Thread: Europe

Daily Market Commentary for April 28, 2010

Europe

Today's news that the Standard & Poor's cut Spain's credit rating, proves problems are continuing to grow in Europe. (Read more at Millennium-Traders.Com)

Economic data released today:

MBA [Mortgage Bankers Association] Mortgage Applications:
U.S. MBA Market Index fell 2.9% at 534.6; Last Week 550.5; U.S. MBA Purchase Index rose 7.4% at 257.9; Last Week 240.1; U.S. MBA Refinance Index fell 8.8% at 2,161.8; Last Week 2,371.0.

Interest Rate Decision:
FOMC: Voted 9-1 for Fed funds rate action; Hoenig dissents; Fed keeps Fed funds range unchanged at 0.0% to 0.25%; Fed leaves discount rate unchanged at 0.75%; Extended period' may limit policy flexibility; Firms spending significantly more, reluctant to hire; Household spending picking up remains constrained; Financial market conditions remain supportive of Government; Longer-term inflation expectations remain stable; Pace of recovery likely to stay moderate for a time; Inflation expected to remain subdued for some time; Labor market starting to improve, but unemployment high; Economic activity has continued to strengthen; Fed funds to stay exceptionally low for extended period.

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 55.77 points, EOD 11,047.76
NYSE (New York Stock Exchange) gain 36.62, EOD 7,499.71
National Association of Securities Dealers Automated Quotations (NASDAQ) shed 0.76 points, EOD 2,470.68
S&P 500 (SPX) gain 7.78 points, EOD 1,191.49
BEL 20 (BEL20) shed 61.49 points, EOD 2,506.19
CAC 40 (CAC40) shed 57.6 points, EOD 3,787.00
FTSE100 (UKX100) shed 16.91 points, EOD 5,586.61
NIKKEI 225 (NIK/O) shed 287.87, EOD 10,925.79

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 1,839, declined stock prices 1,277, unchanged stock prices 117, stock prices hitting new highs 91 and stock prices hitting new lows 18. 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: MTW shed 13.67, HOD 14.92, LOD 13.57, HOD 13.67; RHI shed 3.19, HOD 28.41, LOD 27.27, HOD 28.21; BRY shed 1.16, HOD 32.88, LOD 30.61, HOD 30.82; FAS gain 3.77, HOD 103.95, LOD 99.46, HOD 101.92; GS gain 3.97, HOD 157.65, LOD 154.69, HOD 157.01; TMO gain 2.25, HOD 57.40, LOD 54.83, HOD 55.93; POT gain 2.18, HOD 109.94, LOD 106.68, HOD 109.02; CME shed 2.95, HOD 337.99, LOD 314.02, HOD 330.31.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,443, declined stock prices 1,309, unchanged stock prices 101, stock prices hitting new highs 110 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: ISSI gain 2.45, HOD 13.42, LOD 12.00, HOD 13.17; PNRA shed 6.23, HOD 83.98, LOD 79.84, HOD 79.97; BWLD shed 8.71, HOD 42.78, LOD 41.12, HOD 42.30; AAPL shed 0.44, HOD 264.00, LOD 356.41, HOD 261.60; GOOG gain 0.13, HOD 534.83, LOD 521.03, HOD 529.19.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 288, declined stock prices 211, unchanged stock prices 36, stock prices hitting new highs 15 and stock prices hitting new lows 5.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Mar 10: EOD 1187.75; Change 6.75
E-mini NASDAQ-100 (NQ) Mar 10: EOD 2,005.25; Change -3.50
E-mini DOW $5 (YM) Mar 10: EOD 10,993; Change 38
E-mini S&P MidCap 400 (MF) Mar 10: EOD 825.60; Change 1.00
Nikkei 225 (Yen) Mar 10: EOD 10,920; Change 25

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7575 to U.S. Dollars 1.3200
Japanese Yen 94.1450 to U.S. Dollars 0.0106
British Pound 0.6584 to U.S. Dollars 1.5200
Canadian Dollar 1.0099 to U.S. Dollars 0.9919
Swiss Franc 1.0857 to U.S. Dollars 0.9205

COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (June 10) gain $0.78, EOD $83.22 per barrel ($US per barrel)
Heating Oil (May 10) shed $0.00, EOD $2.23 a gallon ($US per gallon)
Natural Gas (May 10) gain $0.05, EOD $4.27 per million BTU ($US per mmbtu.)
Unleaded Gas (May 10) gain $0.00, EOD $2.33 gallon ($US per gallon)

Metals Markets - Comex:
Gold (April 10) gain $9.60, EOD $1,171.30 ($US per Troy ounce)
Silver (April 10) shed $0.00, EOD $18.11 ($US per Troy ounce)
Platinum (April 10) shed $7.30, EOD $1,711.40 ($US per Troy ounce)
Copper (April 10) shed $0.00, EOD $3.37 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (May 10) gain $0.07, EOD $88.20
Pork Bellies (May 10) gain $0.70, EOD $97.20
Live Cattle (April 10) shed $0.00 EOD $98.05
Feeder Cattle (April 10) gain $0.07, EOD $113.27

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (May 10) gain $9.50, EOD $357.00
Soybeans (May 10) unchanged, EOD $982.75

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World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7575 to U.S. Dollars 1.3200
Japanese Yen 94.1450 to U.S. Dollars 0.0106
British Pound 0.6584 to U.S. Dollars 1.5200
Canadian Dollar 1.0099 to U.S. Dollars 0.9919
Swiss Franc 1.0857 to U.S. Dollars 0.9205

Euro Update 29.04.2010:

The Euro traded at as low as $1.51240 as concern that Europe’s deficit crisis may widen damped the appeal of assets in the 16-nation region. A cut to Spain’s credit rating yesterday, coming after downgrades this week to Portugal and Greece exasperated fears that the Euro Zones debt crisis is spreading. Standard & Poor’s cut Spain’s credit rating to AA from AA+ and said the outlook on the country’s debt is negative. This move comes just two days after the rating agency sliced Greece’s borrowings to junk and reduced Portugal’s to the third-lowest investment grade. The extra yield investors demand to hold Spain’s 10-year debt rather than German equivalents widened to 112.5 basis points this week, the most in more than a year.