NewswireToday - /newswire/ -
Somerset, PA, United States, 2006/11/15 - Written for day traders, active traders and investors. A review of the market activity for the day, economic data plus, world news.
Trading action was higher improved compared to recent days. Trading volume was substantially heavier and trading ranges improved as well. Green territory was the choice for the day and here is how the major indices closed at the end of the session: the DOW (Dow Jones Industrial Average) gained 33.70 points to close at 12251.71; the NYSE (New York Stock Exchange) moved higher by 21.21 points to end the day at 8901.68; the NASDAQ moved higher by 12.09 points to end the day at 2442.75; the S&P 500 (Standard & Poor’s 500 Index) gained 3.35 points to close at 1396.57 and the RUSSELL 2000 tacked on a gain of 6.90 points to close at 791.96. 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 0.81 to close at 231.48 and the FTSE RAFI 1000 moved higher by 12.20 points to close at 5808.20.
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 Level Index reading came in at 412.9.
New York Empire State Index: Monthly survey of manufacturers in New York State conducted by the New York Fed. A questionnaire is sent to approximately 175 manufacturing executives, normally the CEO or the President. This survey includes questions regarding the change of an assortment of indicators from the previous month. Views are expressed by respondents as to their opinion of the potential direction of these indicators over the upcoming six months. This index is seasonally adjusted, since the history is not long enough, using seasonal factors of the Philadelphia Fed. New York Fed's November Manufacturing Index came in at 26.66 versus 22.92; New York Fed November New Orders came in at 22.38 versus 11.75; New York Fed November Employment came in at 24.50 versus 19.39 and New York Fed November Prices Received came in at 16.98 versus 17.50.
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. U.S. Refineries ran at 87.3%, expected to come in at 88.9%; U.S. Distillate Stockpiles fell 3.6 Million Barrels in the week, expected to come in at a drop by 130,000 Million Barrels; U.S. Gasoline Stockpiles fell by 3.7 Million Barrels in the week, expected to come in at a drop by 300,000 Million Barrels and U.S. Crude Oil Stockpiles rose by 1.3 Million Barrels in the week, expected to come in at a rise by 900,000 Million Barrels.
FOMC Minutes: GDP to pick up from 3rd quarter pace in 2007 and 2008; GDP to grow near or slightly below potential; Core Inflation to 'edge down' in 2007, 2008 versus 2nd quarter of 2006; 'Drew Some Comfort' from recent housing data; Core Inflation still 'uncomfortably high'; recent data have allayed some inflation fears; downside economical risks have diminished 'a little'; inflation risks subsiding 'albeit only slightly' and upcoming data will help refine December policy stance.
On the commodities markets, the trend was green across the board today: Light crude rose by $0.48 to close at $58.76 a barrel; Brent Crude ended the day on Tuesday with a gain of $1.18 to close at $62.00 a barrel; Heating Oil closed higher by $0.03 to close at $1.74 a gallon; Natural Gas ended the day higher by $0.14 to end the day at $8.46 per million BTU and Unleaded Gas closed at $1.58 a gallon with a gain of $0.04.
Metals ended the session mixed across the board again today: Gold fell by $1.50 to close at $623.80 an ounce; Silver moved higher by $0.06 to close at $12.95 an ounce; Platinum fell lower by $2.40 to close at $1,170.80 an ounce and Copper ended the day with no change at $3.13 per pound.
On the Livestock and Meat markets, the trend was mixed across the board today: Lean Hogs moved lower by 0.53 to close at 64.15; Pork Bellies closed higher by 0.88 to end the day at 89.65; Live Cattle moved higher by 0.80 to end the day at 89.20 and Feeder Cattle ended the day higher by 1.23 to close at 95.20.
Other Commodities: Corn climbed slightly higher by 1.00 to close at 372.50 and Soybeans moved lower by 7.50 to close at 663.75.
Bonds were lower across the board today: 2 year Bond closed with a loss of 4/32 at 100 3/32; 5 year bond closed lower by 9/32 to close at 99 31/32; 10 year bond moved lower by 13/32 to end the day at 100 1/32 and the 30 year bond closed lower by 20/32 at 96 20/32.
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 3,936,942. Open Interest for Futures rose higher by 85,920 to close at 8,862,182 and the Open Interest for Options moved higher by 78,568 to close at 8,306,196 for a total Open Interest of 17,168,378 for a total gain on the day by 164,488. The mini Dow ended the session with a gain of 29 to close at 12288. The total Dow Exchange Volume for the day came in at 152,479 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 by 18.79 points to close the session at $532.51; U.S. Airways Group Incorporated (LCC) rallied higher by 8.57 points for a close at $59.50; Continental Airlines Incorporated (CAL) moved higher by 4.72 points to end the day at $43.08; and Abercrombie & Fitch (ANF) fell 4.60 points to close the session at $72.01.
On the NASDAQ today, advancers came in at 1,887; decliners totaled 1,162; unchanged came in at 164; new highs came in at 330 and new lows came in at 54. Gainers and losers for the day on the NASDAQ:
e-Future Information Technology Incorporated (EFUT) fell sharply by 13.71 points to end the day at $29.89; Daktronics Incorporated (DAKT) rallied higher by 6.93 points to close at $33.60 on the day; Comverse Technology Incorporated (CMVT) fell by 2.93 points to close at $17.69 on the day; Vanda Pharmaceuticals Incorporated (VNDA) climbed higher by 5.14 points to end the day at $14.90 and National Medical Health Card Systems Incorporated (NMHC) fell 2.65 points to end the day at $9.85.
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