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Market Commentary for December 19, 2006 from Millennium-Traders.com - Written for day traders, active traders and investors. A review of the market activity for the day, economic data plus, world news
Market Commentary for December 19, 2006 from Millennium-Traders.com

 

NewswireToday - /newswire/ - Somerset, PA, United States, 2006/12/19 - Written for day traders, active traders and investors. A review of the market activity for the day, economic data plus, world news.

   
 
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Quite a mixed session we had today with the major indices not sure in which direction they would trend in for the session. The morning fall was mainly attributed to the Taiwanese Government attempting to halt the Thai currency rise against the dollar by imposing controls on foreign investment. This move created a plunge in the Thai Stock Market by almost 15%. After the slushy pre-holiday session, here is how the major indices ended the day: the DOW (Dow Jones Industrial Average) moved higher by 30.05 points to end at 12471.32; the NYSE (New York Stock Exchange) gained 34.39 points for a close at 9139.44; the NASDAQ fell by 6.02 points to end at 2429.55; the S&P 500 gained 3.07 points to close at 1425.55 and the RUSSELL 2000 gained a mere 0.08 points to close at 782.10. 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 0.17 to close at 238.02 and the FTSE RAFI 1000 moved higher by 11.79 points to close at 5916.45.

Dallas Fed President Richard W. Fisher released these comments: can't say inflation threat has waned; current inflation remains too high; economies biggest risk is still inflation; economy currently sending 'mixed signals'; expects 2007 growth to pick up from 2006; final 2006 growth probably better than expected; housing 'sharp correction' may not be over; inflation appears to have reached 'stasis'; manufacturing moderating from high level; may have to hike rates if inflation doesn't wane and service sector continues strong growth.

Economic data released for the day:

ICSC-UBS Store Sales: Weekly measure of comparable store sales at major retail chains which is related to the general merchandise portion of retail sales, as reported by the International Council of Shopping Centers. This date accounts for approximately 10% of total retail sales. For week of December 16th week over week Store Sales came in at 1.6% and year over year Store Sales came in at 2.4%.

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. Housing Starts released for November came in as follows: Housing Starts 1.588 million and Housing Permits: 1.506 million.

Producer Price Index: A measure of the average price level for a fixed basket of consumer and capital goods paid by producers is the PPI. For November, PPI month over month change came in at 2.0% versus consensus of 0.4% and PPI less food and energy month over month change came in at 1.3% versus consensus of 0.2%.

Redbook: General merchandise portion of retail sales covering only approximately 10% of total retail sales, this data is a weekly measure of sales at department stores, chain stores and discounters. Store Sales year over year change for week of December 16th came in at 2.6%.

On the commodities markets, the trend was mostly higher across the board today: Light crude moved higher by $0.67 to close at $63.46 a barrel; Heating Oil closed with no change at $1.76 a gallon; Natural Gas moved higher by $0.03 to end the day at $7.23 per million BTU and Unleaded Gas closed higher by $0.04 at $1.70 a gallon.

Metals ended the session mostly higher across the board today: Gold moved higher by $7.50 to close at $625.40 an ounce; Silver closed higher by $0.19 at $12.71 an ounce; Platinum rallied higher by $16.40 to close at $1,118.50 an ounce and Copper ended the day lower by $0.01 to close at $3.02 per pound.

On the Livestock and Meat markets, the trend was mixed across the board today: Lean Hogs closed higher by 0.85 at 62.73; Pork Bellies closed higher by 0.90 to end the day at 92.68; Live Cattle closed lower by 0.40 to end the day at 90.08 and Feeder Cattle ended the day lower by 0.95 to close at 96.65.

Other Commodities: Corn moved higher by 7.25 today to close at 373.00 and Soybeans moved higher by 5.75 to close at 668.75.

Bonds were mostly lower across the board today: 2 year Bond closed with no change at 99 26/32; 5 year bond moved lower by 1/32 to close at 99 22/32; 10 year bond closed lower by 3/32 at 100 7/32 and the 30 year bond closed lower by 7/32 at 96 15/32.

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 3,962,622. Open Interest for Futures moved lower by 187,301 to close at 8,613,834 and the Open Interest for Options moved higher by 12,830 to close at 7,056,834 for a total Open Interest of 15,670,505 for a total loss on the day by 174,471. The mini Dow ended the session with a gain of 13 to close at 12549. The total Dow Exchange Volume for the day came in at 85,488 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 7.96 points today to close at $34.96; Rio Tinto plc (RTP) climbed higher by3.79 points on the day to close at $218.54; MasterCard Incorporated (MA) moved higher by 4.50 points to end the session at $97.40; Alexander’s Incorporated (ALX) plummeted by 13.00 points for a close at $425.00 and The Central Europe and Russia Fund Incorporated (CEE) fell 5.90 points to end at $51.20.

On the NASDAQ today, advancers came in at 1,363; decliners totaled 1,700; unchanged came in at 160; new highs came in at 58 and new lows came in at 36. Gainers and losers for the day on the NASDAQ: NutriSystem Incorporated (NTRI) moved higher by 2.98 points to close at $65.23; Avatar Holdings Incorporated (AVTR) gained 5.11 points to end at $84.54; MicroStrategy Incorporated (MSTR) moved ahead by 3.94 points to end the day at $116.25 and Google Incorporated (GOOG) gained 5.51 points for a close of $468.31.

We welcome comments on your Broker experience on our Message Board. View our day trading services available for the newbie day trader to the professional day trader. For short term investing, Millennium Swing Trades could be the right tool for you. Monitor full details of all calls made in our Trading Rooms by subscribing to our Market Report, published daily on our website.

 
 
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Market Commentary for December 19, 2006 from Millennium-Traders.com

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