The markets were taunted by both the Bears and the Bulls through out the trading session, wreaking havoc on the nerves of day traders and investors. At the end of the trading day, the Bulls held the horns moving the DOW into record territory. At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) moved higher by 42.26 points to end the session at 13,351.33; the NYSE (New York Stock Exchange) posted a gain on the trading session of 39.87 points to end at 9,827.90; the NASDAQ posted a gain of 4.59 points today for a close at 2,576.34; the S&P 500 moved higher by 2.06 points to end at 1,511.54 and the RUSSELL 2000 moved higher by 2.13 points to close at 834.00. 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 0.55 to close at 258.37 and the FTSE RAFI 1000 closed higher by 18.97 at 6,336.84.
Economic data released for the day:
MBA Purchase Applications: Compilation from the Mortgage Bankers’ Association of various mortgage loan indexes. This data is the leading indicator for single-family home sales as well as, housing construction. Purchase Index Level came in at 438.3.
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 released today: U.S. Refineries ran at 89.0% capacity, was seen up by 0.97 Pt. at 89.2%; U.S. Gasoline Stockpiles rise to break 12 straight weeks decline; U.S. Gasoline Stockpiles rose by 400,000 Barrels in the week, was anticipated at an increase by 370,000 Barrels and U.S. Crude Oil Stockpiles rose by 5.6 Million Barrels in the week, was anticipated at an increase by 850,000 Barrels.
FOMC Announcement: Fed leaves rates at 5.25%; still sees inflation risk; voted unanimously for Unchanged Federal Funds Rate; high "resource utilization" poses inflation risk; inflation pressures likely to moderate over time; core inflation remains somewhat elevated; economy likely to continue to expand at a moderate pace; economic growth slowed in first part of year; housing market adjustment is "ongoing"; any future rate changes would depend on data, outlook and predominant risk is inflation won't fall as expected.
The trend was mixed across the board today for the Energy Sector: Light crude moved lower by $0.71 today to close at $61.55 a barrel; Heating Oil moved lower by $0.01 today to close at $1.82 a gallon; Natural Gas closed higher by $0.08 at $7.88 per million BTU and Unleaded Gas closed higher by $0.03 at $2.23 a gallon.
Metals Market ended the session lower across the board today: Gold moved lower by $4.90 to close at $682.50 an ounce; Silver moved lower by $0.13 to close at $13.47 an ounce; Platinum moved lower today by $3.70 to close at $1,339.50 an ounce and Copper ended the day lower by $0.04 again today to end at $3.68 per pound.
On the Livestock and Meat Markets, the trend was mixed across the board today: Lean Hogs moved lower today by 0.13 today to close at 74.38; Pork Bellies ended the day lower by 0.53 to close at 102.88; Live Cattle moved higher by 0.08 to end the day at 92.40 and Feeder Cattle ended the day higher by 0.73 to close at 112.18.
Other Commodities: Corn moved higher today with a gain of 2.75 points to end at 366.25 and Soybeans posted a gain today of 8.00 to close at 747.50.
The e-mini Dow ended the session higher by 49 points to close at 13395. The total Dow Exchange Volume for the day came in at 107,440 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.
Bonds were mostly lower across the board again today: 2 year bond closed lower by 3/32 at 99 18/32; 5 year bond closed lower by 6/32 at 99 19/32; 10 year bond closed lower by 14/32 at 99 22/32 and the 30 year bond closed lower by 21/32 at 99 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 2,717,789; Open Interest for Futures moved higher by 52,768 points to close at 10,009,564; the Open Interest for Options moved higher by 38,248 points to close at 7,164,352 and the Open Interest for OTC closed with no change at 4,745 for a total Open Interest of 17,178,661 for a total gain on the day by 91,016.
On the NYSE today, advancers came in at 1,304; decliners totaled 1,875; unchanged came in at 181; new highs came in at 206 and new lows came in at 21. New York Stock Exchange movers for the day today: Rio Tinto plc (RTP) rallied nicely higher on the Big Board for a whopping gain of 11.95% for a gain of 31.62 points to close the trading session at $296.27; RTI International Metals (RTI) bolted higher on the trading session to tack on a gain of 4.01 points to close at $88.08; Mohawk Industries (MHK) moved higher by 3.29 points to end the trading day at $96.03; Perini Corporation (PCR) posted a nice gain of 4.50 points to end at $50.42 and Trio-Tech International (TRT) rallied higher on the trading day for a gain of 32.04% to tack on 5.21 points for a closing price at $21.47.
On the NASDAQ today, advanced totaled 1,255 decliners totaled 1,783; unchanged came in at 149, new highs came in at 118 and new lows came in at 50. Gainers and losers for the day on the NASDAQ: Dendreon Corporation (DNDN) plummeted lower on the trading day for a hefty trading loss of 64.88% to shed 11.51 points to close at a mere $6.26; Foster Wheels Limited (FWLT) rallied higher by a whopping 20.27% to climb by 14.83 points to close at $87.98; Macrovision Corporation (MVSN) tacked on a nice gain of 16.37% to move higher by 3.93 points for a closing price at $27.94; Priceline.com Incorporated (PCLN) gave up 2.39 points to close at $61.65 and Research in Motion Limited (RIMM) made a nice rally to gain 7.93 points on the day to end the trading day at $153.69.
New visitors to our site can utilize a One week Trial to our Day Trading Rooms for first time users of our Day Trading Rooms. Individuals may subscribe today for a One Week Free Trial in order to participate in the live trading action for Stocks, Futures, Commodities and Forex Trading with other day traders.
Personalized One-on-One Training sessions available from our team of experts. Utilize our professional online trading education for day traders who day trade Stocks and Futures.
For swing traders and short term investors we offer our Swing Trades and Morning Watch List, on a subscription basis. So, if you have no time to Day Trade, review these two services for more details. View details of the Performance of our Weekly Swing Trades and our Morning Watch List services. Multi-month discounts available.
Monitor and view the performance of our Stocks, Futures and Forex Trading Rooms from our Performance Index. Read how our Trading Rooms operate by accessing our Introduction to Our Day Trading Rooms page.
If there is a subject or issue you would like to see covered on our Daily Commentary, send an email via our Contact Us page with details of your request to be reviewed by our editorial staff.