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Market Commentary for October 31, 2006 from Millennium-Traders.com - Written for day traders, active traders and investors. A review of the market activity for the day, economic data plus, world news
Market Commentary for October 31, 2006 from Millennium-Traders.com

 

PRZOOM - /newswire/ - Somerset, PA, United States, 2006/10/31 - Written for day traders, active traders and investors. A review of the market activity for the day, economic data plus, world news.

   
 
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The trading session today was simply choppy and sloppy. Trading ranges remained fairly tight with light to moderate trading volume on this the last day of October. At the end of the session, here is how the major indices ended for the day: the DOW (Dow Jones Industrial Average) struggled through out the day to see the light of positive territory to close the session down 5.77 points at 12080.73; the NYSE (New York Stock Exchange) succeeded in tacking on a gain of 7.98 points to close at 8774.76 for the day; the NASDAQ fought off the Bears for a gain on the day of 2.94 points to close at 2366.71; the S&P 500 (Standard & Poor’s 500 Index) squeaked through the day with a gain of 0.01 points to close at 1377.94 and the RUSSELL 2000 fell by 3.52 points to close at 766.84. The FTSE All-World Index ex-US (top Large/Mid Cap aggregate from over 2,700 stocks from the FTSE Global Equity Index Series (GEIS) which covers 90% of the worlds investable market capitalization) moved higher by 0.64 to close at 227.85 and the FTSE RAFI 1000 moved lower by 2.19 points on the day to close at 5723.81.

As we put the month of October behind us, we can proudly say that the Dow Jones Industrials, Standard & Poor’s 500 Index and the NASDAQ all had their best monthly performance of the year, so far.

Economic data released for the day:

ICSC-UBS Store Sales: Weekly measure of comparable store sales at major retail chains which is related to the general merchandise portion of retail sales, as reported by the International Council of Shopping Centers. This date accounts for approximately 10% of total retail sales.

Employment Cost Index: Broadest measure of labor cost, the ECI is a measure of total employee compensation costs including wages, salaries and benefits. U.S. 3rd quarter employment cost index rose by 3.3% from a year ago; 3rd quarter ECI rose fastest since June 2004 and 3rd quarter ECE rose 1.0% compared to consensus of a rise by 0.9%.

Redbook: General merchandise portion of retail sales covering only approximately 10% of total retail sales, this data is a weekly measure of sales at department stores, chain stores and discounters. U.S. retail sales rose by 1.3% in October compared to September.

Consumer Confidence: A compilation by the Conference Board of a survey of five thousand consumer attitudes, across the country, on present economic conditions and expectations of future conditions. October Confidence came in at 105.4 compared to September reading of 105.9; October present situation index came in at 124.7 versus September 128.3 and October expectations index came in at 92.6 compared to September reading of 91.0.

NAPM-Chicago: A compilation by The National Association of Purchasing Management of a survey and composite diffusion index of business conditions in the Chicago area. The survey includes both manufacturing and non-manufacturing firms. This data is considered a leading indicator of the ISM Manufacturing Index. U.S. Chicago Purchasing Management for October employment index came in at 57.0 compared to 50.8 in September; October supplier deliveries came in at 54.1 compared to September reading of 56.8; October prices paid index came in at 62.5 versus September index of 69.8 and October index adjustment came in at 53.5 compared to Sept reading of 62.1.

On the commodities markets, the trend was mixed across the board today: Light crude rose by $0.37 to close at $58.73 a barrel; Brent Crude ended the day on Monday lower by $2.40 at $58.68 a barrel; Heating Oil closed with higher by $0.01 at $1.67 a gallon; Natural Gas ended the day higher by $0.15 at $7.94 per million BTU and Unleaded Gas fell by $0.03 to close at $1.43 a gallon.

Metals ended the session mixed today: Gold fell by $0.60 to close at $606.80 an ounce; Silver moved higher by $0.02 to close at $12.27 an ounce; Platinum fell by $6.70 to close at $1,086.50 an ounce and Copper ended the day with a loss of $0.01 to close at $3.35 per pound.

On the Livestock and Meat markets, the trend was mixed again on the session: Lean Hogs moved lower by 0.30 to close at 64.95; Pork Bellies closed higher by 0.15 to end the day at 93.73; Live Cattle shed 0.85 to end the day at 87.83 and Feeder Cattle ended higher by 0.55 to close at 101.50.

Bonds moved higher across the board today: 2 year Bond closed higher by 3/32 at 100 10/32; 5 year bond closed higher by 10/32 at 100 8/32; 10 year bond moved higher by 17/32 to end the day at 102 17/32 and the 30 year bond closed higher by 1 at 96 17/32.

The end of day results for the CBOT (Chicago Board of Trade) which is comprised of the total Exchange Volume for Futures and Options (EVFO) including Electronic, Open Auction and Cash Exchange ended the day at 2,415,398 Open Interest for Futures rose by 55,475 to close at 8,819,079 and the Open Interest for Options moved higher by 70,004 to close at 6,977,900 for a total Open Interest of 15,796,979 for a total gain on the day by 125,479. The mini Dow ended the session with a loss of 10 to close at 12112. The total Dow Exchange Volume for the day came in at 98,708 which are comprised of Electronic, Open Auction and Cash Exchange. Traders should review workshops available at the CBOT (Chicago Board of Trade) Educational in-person seminars schedules available on CBOT (Chicago Board of Trade) website.

New York Stock Exchange movers for the day: Rio Tinto plc (RTP) posted a nice gain of 4.53 points for a 2.09% gain on the day; General Cable Corporation (BGC) fell sharply by 4 points for a loss on the day of 9.62%; Technitrol Incorporated (TNL) shed 5.11 points for a loss on the day of 16.85%; WMS Industries (WMS) moved higher by 4.28 points for a gain on the day by 13.78%; Trammell Crow Company (TCC) tacked on 9.65 points for a gain on the day of 24.68% and Oshkosh Truck Corporation (OSK) fell by 9.33% for a loss on the day of 4.65 points.

On the NASDAQ today, advancers came in at 1,446; decliners totaled 1,604; unchanged came in at 180; new highs came in at 136 and new lows came in at 32.

Gainers and losers for the day on the NASDAQ: Sirna Therapeutics Incorporated (RNAI) rallied higher by 6.18 points for a whopping gain on the day of 95.81%; Lumera Corporation (LMRA) climbed by 2.39 points for a gain of 37.64% on the session; TB Wood’s Corporation (TBWC) tacked on 2.84 points for a gain on the day of 23.65%; Intevac Incorporated (IVAC) moved higher by 22.80% for a gain of 3.84 points on the day and NovAtel Incorporated (NGPS) fell sharply by 7.65 points for a loss on the day of 17.02%.

One-on-One Training sessions available for Stocks or Futures & Commodities day traders. Three hours of personalized training focused on what you the trader wish to discuss. Stock or Futures Chart Settings ($50.00 value) included with each One-on-One Training Session.

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Market Commentary for October 31, 2006 from Millennium-Traders.com

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