As expected, the trading session was rather listless as many day traders and investors remain on vacation, after the Memorial Day holiday, extended holiday weekend. The Bulls appeared to control the trading action amidst moderate trading volume and trading ranges. At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) moved higher by 14.06 points to end the session at 13,521.34; the NYSE (New York Stock Exchange) posted a gain of 16.38 points to end at 9,892.49 the NASDAQ posted a gain of 14.06 points today for a close at 2,572.06; the S&P 500 moved higher by 2.38 points to end at 1,518.11 and the RUSSELL 2000 moved higher by 7.60 points to close at 837.53. 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 0.43 to close at 259.42 and the FTSE RAFI 1000 moved higher by 12.44 to close at 6,375.55.
Dallas Fed May Business Activity came in at 20.9 versus April reading of 15.9 and Dallas Fed May Manufacturing Production Index came in at 25.0 versus April reading of 24.3.
Chicago Fed Midwest Manufacturing Index was higher by 0.6% in April versus March; Chicago Fed Midwest Manufacturing Index was higher by 0.1% versus April 2006; Chicago Fed Index: April Output was higher by in 3 Of 4 Manufacturing Sectors and Chicago Fed Index: Apr Midwest Auto Output was higher by 2.0% versus March.
Economic data released for the day:
Consumer Confidence: A compilation by the Conference Board of a survey of five thousand consumer attitudes, across the country, on present economic conditions and expectations of future conditions. Data released today: U.S. Conference Board May Consumer Confidence came in at 108.0 versus April reading of 106.3; Conference Board May Present Situation Index came in at 136.1 versus April reading of 133.5 and Conference Board May Expectations Index came in at 89.2 versus April reading of 88.2.
The trend was lower across the board today for the Energy Sector: Light crude moved lower by $1.90 today to close at $63.30 a barrel; Heating Oil moved lower by $0.07 to close at $1.87 a gallon; Natural Gas moved lower by $0.06 at $7.73 million BTU and Unleaded Gas moved lower by $0.11 to close at $2.30 a gallon.
Metals Market ended the session mixed across the board today: Gold moved higher by $2.00 to close at $663.40 an ounce; Silver moved higher by $0.22 to close at $13.22 an ounce; Platinum moved sharply lower again today by $13.00 to close at $1,264.80 an ounce and Copper ended the at $3.32 per pound.
On the Livestock and Meat Markets, the trend was mostly higher across the board today: Lean Hogs ended the day higher by 0.53 to close at 73.93; Pork Bellies ended the day lower by 0.05 to close at 102.08; Live Cattle moved higher by 0.28 to end the day at 91.43 and Feeder Cattle ended the higher by 0.60 to close at 111.55.
Other Commodities: Corn moved lower today for a loss of 7.50 points to end at 367.50 and Soybeans moved sharply lower today with a loss of 15.00 points to end at 797.50.
The e-mini Dow ended the session lower by 9 points to close at 13,549. The total Dow Exchange Volume for the day came in at 112,674 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 today: 2 year bond closed lower by 2/32 to close today at 99 8/32; 5 year bond closed lower by 5/32 at 98 17/32; 10 year bond closed lower by 6/32 at 96 31/32 and the 30 year bond closed lower by 7/32 at 95 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 4,167,968; Open Interest for Futures moved lower by 120,703 points to close at 10,579,629; the Open Interest for Options moved lower by 764,528 points to close at 6,380,943 and the Open Interest for OTC closed with no change at 4,959 for a total Open Interest of 16,965,531 for a total loss on the day by 885,231.
On the NYSE today, advancers came in at 2,003; decliners totaled 1,229; unchanged came in at 132; new highs came in at 195 and new lows came in at 30. Gainers and losers for the day on the NYSE: Chicago Mercantile Exchange Holdings (CME) bolted higher on the Big Board for a gain of 12.52 points with a end of day price at $526.02; Avalon Bay Communities (AVB) moved nicely higher on the trading session for a gain of 8.20 points to end the trading day at $127.10; BRE Properties Incorporated (BRE) posted a favorable gain of 3.74 points to end the day at $63.33; Advanced Medical Optics Incorporated (EYE) fell sharply for a loss on the trading day of 13.71% to move lower by 5.51 points for a closing price at $34.69; Archstone-Smith Trust (ASN) rallied higher by 11.21% to tack on 6.19 points to close the day at $61.42 and Washing Group International Incorporated (WNG) bolted higher on buy out offer for a gain of 21.54% to move higher by 15.07 points to end the session at $85.04.
On the NASDAQ today, advanced totaled 1,925 decliners totaled 1,129; unchanged came in at 136 new highs came in at 126 and new lows came in at 53. Gainers and losers for the day on the NASDAQ: CT Communications Incorporated (CTCI) plowed higher on the trading day for a whopping gain of 45.00% to move higher on the session by 9.71 points to close at $31.29; CDW Corporation (CDWC) rallied higher by 11.17% to gain 8.44 points on the trading day to close the session at $84.00 and Guitar Center Incorporated (GTRC) posted a nice gain of 10.63% to move higher by 5.04 points to end the day at $52.47.
If you never tried our Day Trading Rooms, simply click on Free Trial or the Free Trial tab on our web site to sign up to our Stocks Trading Room, Futures and Commodities Trading Room or our Forex Trading Room for yourself. There is no credit card necessary to subscribe to a one week free trial. Before you log onto our Trading Rooms for the first time, be sure to read our Introduction to Our Day Trading Rooms page to see how our Trading Rooms operate. Also, be sure to view our Market Report Sample to see how our calls are logged on our Performance Index for our Trading Rooms, Weekly Swing Trades plus, our Morning Watch List services.
New to Day Trading? Sign up today for a personalized One-on-One Training session. Utilize our professional online trading education for Day Traders who day trade Stocks and Futures.
If there is a subject or issue you would like to see covered on our Daily Commentary, send an email via our Contact Us page with details of your request to be reviewed by our editorial staff.