We saw an improvement in trading volume but, trading ranges were not much improved from the shortened trading session on Tuesday. The markets were mixed through most of the trading day as well as, a mixed close for the major indices. At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) posted a loss of 11.46 points to end the session at 13,565.84; the NYSE (New York Stock Exchange) posted a loss of 6.37 points to end at 10,026.24; the NASDAQ posted a gain of 11.70 points for a close at 2,656.65; the S&P 500 moved higher by 0.53 points to end at 1,525.40 and the RUSSELL 2000 moved higher by 1.93 points to close at 850.13. 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 0.46 to close at 264.46 and the FTSE RAFI 1000 posted a loss of 6.58 points to close at 6,407.80.
BOE Announcement: Bank of England Monetary Policy Committee which consists of nine members meets for two days each month, during the first week of the month to determine the direction of monetary policy, in the near-term. Basis point change by 25 for level of 5.75%.
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.
Data released today: U.S. MBA Market Index Rises 0.1% to 619.4 from 618.6; U.S. MBA Purchase Index Rises 2% to 437.3 from 428.9 and U.S. MBA Refinancing Index Falls 2.6% to 1687.2 from 1731.6.
ECB Announcement: European Central Bank Governing Council decides on monetary policy. No change in basis points which remain at 4.0%.
ADP Employment: This report is a national employment report computed from a subset of ADP records that cover roughly 225,000 business establishments and approximately 14 million employees. Macroeconomic Advisors was contracted by ADP to compute a monthly report to assist in predicting monthly non-farm payrolls from the Bureau of Labor Statistics employment situation covering private payrolls. ADP-Macroeconomic Advisers see June Payrolls increase by 150,000.
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. For week of June 23rd, U.S. Continuing Claims rose by 84K to 2,569,000 and U.S. Jobless Claims rose by 2K to 318K for week of June 30th compared to survey of an increase by 2K.
ISM Non-Manufacturing Survey: Compiled from approximately 400 non-manufacturing firms from 60 sectors across the United States. Included in the survey are retail trade, construction, agriculture, mining, transportation, wholesale trade and communications by the Institute of Supply Management. Data released today: U.S. ISM June Non-Manufacturing Business Index came in at a reading of 60.7; U.S. ISM June Non-Manufacturing Business Index came in at a reading of 60.7 versus May reading at 59.7; U.S. ISM June Non-Manufacturing Business Index was expected to come in at a reading of 57.5; U.S. ISM June Non-Manufacturing Employment Index came in at a reading of 55.0 versus May reading at 54.9; U.S. ISM June Non-Manufacturing Prices Index came in at a reading of 65.5 versus May reading at 66.4; U.S. ISM June Non-Manufacturing New Orders Index came in at a reading of 56.9 versus May reading at 57.4 and U.S. ISM: June Index Highest Since April 2006.
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 the following data today: U.S. Refineries ran at 90.0% capacity compared to expectations of up 1.1 Pt. at 90.5%; U.S. Crude Oil Stockpiles rose by 1.175 Million Barrels in the week compared to expectations of a drop by 500,000 Barrels and U.S. Gasoline Stockpiles rose by 1.8 Million Barrels in the week compared to expectations of an increase by 700,000 Barrels.
The trend was mostly higher across the board again today for the Energy Sector: Light crude moved higher by $0.40 today to close at $71.81 a barrel; Heating Oil ended the session higher by $0.02 at $2.09 a gallon; Natural Gas moved lower by $0.13 today to close at $6.73 per million BTU and Unleaded Gas moved higher by $0.02 again today on the session to close at $2.28 a gallon.
Metals Market ended the session mixed across the board today: Gold moved lower today for a loss of $4.80 to close at $650.60 an ounce; Silver closed lower today by $0.11 at $12.58 an ounce; Platinum moved nicely higher today for a gain of $9.60 to close at $1,303.80 an ounce and Copper moved higher by $0.05 today to close at $3.59 per pound.
On the Livestock and Meat Markets, the trend was higher across the board today: Lean Hogs ended the day higher by 0.40 to close at 70.60; Pork Bellies ended the day higher by 3.00 to close 90.18; Live Cattle moved higher by 0.73 to close at 90.70 and Feeder Cattle ended the day higher by 0.63 at 112.18.
Other Commodities: Corn moved higher today with a gain of 4.50 points for a close at 342.50 and Soybeans moved higher today to post gain of 4.25 points to end the session at 886.50.
The e-mini Dow ended the session today at 13,647 with a loss of 18 points on the trading session. The total Dow Exchange Volume for the day came in at 56,014 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 lower across the board again today: 2 year bond closed lower by 5/32 at 99 26/32; 5 year bond closed lower by 16/32 at 99 7/32; 10 year bond closed lower by 23/32 at 95 2/32 and the 30 year bond closed lower by 1 10/32 at 92 24/32.
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 2,610,459. Open Interest for Futures moved lower by 99,708 points to close at 9,681,930; the Open Interest for Options moved higher by 108,098 points to close at 8,035,108 and the Open Interest for OTC closed lower today by 1,537 points at 5,600 for a total Open Interest of 17,722,638 for a total gain on the day by 6,853 points.
On the NYSE today, advancers came in at 1,243; decliners totaled 1,480; unchanged came in at 98; new highs came in at 232 and new lows came in at 43. Gainers and losers for the day on the NYSE: Chicago Mercantile Exchange Holdings (CME) rallied higher on the Big Board again today to post a substantial gain with a low of $539.35, a high of $ 555.69, to tack on 16.34 points for an end of trading day price of its high for the day at $555.69; Wimm-Bill-Dann Foods OJSC (WBD) began to shed some of its recent gains with a high on the session of $110.82, a low of $102.53 to give up 9.34 points to close the session at $102.84; Universal Compression Holdings Incorporated (UCO) moved nicely higher on the trading day with a gain of 6.60 points for a closing price on the trading day of $81.73; Fairfax Financial Holdings Limited (FFH) posted a nice gain on the trading day with a low of $197.63, a high of $209.54 for a gain of 3.78 points to end the day at $197.75 and Hilton Hotels Corporation (HLT) bolted higher on the session to post a whopping gain of 25.91% with an increase by 9.34 points to close the session at $45.39.