Daily Market Commentary for September 2, 2009

Economic Data

Investors braced themselves this morning as new economic data was released. (read more at Millennium-Traders.Com)

Economic data released today:

MBA (Mortgage Bankers Association) Mortgage Applications:
U.S. MBA Market Index fell 2.2% at 554.1 compared to last week reading of 566.4; U.S. MBA Purchase Index fell 1.0% at 277.6 compared to last week reading of 280.4; U.S. MBA Refinance Index fell 3.1% at 2164.1 compared to last week reading of 2233.5.

ADP Nonfarm Employment Change:
ADP Sees August U.S. Private Sector Jobs -298,000; ADP August U.S. Private Sector Jobs Expected -213,000.

Nonfarm Productivity:
U.S. 2Q Non-Farm Productivity Revised to an increase by 6.6% from an increase by 6.4%; U.S. 2Q Non-Farm Productivity Consensus rose 6.5%.

Unit Labor Costs:
U.S. 2Q Unit Labor Costs Revised to fall by 5.9% from a decrease by 5.8%; U.S. 2Q Unit Labor Costs Consensus fell 5.8%.

Factory Orders:
U.S. Factory Orders rose 1.3% in July compared to Consensus of an increase by 2.3%; July Factory Orders, Excluding Transportation, fell 0.7%; July Factory Orders, Excluding Defense, rose 0.9%; July Durable Goods revised to rise 5.1% from an increase by 4.9%; June Factory Orders revised to rise 0.9% from an increase by 0.4%.

Crude Oil Inventories as released from DOE (Department of Energy):
U.S. Crude Oil Stockpiles fell 0.372 million barrels at 343.388 million barrels; U.S. Crude Oil Stockpiles fell 0.372 million barrels in week compared to expectations of an increase by0.4 million barrels; U.S. Gasoline Stockpiles fell 2.969 million barrels at 205.085 million barrels; U.S. Gasoline Stockpiles fell 2.969 million barrels in week compared to expectations of a decrease by 0.7 million barrels; U.S. Distillate Stockpiles rose 1.179 million barrels at 163.563 million barrels; U.S. Distillate Stockpiles rose 1.179 million barrels in week compared to expectations of an increase by 0.7 million barrels; U.S. Refineries Ran at 87.15% capacity versus 84.09% a week ago; U.S. Refineries Ran at 87.15% capacity was seen at 84.39.

FOMC Meeting Minutes:
Fed officials more confident is recession ending; Fed officials more confident growth to resume 2H 2009; Fed members see benefits in tapering off MBS buys; Fed officials cool to expanding TALF assets; most Fed officials expect slow recovery.

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) shed 34.39 points, EOD 9,276.21
NYSE (New York Stock Exchange) shed 13.02, EOD 6,474.79
National Association of Securities Dealers Automated Quotations (NASDAQ) shed 2.51 points, EOD 1,966.38
S&P 500 (SPX) shed 3.64 points, EOD 994.40
BEL 20 (BEL20) shed 41.44 points, EOD 2,290.72
CAC 40 (CAC40) shed 10.31 points, EOD 3,573.13
FTSE100 (UKX100) shed 2.15 points, EOD 4,817.55
NIKKEI 225 (NIK/O) shed 249.6 points, EOD 10,280.46

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 1,191 declined stock prices 1,857, unchanged stock prices 103, stock prices hitting new highs 41 and stock prices hitting new lows 8. 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: PAY gain 2.76, HOD 14.29, LOD 12.25, EOD 13.89; DCI shed 2.15, HOD 36.50, LOD 34.66, EOD 34.78; AIG gain 1.95, HOD 39.92, LOD 32.66, EOD 37.95; CME shed 1.40, HOD 285.92, LOD 276.64, EOD 277.77; WLT gain 1.56, HOD 52.47, LOD 49.60, EOD 52.17; AEM gain 6.10, HOD 62.94, LOD 57.20, EOD 62.42; TXT gain 1.89, HOD 17.76, LOD 15.92, EOD 17.39; NEM gain 3.72, HOD 44.09, LOD 40.70, EOD 43.90.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,294, declined stock prices 1,413, unchanged stock prices 130, stock prices hitting new highs 15 and stock prices hitting new lows 11. 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: APSG shed 2.78, HOD 24.20, LOD 23.00, EOD 23.44; TTWO gain 0.79, HOD 11.18, LOD 10.03, EOD 10.95; FSLR gain 3.34, HOD 119.79, LOD 112.09, EOD 118.32; BIDU gain 6.10, HOD 327.84, LOD 316.50, EOD 324.86; HOLX shed 0.19, HOD 16.16, LOD 15.49, EOD 16.01.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 276, declined stock prices 240, unchanged stock prices 57, stock prices hitting new highs 22 and stock prices hitting new lows 2.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Sept 09: EOD 996.25; Change -0.25
E-mini NASDAQ-100 (NQ) Sept 09: EOD 1,598.00; Change 2.50
E-mini DOW $5 (YM) Sept 09: EOD 9,302; Change -1
E-mini S&P MidCap 400 (MF) Sept 09: EOD 637.60; Change -2.50
Nikkei 225 (Yen) Sept 09: EOD 10,240; Change -45

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7009 to U.S. Dollars 1.4268
Japanese Yen 92.1300 to U.S. Dollars 0.0109
British Pound 0.6144 to U.S. Dollars 1.6276
Canadian Dollar 1.1041 to U.S. Dollars 0.9057
Swiss Franc 1.0603 to U.S. Dollars 0.9431

COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (October 09) no change, EOD $68.05 per barrel ($US per barrel)
Heating Oil (October 09) shed $0.01, EOD $1.75 a gallon ($US per gallon)
Natural Gas (October 09) shed $0.11, EOD $2.72 per million BTU ($US per mmbtu.)
Unleaded Gas (October 09) gain $0.03, EOD $1.81 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (December 09) gain $22.00, EOD $978.50 ($US per Troy ounce)
Silver (December 09) gain $0.31, EOD $15.37 ($US per Troy ounce)
Platinum (October 09) gain $3.30, EOD $1,233.10 ($US per Troy ounce)
Copper (December 09) shed $0.01, EOD $2.83 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (October 09) shed $0.08, EOD $48.15
Pork Bellies (February 10) gain $0.75, EOD $79.00
Live Cattle (October 09) gain $0.68, EOD $86.78
Feeder Cattle (October 09) gain $1.70, EOD $98.50

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (December 09) no change $0.00, EOD $319.25
Soybeans (November 09) shed $4.50, EOD $951.00

BOND MARKET:
2 year EOD 100 7/32, change 2/32, Yield 0.88, Yield change -0.02
5 year EOD 100 18/32, change 10/32, Yield 2.25, Yield change -0.06
10 year EOD 102 24/32, change 19/32, Yield 3.29, Yield change -0.07                     
30 year EOD 106 22/32, change 1 16/32, Yield 4.10, change -0.09

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