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US stock market daily report. (March 09, 2010, Tuesday)

Contributed by Millennium Traders

By Millennium Traders

In today's market update stocks were on the rise after a rocky start on merger deals and profit reports. Today marks the one year anniversary of the day the stock market began its rally that would bring stocks back from 12-year lows reached during the financial crisis. Last year on March 9, 2009, Dow Jones industrial average ended the day at a low of 6,547.05. Since that day, the Dow has gained 61.2% of those losses taking it to 10,552.52. Along with the Dow, the Standard & Poor's 500 index gained 68%, the index was at its lowest point in 12 1/2 years. The Nasdaq saw a gain of 84%, pulling it off of six-year lows; overall, stocks are still over 25% below their highs of 2007. Analysts say that the rally was one of the market's best rallies since 1930; they say part of the reason why the market started recuperating losses was due to Citigroup announcing they had their best quarterly performance since 2007.  That was the day the Dow surged 379 points! In corporate news; Merck and Sanofi-Aventis announced they are combining animal health care businesses to create one of the largest in the world, combined business will have around a 29% market share in a global market worth approximately $19 billion. Texas Instruments announced Monday that they will update its first-quarter profit estimates be between $0.48 and $0.52 a share on revenue of $3.07 billion to #3.19 billion. The Dow was up 21 points with just under an hour left in the trading session, there was some decent trading action in the afternoon. Commodity prices mostly fell, gold fell $2.20 to $1,121.80 and crude oil fell $0.61 to $81.26. Bond prices rose, the yield on the benchmark 10-year note fell to 3.67 from 3.70 Monday.

Comments from Charles Evans, President of the Chicago Federal Reserve Bank:
Labor market 'bleaker' than rate suggests; 6 months good period to have accommodative policy; Longer jobless spells may hit demand, confidence; Labor issues underpin policy accommodation; High unemployment likely to keep inflation in check; To rely on interest on reserves until Fed funds at 1%-2%; 'Extended period' for low rates still appropriate; Fed asset sales option for exit, market impact a concern; Must study sovereign default swaps amid concerns; Need reform of GSEs due to moral hazard concerns; U.S. recovery on track, inflation fell dramatically.

Economic data released today:

IBD/TIPP Economic Optimism:
U.S. March IBD/TIPP Economic Optimism Index 45.4 versus 46.8 in February; U.S. March IBD/TIPP 6-Month Economic Outlook 46.4.

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 10.35 points, EOD 10,562.87
NYSE (New York Stock Exchange) gain 1.41, EOD 7,293.94
National Association of Securities Dealers Automated Quotations (NASDAQ) gain 7.96 points, EOD 2,340.17
S&P 500 (SPX) gain 1.83 points, EOD 1,140.33
BEL 20 (BEL20) gain 5.48 points, EOD 2,606.31
CAC 40 (CAC40) gain 6.47 points, EOD 3,910.01
FTSE100 (UKX100) shed 4.42, EOD 5,602.30
NIKKEI 225 (NIK/O) shed 17.39 points, EOD 10,567.65

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 1,726, declined stock prices 1,373, unchanged stock prices 105, stock prices hitting new highs 428 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: EJ shed 0.30, HOD 21.09, LOD 19.74, EOD 20.43; POT shed 0.51, HOD 118.98, LOD 116.80, EOD 117.40; CME shed 4.99, HOD 311.00, LOD 306.22, EOD 308.14; AIG gain 3.67, HOD 34.80, LOD 28.08, EOD 32.77; MA gain 0.87, HOD 251.89, LOD 244.66, EOD 246.48; WX shed 0.01, HOD 16.14, LOD 14.76, EOD 15.80.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,507, declined stock prices 1,198, unchanged stock prices 126, stock prices hitting new highs 211 and stock prices hitting new lows 8. 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 shed 2.42, HOD 107.28, LOD 104.83, EOD 106.22; AAPL gain 3.94, HOD 225.00, LOD 217.89, EOD 223.02; EXEL shed 0.50, HOD 6.86, LOD 6.22, EOD 6.31; BIDU gain 4.77, HOD 544.33, LOD 533.35, EOD 539.10; FRPT gain 0.77, HOD 6.44, LOD 5.81, EOD 6.25; CASY shed 1.43, HOD 30.68, LOD 29.60, EOD 30.07; TIVO shed 0.38, HOD 17.58, LOD 15.89, EOD 16.70.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 259, declined stock prices 224, unchanged stock prices 41, stock prices hitting new highs 26 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) Mar 10: EOD 1139.75; Change 2.75
E-mini NASDAQ-100 (NQ) Mar 10: EOD 1,901.00; Change 12.75
E-mini DOW $5 (YM) Mar 10: EOD 10,557; Change 19
E-mini S&P MidCap 400 (MF) Mar 10: EOD 772.00; Change 1.20
Nikkei 225 (Yen) Mar 10: EOD 10,580; Change -40

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7355 U.S. Dollars 1.3597
Japanese Yen 89.9700 to U.S. Dollars 0.0111
British Pound 0.6669 to U.S. Dollars 1.4994
Canadian Dollar 1.0258 to U.S. Dollars 0.9748
Swiss Franc 1.0753 to U.S. Dollars 0.9300

COMMODITY MARKETS:

Energy Sector - Nymex:
Light Crude (April 10) shed $0.61, EOD $81.26 per barrel ($US per barrel)
Heating Oil (April 10) shed $0.02, EOD $2.09 a gallon ($US per gallon)
Natural Gas (April 10) shed $0.02, EOD $4.51 per million BTU ($US per mmbtu.)
Unleaded Gas (April 10) shed $0.03, EOD $2.26 gallon ($US per gallon)

Metals Markets - Comex:
Gold (April 10) shed $2.20, EOD $1,121.80 ($US per Troy ounce)
Silver (May 10) gain $0.06, EOD $17.33 ($US per Troy ounce)
Platinum (April 10) shed $11.00, EOD $1,589.10 ($US per Troy ounce)
Copper (May 10) unchanged $0.00, EOD $3.41 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (April 10) shed $0.40, EOD $72.40
Pork Bellies (May 10) gain $0.78, EOD $92.80
Live Cattle (April 10) gain $0.20, EOD $94.40
Feeder Cattle (April 10) gain $0.03, EOD $106.03

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (May 10) shed $6.00, EOD $369.00
Soybeans (May 10) unchanged, EOD $947.50

BOND MARKET:
2 year EOD 100, change 2/32, Yield 0.87, Yield change -0.02
5 year EOD 100 6/32, change 6/32, Yield 2.33 Yield change -0.03
10 year EOD 99 12/32, change 2/32, Yield 3.70 Yield change 0.00                    
30 year EOD 99 6/32, change 7/32, Yield 4.67, change -0.01