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Market Commentary for January 25, 2007 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 January 25, 2007 from Millennium-Traders.com

 

NewswireToday - /newswire/ - Somerset, PA, United States, 2007/01/25 - 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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The Bulls handed the baton to the Bears today as we watched the markets drop lower and lower as the day moved on. The board was mostly red across the board ignoring of any positive earnings that were reported. At the closing bell, here is how the major indices ended the day: the DOW
(Dow Jones Industrial Average) fell sharply lower by 119.21 points to end the session at 12502.56; the NYSE (New York Stock Exchange) posted a triple digit loss as well by shedding 113.83 points to end at 9154.66; the NASDAQ moved lower by 32.04 points to close at 2434.24; the S&P 500 posted a double digit loss of 16.23 points to end at 1423.90 and the RUSSELL 2000 lost 9.84 points to close at 784.19.
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 1.84 to close at 240.52 and the FTSE RAFI 1000 moved lower by 58.00 points to close at 5960.36.

Economic data released for the day:

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. U.S. Jobless Claims rose by 36K to 325K for week of January 20th compared to survey of an increase by 20K and U.S. January 13 Week Continuing Claims fell by 39K to 2,484,000.

Existing Home Sales: Previously constructed homes, co-ops and condominiums closed during the month are tallied as Existing Home sales as reported by the National Association of Realtors. Existing Home Sales account for a large share of the market compared to new home sales plus, indicates the trend in housing markets. U.S. Inventory of Unsold U.S. Homes at 6.8 Months Supply and U.S. December Existing Home Sales fell by 0.8% to 6.22M rate compared to U.S. December Existing Home Sales Consensus 6.25M Rate.

Help Wanted Index: From 51 major newspapers across the country, the Help Wanted Index is a monthly index of the number of lines of help-wanted advertising. The index indicates the strength or weakness in the labor market. U.S. Conference Board December Help-Wanted Index up at 33.

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. Natural Gas Inventory fell 179 BCF to 2757 BCF and analysts were expecting a draw of 172 BCF, ranging from a draw of 150-183 BCF.

On the commodities markets, the trend was lower across the board today: Light crude moved lower by $1.14 to close at $54.23 a barrel; Heating Oil closed lower by $0.04 at $1.56 a gallon; Natural Gas moved lower by $0.47 to end the day at $6.91 per million BTU and Unleaded Gas closed lower by $0.02 at $1.45 a gallon.

Metals ended the session higher across the board today: Gold moved higher by $0.20 to close at $654.70 an ounce; Silver closed higher by $0.22 at $13.49 an ounce; Platinum rallied higher by $14.90 to close at $1,188.00 an ounce and Copper ended the day higher by $0.05 to close at $2.65 per pound.

On the Livestock and Meat markets, the trend was mostly higher across the board today: Lean Hogs closed higher by 0.83 to close at 67.50; Pork Bellies closed the day lower by 0.83 at 98.10; Live Cattle closed higher by 0.05 to end the day at 92.98 and Feeder Cattle ended the day higher by 0.60 to close at 94.30.

Other Commodities: Corn rebounded today higher by 6.25 to close at 407.00 and Soybeans moved lower by 1.75 to close at 713.25.

Bonds were lower across the board today: 2 year bond closed lower by 3/32 at 99 26/32; 5 year bond closed with lower by 8/32 at 98 30/32; 10 year bond closed lower by 14/32 at 98 3/32 and the 30 year bond closed lower by 26/32 at 92 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 2,759,819. Open Interest for Futures fell by 6,241 to close at 9,159,230 and the Open Interest for Options moved higher by 62,460 to close at 7,990,205 for a total Open Interest of 17,150,597 for a total gain on the day by 56,219.

The mini Dow ended the session with a hefty loss today of 116 to close at 12645. The total Dow Exchange Volume for the day came in at 108,332 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) moved lower today by 12.54 points to close at $579.00 for the day; Rio Tinto plc (RTP) gave up 5.57 points to close at $213.42; Min iShares FTSE/Xinhua China (FXI) shed 5.59 points to close at $104.91; ITT Educational Services Incorporated (ESI) rallied higher by 5.43 points to close at $76.01 and Siemens AG (SI) gained 4.90 points to close at $105.09 on the day.

On the NASDAQ today, advancers came in at only 884; decliners totaled 2,145; unchanged came in at 148; new highs came in at 107 and new lows came in at 36. Gainers and losers for the day on the NASDAQ: Varian Incorporated (VARI) climbed 11.17% for a gain of 5.22 points to end the day at $51.97; Google Incorporated (GOOG) fell by 9.27 points to close at $489.80; Triad Guaranty Incorporated (TGIC) fell sharply by 8.30 points for a closing price at $50.15 and Respironics Incorporated (RESP) gained 4.33 points to end the day at $42.46.

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Market Commentary for January 25, 2007 from Millennium-Traders.com

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