NewswireToday - /newswire/ -
Somerset, PA, United States, 2006/12/08 - Written for day traders, active traders and investors. A review of the market activity for the day, economic data plus, world news.
Can we say super-choppy? Today’s session was pure and simply that, super-choppy with no sure fire direction in site. Trading ranges were generally tight through out the session with moderate volume creating a chant from both investors and day traders, TGIF! At the close, here is how the major indices ended for the day: the DOW (Dow Jones Industrial Average moved higher by 29.08 points to close at 12307.49; the NYSE (New York Stock Exchange) gained a mere 0.21 on the day to close at 9042.19; the NASDAQ gained 9.67 points to close at 2437.36; the S&P 500 (Standard & Poor’s 500 Index) moved higher by 2.55 points to end at 1409.84 and the RUSSELL 2000 gained just 0.27 to close at 792.56. 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 235.51 and the FTSE RAFI 1000 moved higher by 9.88 points to close at 5851.76.
Economic data released for the day:
Employment Situation: A set of labor market indicators provide what is known as the Employment Situation. A measure in percentage of the labor force creates the unemployment rate measurement of the number of unemployed. The number of paid employees working part or full time in businesses across the nation as well as government agencies is the non-farm payroll. The number of hours worked is the average workweek in the non-farm sector. The basic hourly rate is the average hourly earning for major industries as indicated in non-farm payrolls. U.S. October Payrolls revised to an increase by 79K from an increase by 92K; U.S. October Unemployment left unrevised at 4.4%; U.S. November Overall Workweek 0.0 hour to 33.9 hours; U.S. November Manufacturing Payrolls fell by 15K and Service Producing rose by 172K; November Average Hourly Earnings rose by $0.03 to $16.94; November Unemployment Rate 4.5% compared to consensus of 4.5% and November Non-farm Payrolls rose by 132K compared to consensus of an increase by 110K.
Consumer Sentiment: 500 households are surveyed by The University of Michigan’s Consumer Survey Center, on their financial conditions and attitudes about the economy. The strength of consumer spending is directly related to consumer sentiment.
On the commodities markets, the trend was mixed across the board again today: Light crude moved lower by $0.46 to close at $62.03 a barrel; Heating Oil closed lower by $0.02 to end the day at $1.76 a gallon; Natural Gas moved lower by $0.06 to end the day at $7.68 per million BTU and Unleaded Gas closed higher by $0.01 to end the day at $1.62 a gallon.
Metals ended the session mixed across the board again today: Gold moved lower by $6.00 to close at $631.00 an ounce; Silver closed lower by $0.14 at $13.90 an ounce; Platinum moved much lower by $17.10 to close at $1,107.80 an ounce and Copper ended the day higher by $0.01 to close at $3.11 per pound.
On the Livestock and Meat markets, the trend was mostly higher across the board today: Lean Hogs closed with no change at 64.28; Pork Bellies closed higher by 0.15 to end the day at 91.05; Live Cattle closed higher by 0.43 to end the day at 89.73 and Feeder Cattle ended the day higher by 0.58 to close at 100.43.
Other Commodities: Corn moved lower by 4.00 today to close at 368.50 and Soybeans moved lower by 6.00 to close at 656.00.
Bonds were lower across the board today: 2 year Bond closed down 6/32 at 99 29/32; 5 year bond moved lower by 11/32 to close at 99 11/32; 10 year bond closed lower by 17/32 at 100 19/32 and the 30 year bond closed lower by 17/32 at 97 27/32.
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 3,286,909. Open Interest for Futures moved lower by 5,736 to close at 8,860,801 and the Open Interest for Options moved higher by 119,077 to close at 6,372,008 for a total Open Interest of 15,232,809 for a total gain on the day by 185,341. The mini Dow ended the session with a gain of 22 to close at 12392. The total Dow Exchange Volume for the day came in at 163,253 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) gained 7.49 points on the day to close at $546.14; Rio Tinto plc (RTP) fell 3.74 points on the day to close at $215.41; Greif Incorporated (GEF) climbed higher again today by 4.68 points to close at $112.61; Catalina Marketing Corporation (POS) gained 4.88 points today to end at $29.11 and Intercontinental Exchange Incorporated (ICE) gained 3.26 points to close at $108.10.
On the NASDAQ today, advancers came in at 1,546; decliners totaled 1,506; unchanged came in at 168; new highs came in at 98 and new lows came in at 23. Gainers and losers for the day on the NASDAQ: Central Garden & Pet Company (CENT) fell 4.76 points to end the day at $48.13; Heelys Incorporated (HLYS) gained 11.60 on its opening debut to close at $32.60; Allegiant Travel Company (ALGT) tacked on 7.10 points on its opening debut to close at $24.80 and Capital Southwest Corporation (CSWC) fell sharply by 19.92 points to end at $132.99.
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