Thread: House Financial Services Committee

Daily Market Commentary for March 26, 2009

Treasury Secretary Geithner testified in front of the House Financial Services Committee again today reporting that the nation needs stronger regulatory oversight of the financial services industry. (read more at Millennium-Traders.Com)

Economic data released today:

GDP:
U.S. 4Q GDP revised to a drop by 6.3% rate from drop by 6.2%; U.S. 4Q GDP Consensus fell 6.6%; U.S. 4Q Real Final Sales revised to a drop by 6.2% rate from a drop by 6.4%: U.S. 4Q PCE Price Index revised to a drop by 4.9% rate from a drop by 5.0%; U.S. 4Q Purchases Price Index revised to a drop by 3.9% rate from a drop by 4.1%; U.S. 4Q Chain-Weighted Price Index rose 0.5% unrevised from preliminary reading.

Jobless Claims:
U.S. Jobless Claims for week of March 21 rose 8K to 652K compared to survey of an increase by 9K; U.S. Continuing Claims for week of March 14 rose 122K to 5,560,000; U.S. Jobless Claims Revised for week of March 14 to 644K from 646K; U.S. Continuing Claims hit fresh record high.

Corporate Profits:
4Q Corporate Profits fell 28.4% versus drop by 3.2% in 3Q.

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) triple digit gain of 174.75 points to end the trading session at 7,924.56
NYSE (New York Stock Exchange) triple digit gain of 103.53 points to end the trading session at 5,230.53
National Association of Securities Dealers Automated Quotations (NASDAQ) gain of 58.05 points to end the trading session at 1,587
S&P 500 (SPX) gain of 18.98 points to end the trading session at 832.86
BEL 20 (BEL20) gain of 26.20 points to end the trading session at 1,783.16
CAC 40 (CAC40) loss of 1.38 points to end the trading session at 2,892.07
FTSE100 (UKX100) gain of 24.95 points to end the trading session at 3,925.20
NIKKEI 225 (NIK/O) triple digit gain of 156.34 points to end the trading session at 8,636.33

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 2,256, declined stock prices 443, unchanged stock prices 478, stock prices hitting new highs 11 and stock prices hitting new lows 4. 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: Best Buy Company (NYSE: BBY) stock price gained 4.21 points on the trading session, high on the trading session $39.25, low on the trading session $36.79, with a closing stock price at $37.67; GameStop (NYSE: GME) stock price shed 0.63 points on the trading session, high on the trading session $28.45, low on the trading session $25.79, with a closing stock price at $26.21; Denbury Resources (NYSE: DNR) stock price gained 0.02 points on the trading session, high on the trading session $17.52, low on the trading session $15.98, with a closing stock price at $16.25; Raytheon Company (NYSE: RTN) stock price gained 2.87 points on the trading session, high on the trading session $40.16, low on the trading session $38.20, with a closing stock price at $40.10; Red Hat (NYSE: RHT) stock price gained 2.00 points on the trading session, high on the trading session $17.80, low on the trading session $16.40, with a closing stock price at $17.60; Conagra Foods (NYSE: CAG) stock price added 1.43 points on the trading session, high on the trading session $17.06, low on the trading session $15.91, with a closing stock price at $16.99; Nucor (NYSE: NUE) stock price gained 2.01 points on the trading session, high on the trading session $41.45, low on the trading session $39.78, with a closing stock price at $41.09; Boston Properties (NYSE: BXP) stock price gained 0.78 points on the trading session, high on the trading session $38.48, low on the trading session $34.80, with a closing stock price at $37.56; Union Pacific (NYSE: UNP) stock price gained 3.53 points on the trading session, high on the trading session $44.63, low on the trading session $41.01, with a closing stock price at $44.48; ProShares Ultrashort Real Estate (NYSE: SRS) stock price shed 3.10 points on the trading session, high on the trading session $57.50, low on the trading session $50.00, with a closing stock price at $50.38; Devon Energy (NYSE: DVN) stock price shed 1.03 points on the trading session, high on the trading session $51.30, low on the trading session $47.54, with a closing stock price at $48.42; ProShares Ultrashort Financials (NYSE: SKF) stock price shed 2.79 points on the trading session, high on the trading session $97.24, low on the trading session $89.27, with a closing stock price at $90.36; CME Group (NYSE: CME) stock price gained 6.08 points on the trading session, high on the trading session $258.00, low on the trading session $247.40, with a closing stock price at $255.35; Rio Tinto plc (NYSE: RTP) stock price gained 10.73 points on the trading session, high on the trading session $139.86, low on the trading session $134.71, with a closing stock price at $139.22.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 2,265, declined stock prices 535, unchanged stock prices 120, stock prices hitting new highs 24 and stock prices hitting new lows 16. 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: Citi Trends (NasdaqGS: CTRN) stock price gained 4.50 points on the trading session, high on the trading session $22.85, low on the trading session $18.82, with a closing stock price at $20.38; First Solar (NasdaqGS: FSLR) stock price gained 16.01 points on the trading session, high on the trading session $158.49, low on the trading session $135.65, with a closing stock price at $150.00; Baidu.com (NasdaqGS: BIDU) stock price gained 2.70 points on the trading session, high on the trading session $192.26, low on the trading session $185.10, with a closing stock price at $186.50.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 358, declined stock prices 163, unchanged stock prices 106, stock prices hitting new highs 3 and stock prices hitting new lows 9.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) June 09: End of trading session price 827.25; Change for the trading session 19
E-mini NASDAQ-100 (NQ) June 09: End of trading session price 1,273.50; Change for the trading session 40
E-mini DOW $5 (YM) June 09: End of trading session price 7,846; Change for the trading session 166
E-mini S&P MidCap 400 (MF) June 09: End of trading session price 509.40; Change for the trading session 20.80

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7404 to U.S. Dollars 1.3506
Japanese Yen 98.78 to U.S. Dollars 0.0101
British Pound 0.6930 to U.S. Dollars 1.4431
Canadian Dollar 1.2289 to U.S. Dollars 0.8137
Swiss Franc 1.1283 to U.S. Dollars 0.8863

COMMODITY MARKETS:

Energy Sector - Nymex:
Light Crude (May 09) gained $1.57 on the trading session for a closing price of $54.34 per barrel ($US per barrel)
Heating Oil (May 09) gained $0.01 on the trading session for a closing price of $1.49 a gallon ($US per gallon)
Natural Gas (May 09) shed $0.38 on the trading session for a closing price of $4.03 per million BTU ($US per mmbtu.)
Unleaded Gas (April 09) gained $0.04 on the trading session for a closing price of $1.53 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (April 09) gained $4.20 on the trading session for a closing price of $942.20 ($US per Troy ounce)
Silver (May 09) gained $0.18 on the trading session for a closing price of $13.62 ($US per Troy ounce)
Platinum (July 09) gained $26.90 on the trading session for a closing price of $1,155 ($US per Troy ounce)
Copper (May 09) gained $0.05 on the trading session for a closing price of $1.86 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (June 09) shed 0.95 on the trading session for a closing price of 71.78
Pork Bellies (May 09) shed 3.00 on the trading session for a closing price of 85.00
Live Cattle (June 09) shed 0.63 on the trading session for a closing price of 81.85
Feeder Cattle (May 09) shed 0.43 on the trading session for a closing price of 94.95

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (May 09) gained 5.00 on the trading session for a closing price of 390.75
Soybeans (May 09) shed 16.00 on the trading session for a closing price of 944.00

BOND MARKET:
2 year Bond Closing price 99 30/32, change 3/32, Yield 0.90, Yield change -0.01
5 year Bond closing price of 99 25/32, change -16/32, Yield 1.79, Yield change -0.02
10 year Bond closing price 100 2/32, change 14/32, Yield 2.74, Yield change -0.05
30 year Bond closing price 97 8/32, change 1 19/32, Yield 3.65, Yield change -0.09

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