PRZOOM - /newswire/ -
Somerset, PA, United States, 2007/01/18 - Written for day traders, active traders and investors. A review of the market activity for the day, economic data plus, world news.
The Bears controlled the markets today with a strong downward draft that held the major indices from even attempting to see the green of the day. At the end of the session here is how the major indices stacked up: the DOW (Dow Jones Industrial Average) shed 9.22 points to close at 12567.93; the NYSE (New York Stock Exchange) shed 20.88 points to end the day at 9125.38; the NASDAQ moved lower by 36.21 points to end at 2443.21; the S&P 500 shed 4.25 points to end at 1426.37 and the RUSSELL 2000 fell by 10.56 points to end at 778.21. 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 0.36 to close at 239.46 and the FTSE RAFI 1000 moved lower by 10.03 points to close at 5947.45.
President of Federal Reserve Bank of Cleveland Sandra Pianalto issued these comments today: risk of house weakness spillover on consumer; sees "more moderate" growth in years ahead; inflation expectations seem stable; Fed may need to act if inflation not tamed; U.S. deficits not sustainable; U.S. deficits can unwind in orderly fashion; U.S. can't become dependent on foreign flows; strong capital inflows due to U.S. rate of return; need "fundamental changes" in entitlement programs and must take all actions with dual mandate "in mind".
Economic data released for the day:
Consumer Price Index: The measure of the average price level of a fixed basket of goods and services purchased by consumers; monthly changes represent the rate of inflation. U.S. December CPI was unrounded at an increase by 0.545% with Core at an increase by 0.193%; U.S. December CPI Ex-Food & Energy rose by 0.2% versus consensus of an increase of 0.2%; U.S. December Consumer Prices rose by 0.5% versus consensus of an increase of 0.5% and U.S. December CPI Energy Prices rose by 4.6% and U.S. December Food Prices was unchanged.
Housing Starts: A monthly measure of initial construction of new homes, single family residential units and multi family units as released by the Commerce Department. A rising trend indicates an increase in demand for home furnishings, appliances and furniture. U.S. December Housing Starts rose by 4.5% to 1.642M versus consensus of a drop by 1.4%; U.S. Real Average Weekly Earnings in December fell by 0.1%; Building Permits rose by 5.5% to a rate in December of 1.596M and November Housing Starts was revised to an increase of 6.4% from an increase by 6.7%.
Jobless Claims: A weekly compilation of new unemployment claims to show the number of individuals who filed for unemployment insurance for the first time. The condition of the labor market is determined by an increase of the number of claims which suggests a deteriorating labor market. U.S. Jobless Claims at lowest level since February 2006; U.S. January 6 Week Continuing Claims rose by 120K to 2,530,000 and U.S. Jobless Claims fell by 8K to 290K during week of January 13th compared to survey of an increase by 16K.
EIA Natural Gas Report: Weekly information provided by the EIA (Energy Information Administration) on natural gas stock piles in underground storage in the United States and three regions of the country. Prices for natural gas products are determined by the level of inventories. Department of Energy reported that U.S. Refineries ran at 87.9% versus expectations of 91.0%; U.S. Gasoline Stockpiles rose by 3.5M barrels in the week compared to expectations of a rise by 2.6M barrels and U.S. Distillate Stockpiles rose by 900,000 barrels in the week compared to expectations of a rise by 1.25M.
EIA Petroleum Status Report: EIA (Energy Information Administration) provides weekly petroleum inventories in the United States whether they are produced here or abroad. Prices for petroleum products are determined by the level of inventories. Department of Energy reported that U.S. Crude Oil Stockpiles rose by 6.8M barrels in the week compared to expectations of a rise by 325,000 and U.S. Gasoline Stockpiles rose by 3.5M barrels in the week compared to expectations of a rise by 2.6M.
Philadelphia Fed Survey: Philadelphia Federal Reserve district releases general conditions index from the business outlook survey which is a diffusion index of manufacturing conditions in the district.
Philadelphia Fed Survey for January Employment came in at 7.9 versus December reading of 7.5; January Price Received came in at 11.6 versus December reading of 8.9; Philly Fed Firms see slight increase in activity; January Price paid came in at 11.9 versus December reading of 19.0; January Business Index Expected at 2.0; January Business Index came in at 8.3 versus December reading of a drop by 2.3; January New Orders came in at 1.3 versus December reading of a drop by 0.9 and Conditions in Region's Manufacture Sector Improved in January.
On the commodities markets, the trend was mostly lower across the board today: Light crude moved lower by $1.76 to close at $50.48 a barrel; Heating Oil closed lower by $0.03 at $1.49 a gallon; Natural Gas moved higher by $0.05 to end the day at $6.36 per million BTU and Unleaded Gas closed lower by $0.02 at $1.39 a gallon.
Metals ended the session mostly lower across the board today: Gold moved lower by $5.20 to close at $628.10 an ounce; Silver closed lower by $0.21 at $12.69 an ounce; Platinum moved much higher again today by $13.90 to close at $1,168.50 an ounce and Copper ended the day lower by $0.08 to close at $2.49 per pound.
On the Livestock and Meat markets, the trend was mixed across the board again today: Lean Hogs closed lower by 0.25 at 65.65; Pork Bellies closed the day higher by 2.58 at 96.00; Live Cattle closed lower by 0.40 to end the day at 93.55 and Feeder Cattle ended the day higher by 0.80 to close at 93.55.
Other Commodities: Corn moved higher yet again today by 4.25 to close at 412.25 and Soybeans moved lower by 5.75 to close at 716.25.
Bonds were higher across the board today: 2 year bond closed higher by 1/32 at 99 23/32; 5 year bond closed higher by 3/32 at 99 14/32; 10 year bond closed higher by 8/32 today to end at 99 and the 30 year bond closed higher by 13/32 at 94 21/32.
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 3,635,189. Open Interest for Futures rose by 43,509 to close at 8,879,239 and the Open Interest for Options moved higher by 184,529 to close at 7,514,632 for a total Open Interest of 16,394,169 for a total gain on the day by 228,192.
The mini Dow ended the session with a loss of 37 to close at 12602. The total Dow Exchange Volume for the day came in at 120,263 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) fell 4.50 points on the day to close at $577.50; CACI International (CAI) plummeted by 7.88 points to end the session at $47.22; NYSE Group Incorporated (NYX) fell by 5.00 points to end at $100.55; American Real Estate Partners, L.P. (ACP) fell sharply by 9.05 points to close at $102.35 and MasterCard International Incorporated (MA) fell sharply by 6.55 points to end at $102.49.
On the NASDAQ today, advancers came in at 1,311; decliners totaled 1,741; unchanged came in at 139; new highs came in at 135 and new lows came in at 29. Gainers and losers for the day on the NASDAQ