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Somerset, PA, United States, 2006/11/27 - Daily Market Commentary for November 27, 2006. Written for day traders, active traders and investors. A review of the market activity for the day, economic data plus, world news.
For the first day after the extended holiday weekend for many, day traders found solace in increased trading volume and improved trading ranges as it appears that profit taking was in fact, an order for the day. It was clear that the Bears had control of the situation, through out the session amidst a strong sea of nothing but red. At the closing bell, here is how the major indices ended the day: the DOW (Dow Jones Industrial Average) fell sharply by 158.46 points to close at 12121.71 on the day; the NYSE (New York Stock Exchange) posted a triple digit loss, giving up 112.84 points to close at 8820.59; the NASDAQ fell 54.34 points to end the session at 2405.92;
the S&P 500 (Standard & Poor’s 500 Index) shed 5.14 points to close at 1400.95 on the day and the RUSSELL 2000 gave up 20.18 points to close at 772.10 on the trading session.
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 lower by 2.64 to close at 230.48 and the FTSE RAFI 1000 moved lower by 79.89 points to close at 5732.67.
Economic data released for the day: not available.
Dallas Fed November Manufacturing Production Index came in at 8.5 versus October reading of 8.4 and November Business Activity fell by 1.7 versus October’s loss of 1.7.
Chicago Fed Midwest Manufacturing was lower by 0.4% in October versus September; Chicago Fed Index came in with a 1.4% slide in October Auto Industrial Output and Chicago Fed Midwest Manufacturing October Index was higher by 2.4% versus a year ago.
On the commodities markets, the trend was higher across the board today: Light crude moved higher by $1.08 today to close at $60.32 a barrel; Brent Crude remained at $59.46 a barrel; Heating Oil closed higher by $0.04 at $1.76 a gallon; Natural Gas ended the day higher by $0.24 to end the day at $8.29 per million BTU and Unleaded Gas closed with no change at $1.59 a gallon.
Metals ended the session mixed across the board again today: Gold moved nicely higher by $11.70 to close at $647.10 an ounce; Silver closed higher by $0.46 at $13.69 an ounce; Platinum fell $6.60 to close at $1,147.40 an ounce and Copper ended the day higher by $0.08 to close at $3.22 per pound.
On the Livestock and Meat markets, the trend was lower across the board today: Lean Hogs moved lower by 1.18 to close at 65.75; Pork Bellies closed lower by 1.18 to end the day at 90.40; Live Cattle moved lower by 0.73 to end the day at 89.63 and Feeder Cattle ended the day lower by 0.88 to close at 97.63.
Other Commodities: Corn moved higher by 2.25 today to close at 388.25 and Soybeans moved higher by 3.75 to close at 688.00.
Bonds were decently higher across the board again today: 2 year Bond closed with a gain of 3/32 at 100 8/32; 5 year bond moved higher by 3/32 to close at 100 13/32; 10 year bond moved higher by 5/32 to end the day at 100 23/32 and the 30 year bond closed higher by 10/32 at 98 10/32.
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 1,748,544. Open Interest for Futures climbed higher by 63,652 to close at 9,085,344 and the Open Interest for Options moved higher by 81,822 to close at 5,154,165 for a total Open Interest of 14,239,509 for a total gain on the day by 145,474. The mini Dow ended the session with a substantial loss of 164 to close at 12134. The total Dow Exchange Volume for the day came in at 107,726 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) plummeted 20.47 points to close at $532.77; MasterCard Incorporated (MA) fell sharply by 6.49 points to end the day at $98.99; The Bear Stearns Companies Incorporated (BSC) fell sharply by 7.60 points to end the day at $151; Goldman Sachs Group Incorporated (GS) gave up 8.49 points to close at $193.11 and NYMEX Holdings (NMX) gave up 6.70 points to end the day at $125.51.
On the NASDAQ today, advancers came in at 596; decliners totaled 2,509; unchanged came in at 110; new highs came in at 75 and new lows came in at 37. Gainers and losers for the day on the NASDAQ: Sears Holdings Corporation (SHLD) fell 4.96 points to end the day at $171.49; Pointer Telocation Limited (PNTR) moved higher by 4.54 points to close at $19.70 on the session; ADVANTA Corporation (ADVNB) moved higher by 4.29 points to end at $46.18 on the day and Google Incorporated (GOOG) plummeted by 20.25 points to end at $484.75 on the day.
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