points, EOD 5,060.92
NIKKEI 225 (NIK/O) shed 29.53 points, EOD 10,057.09


New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 1,338 declined stock prices 1,764, unchanged stock prices 97, stock prices hitting new highs 20 and stock prices hitting new lows 30. 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: MA shed 1.37, HOD 225.40, LOD 217.15, EOD 220.74; RTP gain 2.37, HOD 195.30, LOD 185.56, EOD 195.30; PNK shed 0.03, HOD 7.70, LOD 7.10, EOD 7.39; MO shed 0.04, HOD 19.41, LOD 19.14, EOD 19.38; CME gain 11.51, HOD 282.67, LOD 271.00, EOD 280.80; BLK shed 2.3467, HOD 212.50, LOD 200.56, EOD 208.79; ARG gain 17.43, HOD 62.82, LOD 59.98, EOD 60.96; EDC shed 4.26, HOD 95.46, LOD 85.60, EOD 93.44; IOC gain 0.33, HOD 61.32, LOD 57.18, EOD 61.00; FCX shed 3.49, HOD 70.29, LOD 66.03, EOD 70.23.


National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,464, declined stock prices 1,232, unchanged stock prices 128, stock prices hitting new highs 16 and stock prices hitting new lows 52. 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: AAPL gain 3.41, HOD 196.00, LOD 190.85, EOD 195.46; BIDU gain 7.94, HOD 449.24, LOD 439.15, EOD 448.80; ILMN shed 1.14, HOD 36.81, LOD 34.25, EOD 35.48; TTMI shed 0.3827, HOD 9.44, LOD 8.60, EOD 8.95; SFSF shed 0.88, HOD 16.34, LOD 15.07, EOD 15.61; FSLR gain 0.73, HOD 114.40, LOD 110.84, EOD 114.19; PFWD shed 4.25, HOD 11.71, LOD 10.43, EOD 10.60; AMAG shed 0.35, HOD 38.24, LOD 34.06, EOD 37.77; ISRG gain 41.21, HOD 326.45, LOD 315.52, EOD 325.41.


Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 229, declined stock prices 268, unchanged stock prices 40, stock prices hitting new highs 3 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) Mar 10: EOD 1057.25; Change -4.50
E-mini NASDAQ-100 (NQ) Mar 10: EOD 1,738.00; Change 3.25
E-mini DOW $5 (YM) Mar 10: EOD 9,921; Change -58
E-mini S&P MidCap 400 (MF) Mar 10: EOD 691.90; Change -4.90
Nikkei 225 (Yen) Mar 10: EOD 9,925; Change -110


World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7321 U.S. Dollars 1.3660
Japanese Yen 89.3900 to U.S. Dollars 0.0112
British Pound 0.6398 to U.S. Dollars 1.5630
Canadian Dollar 1.0703 to U.S. Dollars 0.9343
Swiss Franc 1.0728 to U.S. Dollars 0.9321

 

 

COMMODITY MARKETS:


Energy Sector - Nymex:
Light Crude (March 10) shed $1.49, EOD $71.65 per barrel ($US per barrel)
Heating Oil (March 10) shed $0.06, EOD $1.87 a gallon ($US per gallon)
Natural Gas (March 10) gain $0.11 EOD $5.52 per million BTU ($US per mmbtu.)
Unleaded Gas (March 10) shed $0.06 EOD $1.89 gallon ($US per gallon)


Metals Markets - Comex:
Gold (April 10) shed $9.50, EOD $1,053.50 ($US per Troy ounce)
Silver (March 10) shed $0.47, EOD $14.88 ($US per Troy ounce)
Platinum (April 10) shed $34.30, EOD $1,481.00 ($US per Troy ounce)
Copper (March 10) shed $0.02, EOD $2.86 ($US per pound)


Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (April 10) shed $0.20, EOD $66.73
Pork Bellies (May 10) shed $0.75, EOD $80.00
Live Cattle (April 10) gain $0.33, EOD $90.40
Feeder Cattle (March 10) gain $1.08, EOD $98.33


Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (March 10) shed $2.00, EOD $352.00
Soybeans (March 10) gain $3.00, EOD $913.50

 

 

BOND MARKET:
2 year EOD 100 6/32, change 2/42, Yield 0.76, Yield change -0.04
5 year EOD 100 2/32, change 10/32, Yield 2.23 Yield change -0.07
10 year EOD 98 15/32, change 12/32, Yield 3.56 Yield change -0.04                    
30 year EOD 97 23/32, change 17/32, Yield 4.51, change -0.03





Latest USA Stock Market Reports
US stock market opening report (March 12, 2010, Friday)

The triple A rating of the US is at risk, S&P has warned, unless the country adopts a credible medium-term plan to rein in fiscal spending. In a report published yesterday, the ratings agency said that there were risks that “external creditors could reduce their US dollar holdings, especially if they conclude that Eurozone members are adopting stronger macroeconomic policies”. (FT) In other news, Fed’s Yellen is said to be Obama’s choice for Federal Reserve vice chair. Also in the news, White House’s Summers said US recovery has a very long way to go, however US economy is very close to employment growth and deficit must come down after recovery strengthens. (BBG)



US stock market daily report. (March 12, 2010, Friday)
A court-appointed investigator said in a 2,200 page document that Lehman Brothers failure was due to the company's own senior executives and auditor. Lehman Bothers, who filed for bankruptcy is 2008, used "materially misleading" accounting gimmicks to try to hide the bad investments on the company's books, and to play off the amount of borrowed money. In the report, it is said that Lehman used financial engineering to remove around $50 billion of undesirable assets from its balance sheet at the end of the first and second quarters of 2008, instead of selling those assets at a loss. Coincidently, the company made those moves just months before it filed for bankruptcy; Lehman accountants at Ernst & Young, along with senior executives were all well aware of the money shuffling, according to examiner Mr. Valukas. A major part of the report focused on those accounting maneuvers, known as "Repo 105." included in the report were e-mails from Lehman's global financial controller confirming that "the only purpose or motive for [Repo 105] transactions was reduction in the balance sheet," also stating, "there was no substance to the transactions." Putting aside money shuffling and hiding bad investments, the report was very critical of Lehman's executives, who according to Valukas, "should have done more, done better." However, "the demands for collateral by Lehman's lenders had direct impact on Lehman's liquidity," Valukas also said, "the demands for collateral by Lehman's lenders had direct impact on Lehman's liquidity," "Lehman's available liquidity is central to the question of why Lehman failed."  The lenders he mentioned were Citigroup and JPMorgan Chase. Since Lehman Brother's filed for bankruptcy Wall Street crashed, stocks hit 12 year lows and we were faced with the biggest crisis since the Great Depression. Federal Government officials had to pump billions of dollars into the nation's financial system to prevent further damage. Stocks traded in a tight range yet again today, volume was light. Investors were given a better than expected report from the Commerce Department, they reported retail sales rose 0.3% last month. Commodity prices along with the dollar fell; gold fell $1.20 to $1,107.00 and crude oil fell $0.83 to $81.28. Bond prices rose, the yield on the benchmark 10-year note fell to 3.70 from 3.72 Thursday.

US stock market opening report (March 11, 2010, Thursday)

Pimco’s El-Erian said deteriorating public finances may affect the global economy more than is currently realised. (BBG) Elsewhere, Dubai World will present its first concrete proposals to local banks today on restructuring USD 22bln in debt, according to unnamed sources. (The National newspaper) New York State may have to borrow to smooth a path back to financial health over the next few years, its lieutenant governor said on Wednesday, highlighting the severity of the fiscal trouble facing US states in the wake of the financial crisis and economic recession. (FT)




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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