Daily Market Commentary for December 22, 2010

GDP Report

Things were quiet on Wall Street this morning after the Commerce Department's GDP report. (Read more at Millennium-Traders.Com)

Economic data released today:

MBA Mortgage Applications:
U.S. Mortgage Application Volume Plunged Last Week on Refinance Slump; U.S. MBA Refinance Index fell 24.6% at 2,196.1; Last Week 2,910.9; U.S. MBA Purchase Index fell 2.5% at 195.3; Last Week 200.3; U.S. MBA Market Index fell 18.6% at 479.9; Last Week 589.7.

GDP (QoQ):
3Q Core PCE Price Index Lowest Since Records Began in 1959; 3Q Revised Corporate Profits rose 2.4% versus Original forecasts of 3.2%; 3Q Corporate Profits rose 2.4% versus an increase by 0.9% in 2Q; 3Q Final Chain-Weighted Price Index rose 2.1% versus Preliminary forecasts of an increase by 2.3%; 3Q Final Purchases Price Index rose 0.7% versus Preliminary forecasts of an increase by 0.8%; 3Q Final Core PCE Price Index rose 0.5% versus Preliminary forecasts of an increase by 0.8%; 3Q Final PCE Price Index rose 0.8% versus Preliminary forecasts of an increase by 1.0%; 3Q Final Real Final Sales rose 0.9% versus Preliminary forecasts of an increase by 1.2%; U.S. 3Q GDP Consensus rose 2.9%; U.S. 3Q Final GDP rose 2.6% versus Preliminary GDP forecasts of an increase by 2.5%.

Existing Home Sales:
U.S. November Median Existing Home Price rose 0.4% on Year to $170,600; U.S. Inventory of Unsold U.S. Homes at 9.5 Months Supply; U.S. November Existing Home Sales Consensus 4.72M Rate; U.S. November Existing Home Sales rose 5.6% to 4.68M Rate.

Crude Oil Inventories as reported by DOE:
U.S. Refineries Ran at 87.7% capacity; was seen at 87.80% capacity; U.S. Refineries Ran at 87.7% capacity versus 88.0% capacity a Week Ago; U.S. Distillate Stockpiles fell 0.589 Million Barrels in Week; was seen decreasing by 0.6 Million Barrels; U.S. Distillate Stockpiles fell 0.589 Million Barrels at 160.716 Million Barrels; U.S. Gasoline Stockpiles rose 2.4 Million Barrels in Week; was seen increasing by 0.9 Million Barrels; U.S. Gasoline Stockpiles rose 2.4 Million Barrels at 217.173 Million Barrels; U.S. Crude Oil Stockpiles fell 5.333 Million Barrels in Week; was seen decreasing by 2.3 Million Barrels; U.S. Crude Oil Stockpiles fell 5.333 Million Barrels at 340.685 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 27.47 points, EOD 11,560.63
NYSE (New York Stock Exchange) gain 22.31, EOD 7,928.41
National Association of Securities Dealers Automated Quotations (NASDAQ) gain 4.06 points, EOD 2,671.67
S&P 500 (SPX) gain 4.3 points, EOD 1,258.90
BEL 20 (BEL20) gain 0.42 points, EOD 2,631.43
CAC 40 (CAC40) shed 7.78 points, EOD 3,919.71
FTSE100 (UKX100) gain 31.69 points, EOD 5,983.49
NIKKEI 225 (NIK/O) shed 24.05 points, EOD 10,346.48

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 1,909, declined stock prices 1,165, unchanged stock prices 98, stock prices hitting new highs 214 and stock prices hitting new lows 15. 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: NKE shed 5.38, HOD 88.25, LOD 86.60, EOD 86.92; LVS shed 1.44, HOD 47.41, LOD 45.41, EOD 45.96; WAG gain 2.09, HOD 40.20, LOD 38.88, EOD 38.92; CRM shed 3.42, HOD 138.80, LOD 135.25, EOD 135.60; MIM gain 8.56, HOD 30.77, LOD 21.10, EOD 27.65.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,419, declined stock prices 1,268, unchanged stock prices 130, stock prices hitting new highs 210 and stock prices hitting new lows 28. 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: SOLR gain 0.47, HOD 9.03, LOD 8.51, EOD 9.01; NFLX shed 0.90, HOD 189.76, LOD 184.60, EOD 185.35; ITMN gain 2.55, HOD 36.75, LOD 33.75, EOD 36.34.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 274, declined stock prices 209, unchanged stock prices 34, stock prices hitting new highs 14 and stock prices hitting new lows 16.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Mar 10: EOD 1253.00; Change 2.25
E-mini NASDAQ-100 (NQ) Mar 10: EOD 2,234.25; Change -1.00
E-mini DOW $5 (YM) Mar 10: EOD 11,492; Change 21
Nikkei 225 (Yen) Mar 10: EOD 10,350; Change -30

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7638 to U.S. Dollars 1.3100
Japanese Yen 83.5650 to U.S. Dollars 0.012
British Pound 0.6503 to U.S. Dollars 1.54
Canadian Dollar 1.0138 to U.S. Dollars 0.9862
Swiss Franc 0.9526 to U.S. Dollars 1.05

COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (February 11) gain $0.66, EOD $90.48 per barrel ($US per barrel)
Heating Oil (January 11) gain $0.01, EOD $2.53 a gallon ($US per gallon)
Natural Gas (January 11) gain $0.00, EOD $4.10 per million BTU ($US per mmbtu.)
Unleaded Gas (January 11) gain $0.02, EOD $2.42 gallon ($US per gallon)

Metals Markets - Comex:
Gold (February 11) shed $1.40, EOD $1,387.40 ($US per Troy ounce)
Silver (March 11) shed $0.00, EOD $29.38 ($US per Troy ounce)
Platinum (January 11) gain $9.00, EOD $1,730.90 ($US per Troy ounce)
Copper (March 11) shed $0.00, EOD $4.28 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (February 11) gain $2.90, EOD $78.88
Pork Bellies (February 11) unchanged, EOD $106.00
Live Cattle (February 11) gain $1.77, EOD $107.58
Feeder Cattle (March 11) gain $0.65, EOD $123.62

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (March 11) gain $6.75, EOD $609.00
Soybeans (March 11) gain $2.25, EOD $1,339.75

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