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US stock market daily report (August 30, 2010, Monday)

Contributed by Millennium Traders

By Millennium Traders

Today's stock market news wasn't the news investors were looking for to continue the rallies of Friday. Investors remained cautious in the first trading day of the week; stocks were headed lower after a positive report on consumer spending. This morning the Commerce Department reported that consumer spending rose 0.4% in July, up from the 0.1% it rose in June. Analysts' were looking for spending to rise by 0.2%, so were pleasantly surprised. Personal incomes rose in July; there was a rise by 0.2%, unchanged from the previous month. Analysts' were expecting to see spending rise by 0.3%. Analysts' say without a steady rise in personal income that the rise in consumer spending will only be temporarily. Investors are still concerned that the recovery will slow down if more jobs aren't created and spending doesn't steadily rise. Overall, consumer spending accounts for two-thirds of the economy. Japan caused a stir in the markets this morning when the Central Bank of Japan said they were going to keep key interest rates at 0.1%. They also announced a new loan program that financial institutions; financial companies will be able to borrow up to $30 trillion yen, or $355 billion if needed. With the news from Japan, U.S. treasuries yields plummeted today as investors bought up the "safe havens". Late Friday, the yield on the 10-year note was at 2.64%, today the 10- year note was yielding 2.57%. Analysts' believe we see an even higher demand for U.S. treasuries as they expect this week's economic reports won't be quite up to par. Investors will continue to watch economic data closely, this week's report from the Labor department is highly anticipated and the market will be affected by that report, good or bad. Stocks continued to fall in the afternoon half of the session; the Dow was down almost 100 points at one point. The index recuperated some losses in the later afternoon but couldn't continue in that direction. With just an hour left in the day, the Dow was in the red over 80 points. Commodity prices were mixed today, after posting mostly gains in the past two sessions. The dollar was on the rise against the euro and the pound, but after two session's of recovering, the greenback fell versus the yen.

Economic data released today:

Core PCE Price Index (MoM):
July PCE Price Index rose 0.2% Rate on Month; rose 1.5% on Year; July PCE Core Price Index rose 0.1% Rate on Month; rose 1.4% on Year.

Personal Income/Spending (MoM):
June Spending Unrevised at Unchanged; June Personal Income Unrevised at Unchanged; U.S. Personal Income rose 0.2% in July; Compared to Consensus of an increase by 0.3%; U.S. Personal Spending rose 0.4% in July; Compared to Consensus of an increase by 0.4%.

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) shed 138.12 points, EOD 10,012.53
NYSE (New York Stock Exchange) shed 97.48, EOD 6,697.43
National Association of Securities Dealers Automated Quotations (NASDAQ) shed 32.17 points, EOD 2,121.46
S&P 500 (SPX) shed 15.14 points, EOD 1,049.45
BEL 20 (BEL20) shed 6.62 points, EOD 2,460.93
CAC 40 (CAC40) shed 20.43 points, EOD 3,487.01
FTSE100 (UKX100) unchanged, EOD 5,201.56
NIKKEI 225 (NIK/O) triple digit gain 158.2 points, EOD 9,149.26

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 702, declined stock prices 2,283, unchanged stock prices 73, stock prices hitting new highs 116 and stock prices hitting new lows 33. 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: GS shed 2.74, HOD 140.11, LOD 136.65, EOD 136.66; CRM shed 2.31, HOD 112.12, LOD 109.07, EOD 109.17; CME shed 7.74, HOD 257.79, LOD 248.65, EOD 249.00.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 560, declined stock prices 2,120, unchanged stock prices 117, stock prices hitting new highs 24 and stock prices hitting new lows 82. 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: GENZ gain 2.29, HOD 70.47, LOD 68.19, EOD 69.91; DGIT shed 9.43, HOD 18.52, LOD 15.02, EOD 15.11; AAPL gain 0.88, HOD 245.75, LOD 240.68, EOD 242.50; BIDU shed 2.14, HOD 80.60, LOD 77.19, EOD 77.23; PCLN shed 8.00, HOD 297.62, LOD 289.44, EOD 289.68; WINN gain 0.05, HOD 8.23, LOD 7.96, EOD 8.02.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 178, declined stock prices 286, unchanged stock prices 38, stock prices hitting new highs 22 and stock prices hitting new lows 12.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Mar 10: EOD 1047.50; Change -16.25
E-mini NASDAQ-100 (NQ) Mar 10: EOD 1,772.25; Change -17.00
E-mini DOW $5 (YM) Mar 10: EOD 9,005; Change -145
Nikkei 225 (Yen) Mar 10: EOD 9,010; Change -75

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7896 to U.S. Dollars 1.2700
Japanese Yen 84.5750 to U.S. Dollars 0.0118
British Pound 0.6468 to U.S. Dollars 1.5500
Canadian Dollar 1.0586 to U.S. Dollars 0.9434
Swiss Franc 1.0264 to U.S. Dollars 0.9744

COMMODITY MARKETS:

Energy Sector - Nymex:
Light Crude (October 10) shed $0.47, EOD $74.70 per barrel ($US per barrel)
Heating Oil (September 10) shed $0.01, EOD $2.03 a gallon ($US per gallon)
Natural Gas (October 10) gain $0.10, EOD $3.81 per million BTU ($US per mmbtu.)
Unleaded Gas (September 10) shed $0.01 EOD $1.93 gallon ($US per gallon)

Metals Markets - Comex:
Gold (September 10) gain $1.50, EOD $1,237.10 ($US per Troy ounce)
Silver (September 10) shed $0.00, EOD $19.04 ($US per Troy ounce)
Platinum (September 10) shed $3.90, EOD $1,533.10 ($US per Troy ounce)
Copper (September 10) gain $0.05, EOD $3.41 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (October 10) gain $0.27, EOD $75.10
Pork Bellies (February 10) unchanged, EOD $105.25
Live Cattle (August 10) shed $0.80, EOD $97.25
Feeder Cattle (September 10) shed $1.17, EOD $115.10

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (September 10) gain $4.50, EOD $425.50
Soybeans (September 10) gain $4.00, EOD $1,018.00