Ben Bernanke

Daily Market Commentary for October 15, 2008 from Millennium-Traders.Com

Federal Reserve Chairman Ben Bernanke warned that credit markets will take time to unfreeze, adding that even if financial markets stabilize, the economy won't recover right away. Bernanke kept the door open to further interest-rate cuts, saying policymakers will keep using "all the tools at our disposal" to restore stability in financial markets. (read more)

Economic data released today:

Empire State Manufacturing Survey:
New York Fed's October Manufacturing Index fell 24.62 versus drop of 7.41 in September; New York Fed October New Orders fell 20.45 versus 4.38 in September; New York Fed October Employment fell 3.66 versus drop of 4.60 in September; New York Fed October Prices Received 20.73 versus 24.14 in September.

Producer Price Index:
U.S. September Producer Prices fell 0.4 percent compared to consensus of a drop of 0.4 percent ; U.S. September PPI Excluding Food & Energy increased by 0.4 percent compared to consensus of an increase by 0.2 percent; U.S. September PPI Intermediate Goods fell 1.2 percent; U.S. September PPI Intermediate Goods Core fell 0.3 percent ; U.S. September PPI Crude Goods fell 7.9 percent; U.S. September PPI Crude Goods Core fell 9.4 percent; U.S. September PPI Energy Prices fell 2.9 percent; U.S. August PPI Unrevised at a drop by 0.9 percent.

Retail Sales:
U.S. September Retail & Food Sales fell 1.2 percent compared to consensus of a drop by 0.7 percent; U.S. September Retail & Food Sales Excluding-Autos fell 0.6 percent; August Retail & Food Sales Revised to a drop by 0.4 percent from a drop by 0.3 percent; U.S. September Passenger Car Prices increased 0.5 percent.

Business Inventories:
U.S. August Business Inventories rose 0.3 percent compared to expectations of an increase by 0.6 percent.

Fed Beige Book:
U.S. economic activity weakened in September; districts more pessimistic about economic outlook; consumer spending decreased; activity in nonfinancial industries reduced; residential real estate remains weak; commercial real estate activity slowed; tight credit conditions across all districts; agriculture, energy reports are positive; inflationary pressures moderated in September; labor market weakened further.

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 733.08 points on the day to end the trading session at 8,577.91
NYSE (New York Stock Exchange) triple digit loss of 620.57 points to end the trading session at 5,759.96
National Association of Securities Dealers Automated Quotations (NASDAQ) triple digit loss of 150.68 points to end the trading session at 1,628.33
S&P 500 loss of 90.17 points to end the trading session at 907.84
FTSE All-World excluding U.S. loss of 12.07 points to end the trading session at 154.74
FTSE RAFI 1000 triple digit loss of 344.52 points to end the trading session at 3,574.31
BEL 20 (BEL20) triple digit loss of 131.28 points to end the trading session at 2,082.59
CAC 40 (CAC40) triple digit loss of 247.45 points to end the trading session at 3,381.07
FTSE100 (UKX100) triple digit loss of 314.62 points to end the trading session at 4,079.59
NIKKEI 225 (NIK/O) gain of 99.90 points to end the trading session at 9,547.47

New York Stock Exchange (NYSE) stock market indicators for the day:
Advanced stock prices 354 declined stock prices 2,909; unchanged stock prices 31; stock prices hitting new highs 1 and stock prices hitting new lows 1.
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: Bally Technologies Incorporated (NYSE: BYI) stock price gained 2.03 points on the trading session, high on the trading session $23.21, low on the trading session $18.70 with a closing stock price at $22.31; Bunge Limited (NYSE: BG) stock price shed 6.57 points on the trading session, high on the trading session $44.39, low on the trading session $38.82 with a closing stock price at $39.03; Transocean Incorporated (NYSE: RIG) stock price shed 16.48 points on the trading session, high on the trading session $81.64, low on the trading session $67.50 with a closing stock price at $68.36; State Street Corporation (NYSE: STT) stock price shed 9.86 points on the trading session, high on the trading session $53.00, low on the trading session $46.53 with a closing stock price at $46.83; Callaway Golf Company (NYSE: ELY) stock price shed 2.39 points on the trading session, high on the trading session $10.40, low on the trading session $9.45 with a closing stock price at $9.48; Ultrashort Financial Corporation (NYSE: SKF) stock price gained 135.50 points on the trading session, high on the trading session $137.19, low on the trading session $119.66 with a closing stock price at $135.50.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators today:
Advanced stock prices 426; declined stock prices 2,490; unchanged stock prices 86; stock prices hitting new highs 3; stock prices hitting new lows 216.
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: Linear Technology Corporation (NasdaqGS: LLTC) stock price shed 3.96 points on the trading session, high on the trading session $56.00, low on the trading session $46.41 with a closing stock price at $47.14; Altera Corporation (NasdaqGS: ALTR) stock price shed 0.48 points on the trading session, high on the trading session $18.26, low on the trading session $16.42 with a closing stock price at $16.63; USANA Health Sciences Incorporated (NasdaqGS: USNA) stock price shed 166 points on the trading session, high on the trading session $44.00, low on the trading session $39.43 with a closing stock price at $40.35; Baidu.com Incorporated (NasdaqGS: BIDU) stock price shed 25.42 points on the trading session, high on the trading session $250.00, low on the trading session $224.03 with a closing stock price at $224.83; Google Incorporated (NasdaqGS: GOOG) stock price shed 29.01 points on the trading session, high on the trading session $359.00, low on the trading session $338.83 with a closing stock price at $333.70.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for today:
Advanced stock prices 266; declined stock prices 921; unchanged stock prices 53; stock prices hitting new highs 1 stock prices hitting new lows n/a.

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 907.50 change -94.75
E-mini NASDAQ-100 (NQ) end of day price 1,235.50, change -130.50
E-mini S&P SmallCap 600 (SMP) end of day price 300.80, change 0.00
$5 DJIA (YM) end of day price 8,585 change -777

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7413 to U.S. Dollars 1.3490
Japanese Yen 99.940 to U.S. Dollars 0.010
British Pound 0.5787 to U.S. Dollars 1.7279
Canadian Dollar 1.1870 to U.S. Dollars 0.8425
Swiss Franc 1.1334 to U.S. Dollars 0.8823

Commodity Markets:
Energy Sector: Light Crude (NYMEX: NYM) shed $4.09 on the day for a closing price of $74.54 a barrel ($US per barrel)
Heating Oil (NYMEX: NYM) shed $0.07 on the day for a closing price of $2.22 a gallon ($US per gallon)
Natural Gas (NYMEX: NYM) shed $0.19 on the day for a closing price of $7.14 per million BTU ($US per mmbtu.)
Unleaded Gas (NYMEX: NYM) shed $0.10 on the day for a closing price of $1.78 a gallon ($US per gallon)

Metals Markets:
Gold Market Price (COMEX: CMX) shed $0.50 on the day for a closing price of $839.00 ($US per Troy ounce)
Silver (COMEX: CMX) shed $0.88 on the day for a closing price of $10.18 ($US per Troy ounce)
Platinum (NYMEX: NYM) shed $68.40 on the day for a closing price of $975.20 ($US per Troy ounce)
Copper (COMEX: CMX) shed $0.18 on the day for a closing price of $2.21 ($US per pound)

Livestock and Meat Markets (cents per lb.):
Lean Hogs (Chicago Mercantile Exchange: CME) shed 0.35 on the day for a closing price of 65.63
Pork Bellies (Chicago Mercantile Exchange: CME) shed 1.70 on the day for a closing price of 84.98
Live Cattle (Chicago Mercantile Exchange: CME) shed 2.53 on the day for a closing price of 90.83
Feeder Cattle (Chicago Mercantile Exchange: CME) shed 1.73 on the day for a closing price of 95.63

Other Commodities (cents per bushel):
Corn (Chicago Board of Trade: CBT) shed 23.25 on the day for a closing price of 388.00
Soybeans (Chicago Board of Trade: CBT) shed 38.00 on the day for a closing price of 858.00

Bond Market:
2 year bond gained 15/32 on the day for a closing price of 100 26/32 with a Yield of 1.56, Yield Change -0.25
5 year bond gained 18/32 on the day for a closing price of 101 2/32 with a Yield of 2.88, Yield Change -0.13
10 year bond gained 27/32 on the day for a closing price of 100 6/32 with a Yield of 3.97, Yield Change -0.10
30 year bond gained 29/32 on the day for a closing price of 104 20/32 with a Yield of 4.22, Yield Change -0.05

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