Unemployment

Daily Market Commentary for March 6, 2009

With the unemployment rate striking a 25 year high with 14 consecutive months of job losses, try as we might, it's hard to find any good news out there. (read more at Millennium-Traders.Com)

Economic data released today:

Employment Situation:
U.S. February Nonfarm Payrolls -651K compared to consensus of -652K; U.S. February Unemployment Rate 8.1% compared to consensus of 8.0%; U.S. February Average Hourly Earnings increased by $0.03 to $18.47; U.S. February Manufacturing Payrolls -168K; U.S. February Service-Producing Payrolls -375K; U.S. February Overall Workweek 0.0 Hour at 33.3 Hours; U.S. January Payrolls Revised to -655K from -598K; U.S. January Unemployment Left Unrevised at 7.6%; U.S. Has Lost 4.4M Jobs since Recession began; U.S. Lost 681K Jobs in December 2008 which is most Jobs Lose since October 1949; U.S. Jobless Rate Highest since December 1983.

Consumer Credit:
U.S. January Consumer Credit Increased $0.8B; U.S. December Consumer Credit Revised to down $3.5B from down $6.6B; U.S. January Consumer Credit Increased $1.76B; U.S. December Consumer Credit Revised to down $3.5B from down $6.6B; U.S. January Consumer Credit Increased $1.76B; U.S. December Consumer Credit Revised to down $7.5B from down $6.6B.

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 of 32.50 points to end the trading session at 6,626.94
NYSE (New York Stock Exchange) gain of 16.88 points to end the trading session at 4,284.48
National Association of Securities Dealers Automated Quotations (NASDAQ) loss of 5.74 points to end the trading session at 1,293.85
S&P 500 (SPX) gain of 0.83 points to end the trading session at 683.38
BEL 20 (BEL20) loss of 24.01 points to end the trading session at 1,528.17
CAC 40 (CAC40) loss of 28.60 points to end the trading session at 2,541.03
FTSE100 (UKX100) loss of 3.43 points to end the trading session at 3,526.43
NIKKEI 225 (NIK/O) triple digit loss of 260.39 points at the end the trading session at 7,173.1

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 1,134, declined stock prices 1,960, unchanged stock prices 110, stock prices hitting new highs 5 and stock prices hitting new lows 828. 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: Wells Fargo & Company (NYSE: WFC) stock price gained 0.49 points on the trading session, high on the trading session $9.49, low on the trading session $8.01, with a closing stock price at $8.61; Deere & Company (NYSE: DE) stock price gained 0.19 points on the trading session, high on the trading session $26.70, low on the trading session $24.62, with a closing stock price at $25.51; Emergent BioSolutions (NYSE: EBS) stock price gained 2.43 points on the trading session, high on the trading session $20.01, low on the trading session $17.76, with a closing stock price at $19.91; Intrepid Potash (NYSE: IPI) stock price shed 2.55 points on the trading session, high on the trading session $17.69, low on the trading session $13.99, with a closing stock price at $14.49; Rio Tinto plc (NYSE: RTP) stock price gained 5.51 points on the trading session, high on the trading session $106.38, low on the trading session $99.24, with a closing stock price at $102.45; PNC Financial Services (NYSE: PNC) stock price shed 1.49 points on the trading session, high on the trading session $21.05, low on the trading session $16.20, with a closing stock price at $18.51; ProShares Ultrashort Financials (NYSE: SKF) stock price gained 7.22 points on the trading session, high on the trading session $268.00, low on the trading session $227.47, with a closing stock price at $250.07; AutoZone Incorporated (NYSE: AZO) stock price gained 0.31 points on the trading session, high on the trading session $154.00, low on the trading session $147.84 with a closing stock price at $152.76; CME Group (NYSE: CME) stock price gained 0.02 points on the trading session, high on the trading session $184.92, low on the trading session $176.11, with a closing stock price at $182.75; Direxion Financial Bear 3X (NYSE: FAZ) stock price gained 4.57 points on the trading session, high on the trading session $115.50, low on the trading session $90.55, with a closing stock price at $104.07; Potash (NYSE: POT) stock price shed 3.18 points on the trading session, high on the trading session $71.59, low on the trading session $64.54, with a closing stock price at $66.31; Mosaic (NYSE: MOS) stock price shed 0.93 points on the trading session, high on the trading session $41.57, low on the trading session $37.78, with a closing stock price at $39.16.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,353, declined stock prices 1,434, unchanged stock prices 172, stock prices hitting new highs 1 and stock prices hitting new lows 612. 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: Baidu (NasdaqGS: BIDU) stock price shed 4.41 points on the trading session, high on the trading session $163.60, low on the trading session $151.10, with a closing stock price at $157.10.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 223, declined stock prices 357, unchanged stock prices 74, stock prices hitting new highs 4 and stock prices hitting new lows 53.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Mar 09: End of trading session price 685.75; Change for the trading session -0.25
E-mini NASDAQ-100 (NQ) Mar 09: End of trading session price 1,072.25; Change for the trading session -10.75
E-mini DOW $5 (YM) Mar 09: End of trading session price 6,663; Change for the trading session 40
E-mini S&P MidCap 400 (MF) Mar 09: End of trading session price 410.60; Change for the trading session -1.80
E-mini S&P Small Cap 600 (HS) Mar 09: End of trading session price 7,140; Change for the trading session -65

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7912 to U.S. Dollars 1.2639
Japanese Yen 98.390 to U.S. Dollars 0.0102
British Pound 0.7103 to U.S. Dollars 1.4078
Canadian Dollar 1.2875 to U.S. Dollars 0.7767
Swiss Franc 1.1606 to U.S. Dollars 0.8616

COMMODITY MARKETS:

Energy Sector - Nymex:
Light Crude (April 09) gained $1.91 on the trading session for a closing price of $45.52 per barrel ($US per barrel)
Heating Oil (April 09) gained $0.07 on the trading session for a closing price of $1.23 a gallon ($US per gallon)
Natural Gas (April 09) shed $0.14 on the trading session for a closing price of $3.95 per million BTU ($US per mmbtu.)
Unleaded Gas (March 09) gained $0.02 on the trading session for a closing price of $1.33 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (April 09) gained $14.90 on the trading session for a closing price of $942.70 ($US per Troy ounce)
Silver (May 09) gained $0.21 on the trading session for a closing price of $13.33 ($US per Troy ounce)
Platinum (April 09) gained $14.10 on the trading session for a closing price of $1,076.40 ($US per Troy ounce)
Copper (May 09) shed $0.04 on the trading session for a closing price of $1.69 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (April 09) gained 0.08 on the trading session for a closing price of 62.50
Pork Bellies (May 09) gained 0.30 on the trading session for a closing price of 83.20
Live Cattle (April 09) shed 1.45 on the trading session for a closing price of 82.45
Feeder Cattle (April 09) shed 2.20 on the trading session for a closing price of 90.63

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (May 09) gained 3.00 on the trading session for a closing price of 361.50
Soybeans (May 09) gained 15.00 on the trading session for a closing price of 867.00

BOND MARKET:
2 year Bond Closing price 99 27/32, change -4/32, Yield 0.94, Yield change 0.05
5 year Bond closing price of 99 31/32, change -13/32, Yield 1.87, Yield change 0.08
10 year Bond closing price 98 29/32, change -17/32, Yield 2.87, Yield change 0.06
30 year Bond closing price 99 30/32, change -10/32, Yield 3.50, Yield change 0.02

At the close of the week, performance results for our Moderators:

Stocks Trading Room:
Jeannie $6,003
Barry $17,750
Sam $4,480
Scott $3,674

Futures Trading Room:
JT $5,777.50
James $1,300
Marco $95.00

Forex Trading Room:
JT $21,750

Daily Swing Trades:
Barry $4,810

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