Job Losses

Daily Market Commentary for May 8, 2009

Surprisingly, unemployment rate or job losses hit a new 26 year high and, we saw the markets move higher on the news. (read more at Millennium-Traders.Com)

Economic data released today:

Employment Situation:
U.S. April Nonfarm Payrolls fell 539K compared to consensus of a drop by 610K; U.S. April Unemployment Rate 8.9% inline with consensus 8.9%; U.S. April Average Hourly Earnings increased by $0.01 to $18.51; U.S. April Manufacturing Payrolls fell 149K; U.S. April Service Producing Payrolls lower by 269K; U.S. April Overall Workweek no change in hours to 33.2 Hours; U.S. March Payrolls Revised to a drop by 699K from a drop by 663K; U.S. March Unemployment Left Unrevised at 8.5%; U.S. Unemployment Rate Highest Since Sept 1983; U.S. Government Payrolls up 72K mainly due to Census hiring.

Wholesale Trade:
U.S. March Wholesale Inventories down 1.6% compared to expectations of a drop by 1.2%.

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 164.80 points, EOD 8,574.65
NYSE (New York Stock Exchange) triple digit gain 200.30 points, EOD 6,000.39
National Association of Securities Dealers Automated Quotations (NASDAQ) gain 22.76 points, EOD 1,739
S&P 500 (SPX) gain 21.84 points, EOD 929.23
BEL 20 (BEL20) gain 52.69 points, EOD 2,126.23
CAC 40 (CAC40) gain 61.07 points, EOD 3,3120.59
FTSE100 (UKX100) gain 63.41 points, EOD 4,462.09
NIKKEI 225 (NIK/O) gain 47.13 points, EOD 9,432.83

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 2,333, declined stock prices 364, unchanged stock prices 485, stock prices hitting new highs 11 and stock prices hitting new lows 11. 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: MS: gain 1.06 points, HOD $28.20, LOD $24.73, EOD $28.20; INT: gain 3.12 points, HOD $43, LOD $38, EOD $41.90; GS: gain 5.86 points, HOD $139.59, LOD $133.15, EOD $139.59; COF: gain 4.89 points, HOD $31.80, LOD $25.96, EOD $31.34; RIG: gain 2.52 points, HOD $76.15, LOD $73.38, EOD $75.43; CME: gain 13.38 points, HOD $249.08, LOD $236.85, EOD $248.35; PCR: gain 4.78 points, HOD $23.77, LOD $20.59, EOD $23.70; ALL: shed 1.48 points, HOD $26.91, LOD $24.10, EOD $26.12; ICE: gain 2.12 points, HOD $98.39, LOD $95.50, EOD $97.28.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 2,116, declined stock prices 705 unchanged stock prices 105, stock prices hitting new highs 29 and stock prices hitting new lows 8. 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: THOR: gain 0.50 points, HOD $31.20, LOD $29.93, EOD $30.09; LMNX: shed 1.46 points, HOD $15.75, LOD $14.32, EOD $15.63; BIDU: shed 1.00 point, HOD $251.99, LOD $237.63, EOD $246; FSLR: shed 5.05 points, HOD $199, LOD $187, EOD $190; KSWS: shed 0.70 points, HOD $9.37, LOD $8.64, EOD $8.91; LEAP: gain 3.54 points, HOD $38.90, LOD $35.81, EOD $38.49.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 364, declined stock prices 158, unchanged stock prices 83, stock prices hitting new highs 5 and stock prices hitting new lows n/a.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) June 09: EOD 924.50; Change -0.25
E-mini NASDAQ-100 (NQ) June 09: EOD 1,388.25; Change -1.25
E-mini DOW $5 (YM) June 09: EOD 8,514; Change -2
E-mini S&P MidCap 400 (MF) June 09: EOD 583.50; Change 0.20
Nikkei 225 (Yen) June 09; EOD 9,510; Change -5

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7335 to U.S. Dollars 1.3634
Japanese Yen 98.45 to U.S. Dollars 0.0102
British Pound 0.6565 to U.S. Dollars 1.5232
Canadian Dollar 1.1496 to U.S. Dollars 0.8699
Swiss Franc 1.1057 to U.S. Dollars 0.9044

COMMODITY MARKETS:

Energy Sector - Nymex:
Light Crude (June 09) gain $1.92, EOD $58.63 per barrel ($US per barrel)
Heating Oil (June 09) gain $0.03, EOD $1.52 a gallon ($US per gallon)
Natural Gas (June 09) gain $0.23, EOD $4.31 per million BTU ($US per mmbtu.)
Unleaded Gas (May 09) gain $0.04, EOD $1.71 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (June 09) shed $0.60, EOD $914.90 ($US per Troy ounce)
Silver (July 09) shed $0.32, EOD $13.96 ($US per Troy ounce)
Platinum (July 09) shed $14.20, EOD $1,147.10 ($US per Troy ounce)
Copper (July 09) shed $0.02, EOD $2.15 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (June 09) gain 1.43, EOD 68.20
Pork Bellies (July 09) gain 1.60, EOD 80
Live Cattle (June 09) gain 0.95, EOD 82.98
Feeder Cattle (August 09) gain 1.58, EOD 100.70

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (July 09) gain 9, EOD 421
Soybeans (July 09) gain 9.50, EOD 1,111.50

BOND MARKET:

2 year EOD 99 25/32, change 1/32, Yield 0.97, Yield change -0.03
5 year EOD 98 24/32, change 5/32, Yield 2.14, Yield change -0.03
10 year EOD 98 19/32, change 12/32, Yield 3.28, Yield change -0.05
30 year EOD 99 20/32, change 8 41664/32, Yield 4.27, change -0.03

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

Stocks Trading Room:
Jeannie $5,224
Barry $9,950
Sam off
Scott $3,059

Futures Trading Room:
JT $6,095
Marco $2,965

Forex Trading Room:
JT $13,450

Daily Swing Trades:
Barry $12,090

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