Bail Out Plan

Daily Market Commentary for October 2, 2008 from Millennium-Traders.Com

For those of you who have not already read the terms of the Rescue Plan, you may access the Congressional Bailout Bill by (clicking here)

Economic data released today:

Jobless Claims:
U.S. Jobless Claims increased by 1K to 497K for week of September 27 compared to survey of a drop by 18K; U.S. Continuing Claims for week of September 20 increased by 48K to 3,591,000; U.S. Jobless Claims for week of September 20 Revised to 496K from 493K; Labor Department stated that Hurricanes Ike as well as Gustav that they added 45K to unadjusted claims; U.S. Jobless Claims were highest since September 2001.

Factory Orders:
US Factory Orders fell by 4.0 percent in August compared to consensus of a drop by 3.0 percent; August Factory Orders, Excluding Transportation fell by 3.3 percent; August Factory Orders, Excluding Defense fell 4.2 percent.

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 session on the world market as well as the emerging markets including the stock market closing bell price:
DOW (Dow Jones Industrial Average) triple digit loss of 348.22 points on the day to end the trading session at 10,482.85
NYSE (New York Stock Exchange) triple digit loss of 364.24 points to end the trading session at 7,155.71
National Association of Securities Dealers Automated Quotations (NASDAQ) loss of 92.68 points to end the trading session at 1,976.72
S&P 500 loss of 46.78 points to end the trading session at 1,114.28
FTSE All-World excluding U.S. loss of 6.62 points to end the trading session at 186.68
FTSE RAFI 1000 triple digit loss of 177.25 points to end the trading session at 4,467.42
BEL 20 (BEL20) gain of 24.6 points to end the trading session at 2,741.08
CAC 40 (CAC40) loss of 91.26 points to end the trading session at 3,963.28
FTSE100 (UKX100) loss of 89.25 points to end the trading session at 4,870.34
NIKKEI 225 (NIK/O) triple digit loss of 213.5 points to end the trading session at 11,154.76

New York Stock Exchange (NYSE) stock market indicators for the day:
Advanced stock prices 495 declined stock prices 2,729; unchanged stock prices 51; stock prices hitting new highs 5 and stock prices hitting new lows 531.
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: Devon Energy Corporation (NYSE: DVN) stock price shed 6.44 points on the trading session, high on the trading session $88.38, low on the trading session $82.52 with a closing stock price at $83.10; Rio Tinto (NYSE: RTP) stock price shed 35.49 points on the trading session, high on the trading session $240.83, low on the trading session $218.75 with a closing stock price at $218.75; Walter Industries Incorporated (NYSE: WLT) stock price shed 9.81 points on the trading session, high on the trading session $44.75, low on the trading session $35.01 with a closing stock price at $35.50; Massey Energy Company (NYSE: MEE) stock price shed 6.54 points on the trading session, high on the trading session $33.00, low on the trading session $27.00 with a closing stock price at $27.33; Con-way Incorporated (NYSE: CNW) stock price shed 8.78 points on the trading session, high on the trading session $38.73, low on the trading session $33.22 with a closing stock price at $34.16; CF Industries Holdings Incorporated (NYSE: CF) stock price shed 30.64 points on the trading session, high on the trading session $78.31, low on the trading session $54.12 with a closing stock price at $58.00; Mosaic Company (NYSE: MOS) stock price shed 27.86 points on the trading session, high on the trading session $52.59, low on the trading session $39.41 with a closing stock price at $39.65; Weingarten Realty Investors (NYSE: WRI) stock price shed 2.74 points on the trading session, high on the trading session $33.95, low on the trading session $32.29 with a closing stock price at $32.34; Agrium Incorporated (NYSE: AGU) stock price shed 13.29 points on the trading session, high on the trading session $48.28, low on the trading session $40.75 with a closing stock price at $41.61; Murphy Oil Corporation (NYSE: MUR) stock price shed 7.88 points on the trading session, high on the trading session $60.18, low on the trading session $52.37 with a closing stock price at $53.35; MasterCard Incorporated (NYSE: MA) stock price shed 11.21 points on the trading session, high on the trading session $169.79, low on the trading session $157.59 with a closing stock price at $160.13; Monsanto Company (NYSE: MON) stock price shed 14.34 points on the trading session, high on the trading session $87.30, low on the trading session $77.10 with a closing stock price at $83.50.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators today:
Advanced stock prices 557; declined stock prices 2,390; unchanged stock prices 85; stock prices hitting new highs 4; stock prices hitting new lows 381.
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: Agilysys Incorporated (NasdaqGS: AGYS) stock price shed 2.30 points on the trading session, high on the trading session $9.57, low on the trading session $5.82 with a closing stock price at $7.17; Immucor Incorporated (NasdaqGS: BLUD) stock price shed 1.62 points on the trading session, high on the trading session $33.80, low on the trading session $30.24 with a closing stock price at $30.45; ***** Incorporated (NasdaqGS: AAPL) stock price shed 8.07 points on the trading session, high on the trading session $108.79, low on the trading session $100.00 with a closing stock price at $101.05.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for today:
Advanced stock prices 256; declined stock prices 930; unchanged stock prices 60; stock prices hitting new highs 18; stock prices hitting new lows 241.

Chicago Board of Trade Futures Market activity for the day, at time of this posting for December 2008 Contracts:
E-mini S&P 500 (ES) end of day price 1,125.00 change 0.50
E-mini NASDAQ-100 (NQ) end of day price 1,508.25, change -2.25
E-mini S&P SmallCap 600 (SMP) end of day price 341.80, change 0.00
$5 DJIA (YM) end of day price 10,559 change 2

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7239 to U.S. Dollars 1.3815
Japanese Yen 105.19 to U.S. Dollars 0.0094
British Pound 0.5675 to U.S. Dollars 1.7621
Canadian Dollar 1.0762 to U.S. Dollars 0.9292
Swiss Franc 1.1358 to U.S. Dollars 0.8804

Commodity Markets:
Energy Sector: Light Crude (NYMEX: NYM) shed $4.56 on the day for a closing price of $93.97 a barrel ($US per barrel)
Heating Oil (NYMEX: NYM) shed $0.14 on the day for a closing price of $2.71 a gallon ($US per gallon)
Natural Gas (NYMEX: NYM) shed $0.25 on the day for a closing price of $7.48 per million BTU ($US per mmbtu.)
Unleaded Gas (NYMEX: NYM) shed $0.11 on the day for a closing price of $2.26 a gallon ($US per gallon)

Metals Markets:
Gold Market Price (COMEX: CMX) shed $43.00 on the day for a closing price of $844.30 ($US per Troy ounce)
Silver (COMEX: CMX) shed $1.65 on the day for a closing price of $11.12 ($US per Troy ounce)
Platinum (NYMEX: NYM) shed $56.50 on the day for a closing price of $986.60 ($US per Troy ounce)
Copper (COMEX: CMX) shed $0.16 on the day for a closing price of $2.63 ($US per pound)

Livestock and Meat Markets (cents per lb.):
Lean Hogs (Chicago Mercantile Exchange: CME) shed 1.78 on the day for a closing price of 65.95
Pork Bellies (Chicago Mercantile Exchange: CME) shed 0.20 on the day for a closing price of 91.95
Live Cattle (Chicago Mercantile Exchange: CME) shed 2.40 on the day for a closing price of 98.8
Feeder Cattle (Chicago Mercantile Exchange: CME) shed 3.00 on the day for a closing price of 100.60

Other Commodities (cents per bushel):
Corn (Chicago Board of Trade: CBT) shed 30.00 on the day for a closing price of 484.00
Soybeans (Chicago Board of Trade: CBT) shed 49.00 on the day for a closing price of 1,004.00

Bond Market:
2 year bond gained 13/32 on the day for a closing price of 100 22/32 with a Yield of 1.63, Yield Change -0.21
5 year bond gained 30/32 on the day for a closing price of 102 2/32 with a Yield of 2.67, Yield Change -0.20
10 year bond gained 25/32 on the day for a closing price of 102 28/32 with a Yield of 3.64, Yield Change -0.10
30 year bond gained 27/32 on the day for a closing price of 105 20/32 with a Yield of 4.16, Yield Change -0.15

Thanks for reading
Millennium-Traders.Com

Financial-market wise guys, who had been seized with fear, are suddenly drunk with hope. They are rallying explosively because they think they have successfully stampeded Washington into accepting the Wall Street Journal solution to the crisis: dump it all on the taxpayers. That is the meaning of the massive bailout Treasury Secretary Henry Paulson has shopped around Congress. It would relieve the major banks and investment firms of their mountainous rotten assets and make the public swallow their losses--many hundreds of billions, maybe much more. What's not to like if you are a financial titan threatened with extinction?

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