China

Daily Market Commentary for January 13, 2010

China

Google announced Tuesday they may end their operations in China, due to a cyber attack. (Read more at Millennium-Traders.Com)

Economic data released today:

MBA Mortgage Applications:
U.S. MBA Purchase Index rose 0.8% at 213.7; compared to last week 212.1; U.S. MBA Market Index rose 14.3% at 528.1; compared to last week 462.2; U.S. MBA Refinance Index rose 21.8% at 2407.2; compared to last week 1976.9.

Crude Oil Inventories as released by Department of Energy [DOE]:
U.S. Crude Oil Stockpiles rose 3.699 Million Barrels at 331.036 Million Barrels; U.S. Crude Oil Stockpiles rose 3.699 Million Barrels in week; was seen increasing by 1 Million Barrels; U.S. Gasoline Stockpiles rose 3.791 Million Barrels at 223.492 Million Barrels; U.S. Gasoline Stockpiles rose 3.791 Million Barrels in week; was seen increasing by 1 Million Barrels; U.S. Distillate Stockpiles rose 1.353 Million Barrels at 160.401 Million Barrels; U.S. Distillate Stockpiles rose 1.353 Million Barrels in week; was seen decreasing by 1.8 Million Barrels; U.S. Refineries Ran at 81.3% capacity versus 79.9% week ago; U.S. Refineries Ran at 81.3% capacity; was seen 80.00%.

Fed's Beige Book:
Economic activity low, but improving slightly; '09 holiday spending above '08, but well below '07; labor markets remain weak despite some hiring; commercial real estate weak in nearly all 12 districts; credit quality still worsening since last report; price pressures subdued in nearly all districts; economic improvements are broader geographically:

Atlanta - Economic activity has improved along with holiday sales, which surpassed expectations. Existing home sales rose, but new home sales and construction remained weak.

Boston - Economic forecasts was described as "cautious," The Fed said they are planning for modest increases in pay for the year 2010. Employment is starting to improve slightly, manufacturing still remains weak. Revenue in the Manufacturing sector are mostly below levels of a year-ago.

Chicago - Economic activity rose and is expected to keep rising at a moderate pace. Consumer spending also rose, construction however
remained weak. Commercial real estate conditions continued to fall as residential real estate activity picked up.

Cleveland - Economic activity was slow but improving. Manufacturers reported growth opportunities in offshore markets. Construction for non-residential builders increased along with new home construction. Financing remains tight for residential and commercial contractors.

Dallas – Economic activity improved, there was an improved outlook for 2010 brighter, they are expecting a slow recovery. Employment seemed to be leveling out.

Kansas City - Economy activity expanded, however bad weather held holiday shoppers back this year not helping retailers. There was moderate growth in the manufacturing sector. Residential real estate saw a slight increase in sales but then fell, commercial construction continues to remain weak.

Minneapolis – Economic activity was described as "Tepid". Labor markets remained weak, but the pace of job losses slowed. Central Montana saw slight retail activity on the day after Christmas and sales were up in North Dakota.

New York - Economic activity is continuing to improve in the “Big *****”. Demand for home mortgage loans continues to rise, even though there has been a decrease in demand for other loans. Credit standards have tightened and loan spreads are widening for all categories except residential mortgages.

Philadelphia - Economic conditions remain mixed but are expected to improve slowly during the first half of 2010. There was a decline in loan volumes; however manufacturers reported modest increases in shipments and new orders.

Richmond – Economic activity shrunk for this district. Retailers said their revenues continued to fall. Manufacturing also fell in December. Banking activity rose along with the increase in equipment loans. Port activity rose at the area's ports, increasing business.

San Francisco - Economic activity saw a slight increase. Retail sales were up this season from last year. Commercial real estate saw a decreased demand as other parts of the housing market seemed stable. Unemployment still remains high.

St. Louis - Economic conditions continued to improve, due to an increased
strength in the service sector. Consumer spending was stronger this holiday season; sales were higher than last year. Residential real estate saw some improvement, however commercial real estate was weak. Lending is still down.

Federal Budget Balance:
U.S. Government Posted $91.85 billion Total Budget Deficit in December; U.S. Government Deficit for year 2010 to Date $388.51 billion.

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 56.53 points, EOD 10,683.79
NYSE (New York Stock Exchange) gain 59.60, EOD 7,430.14
National Association of Securities Dealers Automated Quotations (NASDAQ) gain 25.98 points, EOD 2,308.29
S&P 500 (SPX) gain 9.54 points, EOD 1,145.76
BEL 20 (BEL20) gain 0.96 points, EOD 2,591.64
CAC 40 (CAC40) gain 20.34 points, EOD 4,045.14
FTSE100 (UKX100) shed 25.23 points, EOD 5,473.48
NIKKEI 225 (NIK/O) gain 29.29 points, EOD 10,796.64

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 2,257 declined stock prices 860, unchanged stock prices 77, stock prices hitting new highs 210 and stock prices hitting new lows 2. 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: FAS gain 2.68, HOD 85.13, LOD 80.12, EOD 84.26; CME gain 1.06, HOD 344.49, LOD 334.51, EOD 343.23; IOC shed 3.34, HOD 78.89, LOD 73.04, EOD 74.49; CVD gain 2.61, HOD 60.54, LOD 55.82, EOD 58.50; SVU gain 0.19, HOD 14.04, LOD 13.42, EOD 13.86; FUL shed 0.06, HOD 24.66, LOD 22.76, EOD 22.98; EPB shed 1.05, HOD 24.54, LOD 24.36, EOD 24.45.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,836, declined stock prices 882, unchanged stock prices 128, stock prices hitting new highs 125 and stock prices hitting new lows 10. 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: BIDU gain 52.99, HOD 442.30, LOD 424.97, EOD 439.48; TQNT gain 0.40, HOD 6.49, LOD 6.02, EOD 6.22; SOHU gain 0.77, HOD 61.00, LOD 58.50, EOD 58.90; GOOG shed 3.39, HOD 588.38, LOD 573.90, EOD 587.09; AAPL gain 2.93, HOD 210.93, LOD 204.10, EOD 210.65; PCLN gain 0.32, HOD 215.92, LOD 207.76, EOD 214.30; ISRG gain 1.65, HOD 308.17, LOD 301.29, EOD 301.29; ENOC gain 2.60, HOD 36.85, LOD 33.71, EOD 36.29; XRTX gain 1.79, HOD 17.15, LOD 15.00, EOD 17.04.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 295, declined stock prices 209, unchanged stock prices 42, stock prices hitting new highs 23 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) Mar 10: EOD 1142.50; Change 8.50
E-mini NASDAQ-100 (NQ) Mar 10: EOD 1,883.75; Change 18.25
E-mini DOW $5 (YM) Mar 10: EOD 10,631; Change 43
E-mini S&P MidCap 400 (MF) Mar 10: EOD 749.90; Change 8.30
Nikkei 225 (Yen) Mar 10: EOD 10,800; Change 35

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.6893 U.S. Dollars 1.4508
Japanese Yen 91.4400 to U.S. Dollars 0.0109
British Pound 0.6140 to U.S. Dollars 1.6287
Canadian Dollar 1.0302 to U.S. Dollars 0.9707
Swiss Franc 1.0182 to U.S. Dollars 0.9821

COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (January 10) shed $1.14, EOD $79.65 per barrel ($US per barrel)
Heating Oil (February 10) shed $0.04, EOD $2.09 a gallon ($US per gallon)
Natural Gas (March 10) gain $0.15, EOD $5.70 per million BTU ($US per mmbtu.)
Unleaded Gas (January 10) shed $0.04, EOD $2.06 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (February 10) gain $8.60, EOD $1,138.00 ($US per Troy ounce)
Silver (March 10) gain $0.15, EOD $18.40 ($US per Troy ounce)
Platinum (April 10) gain $0.40, EOD $1,579.20 ($US per Troy ounce)
Copper (March 10) gain $0.05, EOD $3.40 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (February 10) gain $2.30, EOD $73.33
Pork Bellies (February 10) gain $1.78, EOD $88.83
Live Cattle (February 10) gain $0.25, EOD $85.70
Feeder Cattle (March 10) shed $0.73, EOD $97.58

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (march 10) shed $8.50, EOD $381.50
Soybeans (January 10) gain $14.50, EOD $992.50

BOND MARKET:
2 year EOD 100 2/32, change -3/32, Yield 0.96, Yield change 0.06
5 year EOD 100 13/32, change -9/32, Yield 2.53 Yield change 0.06
10 year EOD 96 21/32, change -17/32, Yield 3.78 Yield change 0.07
30 year EOD 94 26/32, change -1 8/32, Yield 4.69, change 0.08

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