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Market Commentary for May 14, 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 May 14, 2007 from Millennium-Traders.com

 

NewswireToday - /newswire/ - Somerset, PA, United States, 2007/05/14 - 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 session was very lack luster with tight trading ranges and moderate trading volume, basically the norm for a Monday trading session. The trend was generally south bound into the close of the trading session. At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) moved higher by 20.56 points to end the session at 13,346.78; the NYSE (New York Stock Exchange) shed 21.65 points to end at 9,765.38; the NASDAQ posted a loss of 15.78 points today for a close at 2,546.44; the S&P 500 moved lower by 2.70 points to end at 1,503.15 and the RUSSELL 2000 moved lower by 7.21 points to close at 822.22. 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 0.57 to close at 257.33 and the FTSE RAFI 1000 closed lower by 4.50 at 6,310.06.

Word from the Fed today: Banks tightening non-traditional, sub-prime lending standards.

Energy Information Administration Guy F. Caruso commented today: OPEC Should Increase Output For September meeting; output increase needed to offset Nigerian losses; U.S. gasoline prices should hit nominal record highs; nominal gasoline high seen for National weekly average and Nigerian losses 'not good news' in tight product market.

Economic data released for the day: N/A

Commodities Markets

The trend was mostly lower across the board today for the Energy Sector: Light crude moved lower by $0.07 today to close at $62.30 a barrel; Heating Oil moved lower by $0.02 again today to close at $1.87 a gallon; Natural Gas moved higher by $0.09 to close at $8.14 per million BTU and Unleaded Gas moved lower by $0.06 to close at $2.30 a gallon.

Metals Market ended the session lower across the board today: Gold moved lower by $2.20 to close at $671.10 an ounce; Silver moved lower by $0.07 to close at $13.24 an ounce; Platinum moved lower today by $12.40 to close at $1,329.30 an ounce and Copper ended the day lower by $0.11 today to end at $3.50 per pound.

On the Livestock and Meat Markets, the trend was mixed across the board today: Lean Hogs moved lower today by 0.85 today to close at 73.60; Pork Bellies ended the day lower by 0.23 to close at 104.48; Live Cattle moved higher by 0.03 to end the day at 92.98 and Feeder Cattle ended the day higher by 0.38 to close at 113.23.

Other Commodities: Corn moved lower today for a loss of 6.0 points to end at 363.25 and Soybeans posted a gain today of 9.25 to close at 771.25.

The e-mini Dow ended the session higher by 9 points to close at 13384. The total Dow Exchange Volume for the day came in at 131,746 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 1/32 at 99 18/32; 5 year bond closed lower by 3/32 at 99 16/32; 10 year bond closed lower by 4/32 at 98 15/32 and the 30 year bond closed lower by 8/32 at 98 6/32.

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 3,889,499; Open Interest for Futures moved higher by 64,273 points to close at 10,106,769; the Open Interest for Options moved higher by 78,149 points to close at 7,418,411 and the Open Interest for OTC moved higher by 360 to close at 4,934 for a total Open Interest of 17,530,114 for a total gain on the day by 142,782.

On the NYSE today, advancers came in at 1,153; decliners totaled 2,073; unchanged came in at 144; new highs came in at 262 and new lows came in at 28. Gainers and losers for the day on the NYSE: Rio Tinto plc (RTP) fell sharply today by 10.84 points for a closing on the Big Board of $280.05; Viasys Healthcare Incorporated (VAS) rallied higher today for a gain of 36.86% to move higher by 11.63 points to end the trading day at $43.18; Chicago Mercantile Exchange Holdings (CME) moved lower on the trading session by 6.81 points to end the day at $529.49; Massey Energy Company (MEE) moved lower on the Big Board for a loss on the trading session of 2.73 points to close at $27.60 and Kubota Corporation (KUB) fell by 4.16 points to end the day at $40.89.

On the NASDAQ today, advanced totaled 981 decliners totaled 2,075; unchanged came in at 137, new highs came in at 142 and new lows came in at 100. Gainers and losers for the day on the NASDAQ: Kreisler Manufacturing Corporation (KRSL) gave up 16.07% on the trading day for a loss of 4.34 points to end the day at $22.67; TeleTech Holdings Incorporated (TTEC) shed 3.61 points for an end of trading day price at $34.04; Google Incorporated (GOOG) lost 5.63 points for a closing price of $461.11 and Research in Motion Limited (RIMM) moved lower on the trading session by 3.83 points to close at $148.56.

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Market Commentary for May 14, 2007 from Millennium-Traders.com

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