US stock market daily report (July 29, 2010, Thursday)

Date: 29 July 2010
Contributed by Millennium Traders

By Millennium Traders

Stocks were on the rise today as Exxon reported earnings almost doubled in the second quarter. Exxon Mobil reported second quarter earnings of $7.56 billion, or $1.61 per share; analysts were expecting earnings of $1.46 per share. Revenue was up to $92.5 billion or 24%; the company said profits were up due to higher oil prices. Over earnings season investors use these reports as a way to see how companies are holding up in the tough economy. Markets are controlled a lot by the earnings reports during these couple of weeks. Stocks were rising once Exxon gave their better than expected report, and the Labor Department reported unemployment claims fell this week. It was reported that claims for unemployment benefits fell by 11,000 to 457,000 last week; analysts expected claims to fall to 464,000. Continuing claims rose to 4,565,000 from 4,484,000 last week; analysts expected claims to fall to 4,550,000. Stocks quickly fell once James Bullard, Federal Reserve Bank President of St. Louis gave a warning about deflation, erasing earlier gains. President Bullard said that current policies of the Fed will put the U.S. at a possible risk of extended period of falling wages and falling prices. Stocks started falling mid-morning and didn't seem like they were going to stop, at noon the Dow was down over 70 points. Investors changed the tone of the day with an afternoon rally; stocks recuperated all of the losses from the mid-morning selloff. With less than 45 minutes left in the trading session, the Dow had managed to climb its way back into the positive 12 points. The dollar continued to fall against the euro, as commodity prices continued to rise. At the end of the trading day, gold was unchanged at $1,160.40 and crude oil rose $1.37 to $78.36 per barrel.

Economic data released today:

Initial Jobless Claims:
U.S. July 17 Week Jobless Claims Revised to 468K from 464K; U.S. July 17 Week Continuing Claims rose 81K to 4,565,000; U.S. Jobless Claims fell 11K to 457K in July 24 Week; Compared to Survey of a decrease by 4K.

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) shed 30.72 points, EOD 10,467.16
NYSE (New York Stock Exchange) shed 5.61, EOD 6,994.57
National Association of Securities Dealers Automated Quotations (NASDAQ) shed 12.87 points, EOD 2,251.69
S&P 500 (SPX) shed 4.7 points, EOD 1,101.43
BEL 20 (BEL20) shed 7.18 points, EOD 2,537.90
CAC 40 (CAC40) shed 18.45 points, EOD 3,651.91
FTSE100 (UKX100) shed 5.73 points, EOD 5,313.95
NIKKEI 225 (NIK/O) shed 57.25 points, EOD 9,696.02

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 1,583, declined stock prices 1,480, unchanged stock prices 120, stock prices hitting new highs 156 and stock prices hitting new lows 20. 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 2.32, HOD 289.72, LOD 284.01, EOD 285.83; BG shed 7.68, HOD 48.84, LOD 45.83, EOD 46.29; MA shed 1.72, HOD 211.74, LOD 204.50, EOD 208.37; CVD shed 9.97, HOD 42.44, LOD 38.32, EOD 39.65; CTV shed 4.73, HOD 21.93, LOD 20.77, EOD 21.34.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,276, declined stock prices 1,382, unchanged stock prices 137, stock prices hitting new highs 41 and stock prices hitting new lows 45. 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 shed 2.85, HOD 262.65, LOD 256.10, EOD 258.11; VPRT shed 18.27, HOD 35.65, LOD 30.33, EOD 31.99; CTXS gain 9.34, HOD 57.70, LOD 52.75, EOD 56.67; ISRG shed 2.82, HOD 334.02, LOD 322.28, EOD 327.25; AKAM shed 5.68, HOD 40.90, LOD 38.27, EOD 38.35; ARRS shed 1.88, HOD 10.40, LOD 9.57, EOD 9.61.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 260, declined stock prices 201, unchanged stock prices 37, stock prices hitting new highs 8 and stock prices hitting new lows 5.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Mar 10: EOD 1096.00; Change -6.00
E-mini NASDAQ-100 (NQ) Mar 10: EOD 1,856.75; Change -13.00
E-mini DOW $5 (YM) Mar 10: EOD 10,403; Change -45
E-mini S&P MidCap 400 (MF) Mar 10: EOD 756.10; Change -4.10
Nikkei 225 (Yen) Mar 10: EOD 9,645; Change -35

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7640 to U.S. Dollars 1.3100
Japanese Yen 86.8350 to U.S. Dollars 0.0115
British Pound 0.6401 to U.S. Dollars 1.5600
Canadian Dollar 1.0357 to U.S. Dollars 0.9606
Swiss Franc 1.0408 to U.S. Dollars 0.9457

COMMODITY MARKETS:

Energy Sector - Nymex:
Light Crude (September 10) gain $1.37, EOD $78.36 per barrel ($US per barrel)
Heating Oil (August 10) gain $0.04, EOD $2.04 a gallon ($US per gallon)
Natural Gas (August 10) gain $0.10, EOD $4.83 per million BTU ($US per mmbtu.)
Unleaded Gas (August 10) gain $0.03, EOD $2.10 gallon ($US per gallon)

Metals Markets - Comex:
Gold (July 10) unchanged, EOD $1,160.40 ($US per Troy ounce)
Silver (July 10) unchanged, EOD $17.42 ($US per Troy ounce)
Platinum (July 10) gain $23.90, EOD $1,563.40 ($US per Troy ounce)
Copper (July 10) unchanged, EOD $3.24 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (August 10) gain $1.47, EOD $84.85
Pork Bellies (August 10) unchanged, EOD $119.50
Live Cattle (August 10) shed $0.92, EOD $91.85
Feeder Cattle (August 10) shed $0.80, EOD $113.73

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (September 10) gain $3.00, EOD $379.25
Soybeans (August 10) gain $16.25, EOD $1,026.75

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