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The markets shared their hands today with both the Bulls and the Bears amidst moderate volume. An improved trading atmosphere for day traders created anticipation over the markets not so distant future direction. Investors may be seen starting to cash in on recent gains, time will tell. At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) moved higher by 34.54 points to end the session at 12,953.94; the NYSE (New York Stock Exchange) posted a loss of 12.06 points to end at 9,648.50; the NASDAQ squeaked by with a gain of .87 points today for a close at 2,524.54; the S&P 500 moved lower by 0.52 points to end at 1,480.41 and the RUSSELL 2000 moved lower by 1.19 points to close at 826.36. 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 0.37 to close at 254.41 and the FTSE RAFI 1000 closed lower by 1.73 at 6,215.49.
Richmond Fed: April Retail Revenues Index fell by 1 versus March 0 and April Services Revenues Index came in at 5 versus March 9.
UK's CBI: April Export Orders fell by 6 versus 0 in March; April Order Books rose by 2 versus increase by 8 in March; April Industrial Output in line with Forecast and April Industrial Output Balance rose by 18 versus March increase by 21.
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 April 21st, store sales week over week sales fell by 0.3% and store sales year over year came in at 2.1%.
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. U.S. Retail Sales as reported today: fell by 4.2% first two weeks in April versus March.
Bank of Canada Announcement: Approximately every six weeks, the Bank of Canada Governing Counsel meets and makes an announcement to indicate the near term monetary policy direction. Bank of Canada released today: 4.25% Rate consistent with achieving inflation target; risks to inflation views roughly balanced, tilt to upside; Core CPI to reach target by end 2007, total CPI by mid 2008; BOC cuts GDP views to 2.2% for 2007, 2.7% for 2008; net exports drag on 2007 growth as U.S. slowdown prolonged; inflation, pressure on capacity stronger than expected and economy operating just over production capacity in first quarter 2007.
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. Conference Board April Expectations Index came in at 85.8 versus March reading at 87.9; Conference Board April Present Situation Index at 131.3 versus March 138.5 and U.S. Conference Board April Consumer Confidence 104.0 versus March 108.2.
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. Existing Home Sales reported today: U.S. March Existing Home Sales fell by 8.4% to 6.12 Million Rate; U.S. March Median Existing Home Price fell by 0.3% on the year to $217,000; U.S. Inventory of Unsold U.S. Homes at 7.3 Months Supply and U.S. March Existing Home Sales Consensus at Rate of 6.42 Million.
On the commodities markets, the trend was mixed across the board today for the Energy sector: Light crude moved lower by $1.31 today to close at $64.58 a barrel; Heating Oil moved lower by $0.05 to close at $1.85 a gallon; Natural Gas closed higher by $0.02 at $7.71 per million BTU and Unleaded Gas closed higher by $0.02 today at $2.21 a gallon.
Metals Market ended the session mixed across the board today: Gold moved lower by $6.50 to close at $687.70 an ounce; Silver moved lower today by $0.27 to end the session at $13.78 an ounce; Platinum moved lower today by $20.20 to close at $1,311.50 an ounce and Copper ended the day lower by $0.08 today to end at $3.56 per pound.
On the Livestock and Meat Markets, the trend was mostly lower across the board today: Lean Hogs moved lower today by 1.05 again today to close at 75.45; Pork Bellies ended the day lower by 0.70 to close at 102.45; Live Cattle moved higher by 0.15 to end the day at 93.30 and Feeder Cattle ended the day lower by 0.38 to close at 112.10.
Other Commodities: Corn posted a gain today 7.25 points to end at 371.25 and Soybeans posted a heavy loss today by 11.75 to close at 726.25.
Bonds were higher across the board today: 2 year bond closed higher by 2/32 at 99 24/32; 5 year bond closed higher by 5/32 at 99 25/32; 10 year bond closed higher by 8/32 at 99 25/32 and the 30 year bond closed higher by 11/32 at 98 25/32.
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 2,476,444; Open Interest for Futures moved higher by 36,533 points to close at 9,662,205; the Open Interest for Options moved higher by 107,796 points to close at 6,703,907 and the Open Interest for OTC closed with no change at 4,443 for a total Open Interest of 16,370,555 for a total gain on the day by 144,329.
The e-mini Dow ended the session higher by 28 at 1290. The total Dow Exchange Volume for the day came in at 102,201 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.
On the NYSE today, advancers came in at 1,435; decliners totaled 1,785; unchanged came in at 151; new highs came in at 246 and new lows came in at 16. New York Stock Exchange movers for the day today:
Snap-On Incorporated (SNA) made a nice move today by 15.19% for a gain of 7.41 points to close at $56.20; Whirlpool Corporation (WHR) ran higher on the Big Board today by 13.84% for a nice gain of 12.50 points to end today’s session at $102.85; Stepan Company (SCL) climbed higher today by 10.37% to gain 2.71 points on the market day for a close at $28.85; Deluxe Corporation (DLX) moved higher by 2.94 points to close at $38.70; Lexmark International Incorporated (LXK) fell by 5.57 points to end the day at $56.44 and ResMed Incorporated (RMD) fell sharply by 9.85% to shed 4.79 points to end the trading session at $43.85.
On the NASDAQ today, advancers came in at 1,379; decliners totaled 1,677; unchanged came in at 132 new highs came in at 120 and new lows came in at 67. Gainers and losers for the day on the NASDAQ: Transcend Services, Incorporated (TRCR) bolted higher today by 38.91% for a point gain of 3.77 for a closing price of $13.46; Woodward Governor Company (WGOV) grabbed a gain of 17.41% to tack on 7.47 points, on the session; PACCAR Incorporated (PCAR) ran higher on the day by 11.04% to gain 8.69 points for an end of day price at $87.48 and II-VI Incorporated (IIVI) plummeted lower by 19.48% for a loss of 7.03 points to end at $29.05.
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