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Somerset, PA, United States, 2006/11/06 - Daily Market Commentary for November 6, 2006. Written for day traders, active traders and investors. A review of the market activity for the day, economic data plus, world news.
The Bulls rushed into the markets today and held the major indices in the green zone, through out the session. Moderate trading volume and fair trading ranges produced results comparable with a Monday session. At the end of the day, here is how the major indices closed the session: the DOW (Dow Jones Industrial Average) proudly closed at 12105.55 for a nice triple digit gain on the day of 119.51; the NYSE (New York Stock Exchange) followed the lead of the DOW with a triple digit gain of its own of 100.56 to close at 8817.32; the NASDAQ succeeded in taking on 35.16 points to end the day at 2365.95; the S&P 500 (Standard & Poor’s 500 Index) moved forward nicely by 15.48 points to end the session at 1379.78 and the RUSSELL 2000 tacked on 10.35 points to close at 763.08.
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 2.18 to close at 229.05 and the FTSE RAFI 1000 moved nicely higher by 63.26 points to close at 5731.89.
Economic data released for the day: none available.
On the commodities markets, the trend was mostly higher across the board today: Light crude rose by $0.88 to close at $60.02 a barrel; Brent Crude ended the day on Friday with a gain of $1.28 to close at $59.15 a barrel; Heating Oil closed higher by $0.04 for the second market session in a row at $1.72 a gallon; Natural Gas ended the day lower by $0.38 at $7.95 per million BTU and Unleaded Gas rose by $0.02 to close at $1.53 a gallon.
Metals ended the session mixed today: Gold moved lower today by $1.30 to close at $627.90 an ounce; Silver moved higher by $0.13 to close at $12.76 an ounce; Platinum plummeted by $12.70 to close at $1,196.70 an ounce and Copper ended the day with a gain of $0.01 to close at $3.34 per pound.
On the Livestock and Meat markets, the trend was mostly lower on the session across the board: Lean Hogs moved higher by 0.35 to close at 64.53; Pork Bellies closed lower by 0.93 to end the day at 90.53; Live Cattle shed 0.35 to end the day lower at 85.55 and Feeder Cattle ended lower again today by 0.80 to close at 96.33.
Bonds moved flat to higher across the board today: 2 year Bond closed with no change at 100 3/32; 5 year bond closed higher by 2/32 at 99 24/32; 10 year bond moved higher by 4/32 to end the day at 101 11/32 and the 30 year bond closed higher by 10/32 at 95 15/32.
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 4,785,750. Open Interest for Futures gained 59,840 to close at 8,799,371 and the Open Interest for Options moved higher by 145,469 to close at 7,596,837 for a total Open Interest of 16,396,208 for a total gain on the day by 205,310. The mini Dow ended the session by rallying higher by 126 to close at 12134. The total Dow Exchange Volume for the day came in at 129,242 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: Chicago Mercantile Exchange Holdings (CME) rallied higher by 10.79 points for a gain on the day of 2.15%; MasterCard Incorporated (MA) had a follow through into higher ground today with a nice gain of 6.79 points for a rise on the day of 7.59%; TXU Corporation (TXU) fell by 7.91% for a loss on the day of 4.94 points; Rio Tinto plc (RTP) rallied higher by 3.99 points for a gain of 1.79% for the day and ElkCorp (ELK) rallied by 6.53 points for a nice gain on the day by 25.93%.
On the NASDAQ today, advancers came in at 2,115; decliners totaled 947; unchanged came in at 135; new highs came in at 127 and new lows came in at 36, same as on Friday. Gainers and losers for the day on the NASDAQ: Adolor Corporation (ADLR) plummeted by 6.25 points for a loss on the day of 44.84%; Kos Pharmaceuticals Incorporated (KOSP) rallied higher by 26.96 points for a whopping gain on the day of 53.84%; Swift Transportation Company Incorporated (SWFT) moved nicely higher by 5.79 points for a gain on the day of 24.07% and Mikron Infrared Incorporated (MIKR) climbed higher by 2.26 points for a gain on the day of 14.77%.
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