Daily Market Commentary for June 16, 2010

BP Oil Spill Update

There was plenty of news reported today in the latest BP oil spill update. (Read more at Millennium-Traders.Com)

Economic data released today:

MBA [Mortgage Bankers Association] Mortgage Applications:
U.S. MBA Refinance Index rose 21.1% at 3,461.5; Last Week 2,859.5; U.S. MBA Purchase Index rose 7.3% at 180.0; Last Week 167.8; U.S. MBA Market Index rose 17.7% at 659.9; Last Week 560.9.

Building Permits:
Building Permits fell 5.9% to 574K Rate in May.

PPI [Producer Price Index] (MoM):
U.S. April PPI Unrevised at -0.1%; U.S. May Passenger Car Prices rose 0.2%; U.S. May PPI Energy Prices fell 1.5%; U.S. May PPI Crude Goods fell 2.8%; Core fell 1.6%; U.S. May PPI Intermediate Goods rose 0.4%; Core rose 0.3%; U.S. May PPI Excluding-Food & Energy rose 0.2%; Compared to Consensus of an increase by 0.1%; U.S. May Producer Prices fell 0.3%; Compared to Consensus of a decrease by 0.5%.

Housing Starts:
April Housing Starts Revised to an increase by 3.9% from an increase by 5.8%; May Single-Family Housing Starts fell 17.2% to 468K; U.S. May Housing Starts fell 10.0% to 593K; Compared to Consensus of a decrease by 5.2%.

Capacity Utilization Rate:
U.S. May Capacity Utilization rose 1.0 Point at 74.7%; Compared to Consensus of 74.5%; U.S. April Capacity Use Unrevised at 73.7%.

Industrial Production (MoM):
U.S. May Industrial Production rose 1.2%; Compared to Consensus of an increase by 1.0%; U.S. April Industrial Production Revised to an increase by 0.7% from an increase by 0.8%.

Crude Oil Inventories from DOE:
U.S. Refineries Ran at 89.1% capacity; Was Seen at 89.20%; U.S. Refineries Ran at 89.1% capacity versus 87.5% Week Ago; U.S. Distillate Stockpiles rose 1.836 Million Barrels in Week; Was Seen increasing by 0.3 Million Barrels; U.S. Distillate Stockpiles rose 1.836 Million Barrels at 154.824 Million Barrels; U.S. Gasoline Stockpiles fell 0.008 Million Barrels in Week; Was Seen decreasing by 0.4 Million Barrels; U.S. Gasoline Stockpiles fell 0.008 Million Barrels at 218.976 Million Barrels; U.S. Crude Oil Stockpiles fell 1.829 Million Barrels in Week; Was Seen decreasing by 0.7 Million Barrels; U.S. Crude Oil Stockpiles fell 1.829 Million Barrels At 361.415 Million Barrels.

At the NYSE closing bell on the New York Stock Exchange, here is how the major world indices and major U.S. stock indices ended the trading session on the world markets as well as the emerging markets including the stock market closing bell price:
DOW (Dow Jones Industrial Average) gain 4.69 points, EOD 10,409.46
NYSE (New York Stock Exchange) shed 13.79, EOD 6,976.09
National Association of Securities Dealers Automated Quotations (NASDAQ) shed 0.59 points, EOD 2,305.29
S&P 500 (SPX) shed 0.59 points, EOD 1,114.64
BEL 20 (BEL20) gain 4.49 points, EOD 2,513.80
CAC 40 (CAC40) gain 14.42 points, EOD 3,675.93
FTSE100 (UKX100) gain 20.1 points, EOD 5,237.92
NIKKEI 225 (NIK/O) triple digit gain 179.26.04 points, EOD 10,067.15

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 1,267, declined stock prices 1,850, unchanged stock prices 111, stock prices hitting new highs 58 and stock prices hitting new lows 32. NYSE quotes for volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the New York Stock Exchange stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: FDX shed 5.03, HOD 82.05, LOD 77.93, EOD 77.98; BP gain 0.34, HOD 33.00, LOD 29.58, EOD 31.74; RIG shed 1.50, HOD 49.67, LOD 46.75, EOD 47.01; PGR shed 0.12, HOD 19.88, LOD 19.72, EOD 19.83; CME gain 0.99, HOD 313.80, LOD 307.14, EOD 310.74; APC shed 1.65, HOD 45.54, LOD 42.05, EOD 43.06.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,093, declined stock prices 1,592, unchanged stock prices 134, stock prices hitting new highs 59 and stock prices hitting new lows 27. NASDAQ quotes, volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the NASDAQ stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: AAPL gain 7.56, HOD 267.75, LOD 260.63, EOD 267.25; PCLN gain 10.64, HOD 198.80, LOD 192.72, EOD 196.41; AMZN gain 0.06, HOD 127.98, LOD 125.36, EOD 126.90; UPRO shed 0.09, HOD 146.99, LOD 142.28, EOD 145.19.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 225, declined stock prices 254, unchanged stock prices 34, stock prices hitting new highs 7 and stock prices hitting new lows 8.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Mar 10: EOD 1110.00; Change 0.75
E-mini NASDAQ-100 (NQ) Mar 10: EOD 1,903.50; Change 10.25
E-mini DOW $5 (YM) Mar 10: EOD 10,352; Change 20
E-mini S&P MidCap 400 (MF) Mar 10: EOD 774.700; Change -1.90
Nikkei 225 (Yen) Mar 10: EOD 10,095; Change 60

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.8126 to U.S. Dollars 1.2300
Japanese Yen 91.4050 to U.S. Dollars 0.0109
British Pound 0.6767 to U.S. Dollars 1.4800
Canadian Dollar 1.0243 to U.S. Dollars 0.9759
Swiss Franc 1.1299 to U.S. Dollars 0.8849

COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (July 10) gain $0.73, EOD $77.67 per barrel ($US per barrel)
Heating Oil (July 10) gain $0.04, EOD $2.11 a gallon ($US per gallon)
Natural Gas (July 10) shed $0.21, EOD $4.98 per million BTU ($US per mmbtu.)
Unleaded Gas (July 10) gain $0.02, EOD $2.15 gallon ($US per gallon)

Metals Markets - Comex:
Gold (June 10) shed $3.90, EOD $1,229.30 ($US per Troy ounce)
Silver (June 10) shed $0.13, EOD $18.43 ($US per Troy ounce)
Platinum (June 10) shed $8.50, EOD $1,567.50 ($US per Troy ounce)
Copper (June 10) shed $0.00, EOD $2.99 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (June 10) gain $0.77, EOD $80.90
Pork Bellies (July 10) shed $0.50, EOD $97.50
Live Cattle (June 10) unchanged, EOD $90.05
Feeder Cattle (August 10) shed $0.07, EOD $110.90

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (July 10) gain $2.50, EOD $356.25
Soybeans (July 10) gain $8.25, EOD $957.75

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