New Home Construction

Daily Market Commentary for February 17, 2010

New Home Construction

U.S. Commerce Department reported new home sales rose in January however, the amount of building permits issued fell. (Read more at Millennium-Traders.Com)

Economic data released today:

MBA [Mortgage Bankers Association] Mortgage Applications:
U.S. MBA Market Index fell 2.1% at 600.5; Last Week 613.1; U.S. MBA Purchase Index fell 4.0% at 212.3; Last Week 221.2; U.S. MBA Refinance Index fell 1.2% at 2860.1; Last Week 2893.9.

U.S. ICSC/Goldman Sachs Chain Store Sales:
U.S. ICSC/Goldman Sachs Chain Store Sales fell 0.7% On Year; U.S. ICSC/Goldman Sachs Chain Store Sales fell 1.6% in week ended February 13.

Building Permits:
Building Permits fell 4.9% to 621K Rate in January.

Housing Starts:
December Housing Starts Revised to fall 0.7% from a decrease by 4.0%; U.S. January Housing Starts rose 2.8% to 591K compared to consensus of an increase by 5.9.

Import Price Index:
U.S. January Non-Petroleum Import Prices rose 0.6%; U.S. January Import Prices rose 1.4%; compared to consensus of an increase by 1.0%.

Industrial Production:
U.S. December Industrial Production Revised to rise 0.7% from an increase by 0.6%; U.S. January Industrial Production rose 0.9%; compared to consensus of an increase by 0.8%.

Capacity Utilization Rate:
U.S. December Capacity Use Revised to 71.9% from 72.0%; U..S January Capacity Utilization rose 0.7-Point at 72.6% compared to consensus 72.6%.

FOMC Meeting Minutes:
Fed officials mull 25 basis points discount rate rise; Fed officials express wide range of views on asset sales; Fed officials divided on mortgage-Backed securities sales; Fed officials note risks of medium-term rise in inflation; Fed officials disagreed on amount of slack in economy; China tightening may have helped lift U.S. dollar; Hoenig wanted shift on low rates vow to 'some time'; Hoenig concerned inflation expectations may rise; Fed officials raise '10 core inflation forecast to 1.4% from 1.3%; Fed officials raise '10 inflation forecast to 1.6% from 1.5%; Fed officials see 4Q '10 jobless rate at 9.6% -January minutes; Fed officials see unemployment staying high in 2010; Fed officials raise '10 GDP forecast to 3.2% from 3% in November.

FOMC January Minutes:
Fed officials tad more confident on recovery; Fed officials disagreed on amount of slack in economy.

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 36.35 points, EOD 10,305.16
NYSE (New York Stock Exchange) gain 21.79, EOD 7,035.14
National Association of Securities Dealers Automated Quotations (NASDAQ) gain 10.68 points, EOD 2,224.87
S&P 500 (SPX) gain 4.64 points, EOD 1,099.51
BEL 20 (BEL20) gain 37.36 points, EOD 2,512.84
CAC 40 (CAC40) gain 56.17 points, EOD 3,725.21
FTSE100 (UKX100) gain 32.58 points, EOD 5,276.64
NIKKEI 225 (NIK/O) triple digit gain 106.88 points, EOD 10,306.83

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 2,051 declined stock prices 1,059, unchanged stock prices 117, stock prices hitting new highs 143 and stock prices hitting new lows 8. 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: DE gain 2.68, HOD 57.93, LOD 56.05, EOD 56.46; FAS gain 0.76, HOD 71.58, LOD 69.95, EOD 70.76; DVN gain 0.71, HOD 70.90, LOD 69.24, EOD 69.81; CF gain 0.73, HOD 107.46, LOD 103.87, EOD 104.30; RTP gain 3.33, HOD 217.75, LOD 213.17, EOD 215.17; POT gain 114.05, HOD 114.89, LOD 112.18, EOD 114.05; VMI shed 2.38, HOD 70.40, LOD 65.30, EOD 68.62; ICE shed 1.35, HOD 104.48, LOD 101.60, EOD 102.81; ESI gain 3.81, HOD 102.60, LOD 98.92, EOD 102.43; EDC gain 0.78, HOD 114.25, LOD 110.54, EOD 112.38.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,585, declined stock prices 1,084, unchanged stock prices 168, stock prices hitting new highs 122 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: CSTR gain 1.10, HOD 29.95, LOD 28.00, EOD 28.21; WFMI gain 3.83, HOD 34.72, LOD 32.78, EOD 34.35; FSLR gain 2.86, HOD 124.75, LOD 121.70, EOD 124.22; AONE gain 0.42, HOD 18.35, LOD 17.50, EOD 17.90; ISRG gain 6.85, HOD 341.18, LOD 335.51, EOD 341.56; PCLN gain 1.66, HOD 215.73, LOD 209.37, EOD 212.87.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 265, declined stock prices 248, unchanged stock prices 39, stock prices hitting new highs 18 and stock prices hitting new lows 4.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Mar 10: EOD 1096.50; Change 3.25
E-mini NASDAQ-100 (NQ) Mar 10: EOD 1,806.75; Change 8.50
E-mini DOW $5 (YM) Mar 10: EOD 10,280; Change 39
E-mini S&P MidCap 400 (MF) Mar 10: EOD 730.10; Change 4.10
Nikkei 225 (Yen) Mar 10: EOD 10,345; Change 165

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7349 U.S. Dollars 1.3608
Japanese Yen 91.2000 to U.S. Dollars 0.0110
British Pound 0.6378 to U.S. Dollars 1.5679
Canadian Dollar 1.0451 to U.S. Dollars 0.9568
Swiss Franc 1.0777 to U.S. Dollars 0.9279

COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (March 10) gain $0.47, EOD $77.48 per barrel ($US per barrel)
Heating Oil (March 10) gain $0.01, EOD $2.01 a gallon ($US per gallon)
Natural Gas (April 10) gain $0.06, EOD $5.36 per million BTU ($US per mmbtu.)
Unleaded Gas (March 10) gain $0.02, EOD $2.01 gallon ($US per gallon)

Metals Markets - Comex:
Gold (April 10) gain $0.20, EOD $1,120.00 ($US per Troy ounce)
Silver (March 10) shed $0.08, EOD $16.07 ($US per Troy ounce)
Platinum (April 10) shed $2.50, EOD $1,535.20 ($US per Troy ounce)
Copper (May 10) gain $0.02, EOD $3.26 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (April 10) gain $0.93, EOD $69.20
Pork Bellies (March 10) unchanged $0.00, EOD $85.60
Live Cattle (April 10) shed $0.03, EOD $92.15
Feeder Cattle (March 10) gain $0.45, EOD $101.58

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (May 10) shed $6.75, EOD $371.75
Soybeans (May 10) shed $12.00, EOD $961.00

BOND MARKET:
2 year EOD 100 1/32, change -3/32, Yield 0.84, Yield change 0.04
5 year EOD 99 11/32, change -13/32, Yield 2.38 Yield change 0.08
10 year EOD 99 1/32, change -21/32, Yield 3.74 Yield change 0.08
30 year EOD 98 18/32, change -1 10/32, Yield 4.71, change 0.08

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