BP Oil Spill

Daily Market Commentary for May 26, 2010

BP Oil Spill

Many find themselves wondering if the government is doing all they can to stop the BP oil spill from continuing to contaminate the ocean. (Read more at Millennium-Traders.Com)

Economic data released today:

MBA [Mortgage Bankers Associations] Mortgage Applications:
U.S. MBA Refinance Index rose 17.0% at 3,257.4; Last Week 2,783.0; U.S. MBA Purchase Index fell 3.3% at 185.7; Last Week 192.1; U.S. MBA Market Index rose 11.3% at 633.5; Last Week 569.2.

Durable Goods Orders (MoM):
March Durable Goods Orders Revised to Unchanged% from a decrease by 0.6%; U.S. April Durable Goods Orders rose 2.9%; Compared to Consensus of an increase by 2.2%; April Durable Goods Orders, Ex-Transportation, fell 1.0%; April Durable Goods Orders, Ex-Defense, rose 3.4%.

New Home Sales:
U.S. Mar New Home Sales Revised to 439K from 411K; April Sales Pace of 504K is Strongest Since May 2008; U.S. April New Home Sales rose 14.8% to 504K; Compared to Consensus of 425K.

Crude Oil Inventories as released by DOE [Department of Energy]:
U.S. Crude Oil Stockpiles rose 2.46 Million Barrels at 365.146 Million Barrels; U.S. Crude Oil Stockpiles rose 2.46 Million Barrels in Week; Was Seen increasing by 0.1 Million Barrels; U.S. Gasoline Stockpiles fell 0.203 Million Barrels at 221.631 Million Barrels; U.S. Distillate Stockpiles fell 0.267 Million Barrels at 152.543 Million Barrels; U.S. Distillate Stockpiles fell 0.267 Million Barrels in Week; Was Seen increasing by 0.1 0.3 Million Barrels; U.S. Refineries Ran at 87.8% capacity versus 87.9% Week Ago; U.S. Refineries Ran at 87.8% capacity; Was Seen 87.80%; U.S. Gasoline Stockpiles fell 0.203M Bbl in Week; Was Seen Unchanged.

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) shed 69.30 points, EOD 9,974.45
NYSE (New York Stock Exchange) shed 34.47, EOD 6,631.36
National Association of Securities Dealers Automated Quotations (NASDAQ) shed 15.07 points, EOD 2,195.88
S&P 500 (SPX) shed 6.24 point, EOD 1,067.79
BEL 20 (BEL20) gain 56.66 points, EOD 2,386.45
CAC 40 (CAC40) gain 77.3 points, EOD 3,408.59
FTSE100 (UKX100) gain 97.4 points, EOD 5,038.08
NIKKEI 225 (NIK/O) gain 62.77, EOD 9,522.66

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 1,931, declined stock prices 1,209, unchanged stock prices 87, stock prices hitting new highs 24 and stock prices hitting new lows 24. 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: CME shed 2.64, HOD 318.89, LOD 309.00, EOD 309.66; GS shed 2.26, HOD 145.80, LOD 139.69, EOD 140.30; MA shed 1.87, HOD 212.95, LOD 205.00, EOD 205.00; TOL gain 0.17, HOD 21.93, LOD 20.65, EOD 20.78; MA shed 1.87, HOD 212.95, LOD 205.00, EOD 205.00; AEO shed 2.57, HOD 14.30, LOD 12.70, EOD 12.81; NZ gain 0.46, HOD 14.75, LOD 13.40, EOD 13.62; BWS shed 0.69, HOD 18.46, LOD 16.44, EOD 16.51; DSX gain 0.11, HOD 13.85, LOD 13.30, EOD 13.33.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,509, declined stock prices 1,201, unchanged stock prices 102, stock prices hitting new highs 20 and stock prices hitting new lows 59. 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: FSLR shed 2.27, HOD 117.00, LOD 109.63, EOD 110.35; SOLF gain 0.83, HOD 7.63, LOD 6.87, EOD 7.10; PCLN shed 1.02, HOD 200.97, LOD 191.79, EOD 192.42; BIDU shed 1.49, HOD 72.10, LOD 67.57, EOD 67.59; AAPL shed 1.11, HOD 252.13, LOD 243.75, EOD 244.11; UPRO shed 2.73, HOD 137.88, LOD 128.25, EOD 129.17; VRTX gain 0.79, HOD 37.82, LOD 34.64, EOD 34.74.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 309, declined stock prices 180, unchanged stock prices 40, stock prices hitting new highs 2 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) Mar 10: EOD 1066.00; Change -7.00
E-mini NASDAQ-100 (NQ) Mar 10: EOD 1,794.75; Change -20.75
E-mini DOW $5 (YM) Mar 10: EOD 9,949; Change -76
E-mini S&P MidCap 400 (MF) Mar 10: EOD 742.70; Change 3.90
Nikkei 225 (Yen) Mar 10: EOD 9,450; Change -95

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.8202 to U.S. Dollars 1.2200
Japanese Yen 90.1050 to U.S. Dollars 0.0110
British Pound 0.6944 to U.S. Dollars 1.4400
Canadian Dollar 1.0640 to U.S. Dollars 0.9365
Swiss Franc 1.1603 to U.S. Dollars 0.8619

COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (July 10) gain $2.76, EOD $71.51 per barrel ($US per barrel)
Heating Oil (June 10) gain $0.04, EOD $1.92 a gallon ($US per gallon)
Natural Gas (June 10) gain $0.10, EOD $4.16 per million BTU ($US per mmbtu.)
Unleaded Gas (June 10) gain $0.03, EOD $1.97 gallon ($US per gallon)

Metals Markets - Comex:
Gold (May 10) gain $15.50, EOD $1,213.30 ($US per Troy ounce)
Silver (May 10) gain $0.52, EOD $18.29 ($US per Troy ounce)
Platinum (May 10) gain $38.40, EOD $1,528.30 ($US per Troy ounce)
Copper (May 10) gain $0.03, EOD $3.07 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (June 10) gain $0.50, EOD $81.65
Pork Bellies (May 10) unchanged, EOD $112.00
Live Cattle (June 10) gain $0.77, EOD $90.80
Feeder Cattle (May 10) gain $0.47, EOD $108.48

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (May 10) gain $7.25, EOD $371.50
Soybeans (May 10) gain $7.50, EOD $938.00

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