PRTODAY / NewswireToday Free press release distribution service network

Written by / Agency / Source: Millennium-Traders

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Market Commentary for May 16, 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 16, 2007 from Millennium-Traders.com

 

NewswireToday - /newswire/ - Somerset, PA, United States, 2007/05/16 - Written for day traders, active traders and investors. A review of the market activity for the day, economic data plus, world news.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Brokerage/Trading Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

A volatile session into the afternoon which was proceeded by mostly slow moving trading action from the morning session on. Overall, the major indices were in the hands of the Bulls, into the closing bell. At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) moved posted a triple digit gain by 103.69 points to end the session at 13,487.53; the NYSE (New York Stock Exchange) gained 60.88 points to end at 9,825.61; the NASDAQ posted a gain of 22.13 points today for a close at 2,547.42; the S&P 500 moved higher by 12.95 points to end at 1,514.14 and the RUSSELL 2000 moved higher by 6.02 points to close at 820.20. 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 0.50 to close at 257.84 and the FTSE RAFI 1000 moved higher by 41.15 to close at 6,351.21.

President of the Federal Reserve Bank of Dallas, Richard W. Fisher commented today: globalization raises economies' speed limits; services sector drives U.S. economy; globalization gathering in intensity; U.S. must stay at fore of information age and globalization optimizes operations.

Donald L. Kohn, Member of the Federal Reserve Board of Governors commented today: market innovation has improved economic resilience.

Randall S. Kroszner, Member of the Federal Reserve Board of Governors commented today: more globalization means flat yield curves.

President of the Federal Reserve Bank of New York, Timothy F. Geithner: there are limits to market transparency.

President of the Federal Reserve Bank of Kansas City, Thomas M. Hoenig commented late yesterday: Monetary Policy 'Modestly Firm'; Federal deficit needs to come down; monetary policy 'modestly firm' ; must be mindful of higher energy costs on inflation; export sector has a very good outlook; should see continued decline in inflation; should see 'slight' unemployment increase; labor markets remain relatively strong; housing has had effect on economy; economy over last year has been slowing and we will see economy strengthen this year.

President of the Federal Reserve Bank of New York, Timothy F. Geithner commented late yesterday: will take longer to fix equity derivative trades; does not address U.S. rate, economic outlook; good rate policy can mitigate asset mismatches; future shocks likely rarer, but more dangerous; markets may not stay this placid in future; global economy seeing stable growth, low inflation; recent markets defined by low volatility and Regulators should improve market shock absorbers.

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. MBA Purchase Applications data released today: U.S. MBA Market Index falls 0.8% to 675.5 from 680.7; U.S. MBA Purchase Index falls 1.4% to 432.3 from 438.3 and U.S. MBA Refinancing Index rises 0% to 2115.5 from 2115.2.

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 data released today: U.S. April Housing Starts rose by 2.5% to 1.528 Million compared to consensus of a drop by 2.2%; Building Permits fell by 8.9% to 1.429 Million rate in April and March Housing Starts were revised to an increase by 0.3% from a rise by .0.8%

Industrial Production: The physical output of the nation’s factories, utilities and mines. The Industrial sector accounts for less than one fifth of the economy with a mostly cyclical variation. The usage of available resources amount utilities, mines and factories is the capacity utilization rate. A warning sign of inflationary pressure is detected by an increase operating rate. Industrial Production data released today: U.S. April Industrial Production rose by 0.7% compared to consensus of 0.3%; U.S. April Capacity Utilization rose by 0.4 points at 81.6% compared to consensus of 81.5%; U.S. March Industrial Production was revised to a drop of 0.3% from a drop of 0.2% and U.S. March Capacity Use was revised to 81.2% from 81.4%.

EIA Petroleum Status Report: EIA (Energy Information Administration) provides weekly petroleum inventories in the United States whether they are produced here or abroad. Prices for petroleum products are determined by the level of inventories. Petroleum Status report released today for week of May 11th, crude oil inventories came in at 1.0 Million Barrels.

Commodities Markets

The trend was mostly lower across the board today for the Energy Sector: Light crude moved lower by $0.77 today to close at $62.40 a barrel; Heating Oil moved lower by $0.03 again today to close at $0.03 a gallon; Natural Gas closed with no change at $8.02 per million BTU and Unleaded Gas moved higher by $0.04 to close at $2.33 a gallon.

Metals Market ended the session lower across the board today: Gold moved sharply lower by $13.00 to close at $661.50 an ounce; Silver moved lower by $0.39 to close at $12.93 an ounce; Platinum moved sharply lower today by $13.80 to close at $1,325.80 an ounce and Copper ended the day lower by $0.11 today to end at $3.42 per pound.

On the Livestock and Meat Markets, the trend was mixed across the board yet again today: Lean Hogs closed with higher by 1.25 to close at 74.88; Pork Bellies ended the day lower by 0.68 to close at 103.60; Live Cattle moved lower by 0.30 to end the day at 92.73 and Feeder Cattle ended the day higher by 0.25 today to close at 113.10.

Other Commodities: Corn moved higher again today for a gain of 5.00 points to end at 376.50 and Soybeans posted another nice gain today of 14.75 to close at 792.75.

The e-mini Dow ended the session higher by 88 points to close at 13526. The total Dow Exchange Volume for the day came in at 250,039 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 mostly lower across the board again today: 2 year bond closed with no change at 99 18/32; 5 year bond closed lower by 1/32 at 99 14/32; 10 year bond closed lower by 1/32 at 98 11/32 and the 30 year bond closed lower by 1/32 at 98.

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 4,380,834; Open Interest for Futures moved higher by 174,902 points to close at 10,336,273; the Open Interest for Options moved higher by 73,248 points to close at 7,520,679 and the Open Interest for OTC had no change to close at 4,934 for a total Open Interest of 17,861,886 for a total gain on the day by 248,150.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Brokerage/Trading Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: Millennium-Traders

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Brokerage/Trading articles,
CATCH Visitors via Your Competitors Announcements!


Market Commentary for May 16, 2007 from Millennium-Traders.com

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

Millennium-Traders |
Publisher Contact: MTnews - Millennium-Traders.com 
814-445-1035 support[.]millennium-traders.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Millennium-Traders securities in any jurisdiction including any other companies listed or named in this release.

Brokerage/Trading via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From Millennium-Traders / Company Profile


Read Brokerage/Trading Most Recent Related Newswires:

SRMEX's Vice Chairman Eikichi Hirano About the Gradual Expansion of Capital Market
Xtrade Wins Best Broker in the Middle East Award
Russian Foreign Trade Reports on Russian Trade with North American Countries Q1 2016
DarkMaindFX Introduces the Beta Version of its Economic Indicator Services
Hermes International Expo to Celebrate 25th Anniversary in Delaware County
GoldSilver Central Approved As Singapore Bullion Market Association Member
OANDA Acquires Tradestation Forex Accounts
[TYPO FOUND BY SYSTEM] Beeline Broking Ltd Launches 'Tailor Made Brokerage Plan'
Signals365.com Announces Key Features - Makes it the Best Binary Options Signals Service
Binary Options Signals from Signals365.com Helps Traders to Get Higher Win-Rate
/RC/ Van Ecker Couder Associates Announce Expansion Program
/RC/ Voth Nixon Group Bolsters Deferred Income Annuity
Grant Becker Associates Chalks Up Another Successful Year of CSR Activities
Evanson Asset Management Dividend Stocks to Safeguard An All-weather Portfolio
AKFinancials Announces its 2015 Forex Course Schedule

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  BizJobs.com

Visit  Triggr & Bloom





 
  ©2016 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)