Bush Tax Cuts

Daily Market Commentary for December 7, 2010

Bush Tax Cuts

Stocks rallied after investors learned the Bush tax cuts would be extended for an additional two years. (Read more at Millennium-Traders.Com)

Economic data released today:

U.S. ICSC/Goldman Sachs Chain Store Sales fell 2.1% in Week of December 4; U.S. ICSC/Goldman Sachs Chain Store Sales rose 2.6% on Year.

Redbook:
U.S. Retail Sales First Week December rose 0.6% versus November; U.S. Retail Sales First Week December rose 3.8% versus December a Year-Ago; U.S. Retail Sales rose 3.8% Week Ended December 4 versus a Year Ago.

IBD/TIPP Economic Optimism:
U.S. December IBD/TIPP 6-Month Economic Outlook 48.7; U.S. December IBD/TIPP Economic Optimism Index 45.8 versus 46.7 in November.

Consumer Credit:
September Consumer Credit Revised to up $1.2B from up $2.1B; U.S. October Consumer Credit Increased $3.4B; U.S. Consumer Borrowing Rises for Second Straight Month in October.

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 3.48 points, EOD 11,358.71
NYSE (New York Stock Exchange) shed 1.76, EOD 7,738.93
National Association of Securities Dealers Automated Quotations (NASDAQ) gain 2.55 points, EOD 2,597.47
S&P 500 (SPX) gain 0.5 points, EOD 1,223.62
BEL 20 (BEL20) gain 13.26 points, EOD 2,624.67
CAC 40 (CAC40) gain 61.27 points, EOD 3,810.50
FTSE100 (UKX100) gain 38.17 points, EOD 5,808.45
NIKKEI 225 (NIK/O) shed 26.13 points, EOD 10,141.10

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 1,512, declined stock prices 1,571, unchanged stock prices 113, stock prices hitting new highs 430 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: LVS shed 1.44, HOD 50.00, LOD 47.50, EOD 47.59; APA shed 0.10, HOD 117.87, LOD 115.83, EOD 116.32; MOS shed 0.15, HOD 71.08, LOD 68.75, EOD 69.17; AZO shed 1.77, HOD 271.20, LOD 255.94, EOD 260.14; AGQ shed 15.36, HOD 158.23, LOD 137.14, EOD 138.04; CME gain 1.15, HOD 317.37, LOD 312.77, EOD 313.98; PBY gain 0.61, HOD 14.00, LOD 13.46, EOD 13.57; MTN gain 1.61, HOD 51.95, LOD 48.47, EOD 50.70.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,502, declined stock prices 1,185, unchanged stock prices 123, stock prices hitting new highs 355 and stock prices hitting new lows 29. 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: NFLX shed 3.66, HOD 199.40, LOD 189.51, EOD 189.81; AAPL shed 1.94, HOD 323.99, LOD 318.12, EOD 318.21; FFIV shed 2.19, HOD 143.00, LOD 137.32, EOD 137.61; ABMD shed 2.32, HOD 10.70, LOD 9.55, EOD 9.87.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 203, declined stock prices 294, unchanged stock prices 23, stock prices hitting new highs 26 and stock prices hitting new lows 13.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Mar 10: EOD 1224.25; Change 2.25
E-mini NASDAQ-100 (NQ) Mar 10: EOD 2,192.00; Change 1.50
E-mini DOW $5 (YM) Mar 10: EOD 11,358; Change 5
Nikkei 225 (Yen) Mar 10: EOD 10,215; Change 30

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7531 to U.S. Dollars 1.3300
Japanese Yen 83.4950 to U.S. Dollars 0.012
British Pound 0.6341 to U.S. Dollars 1.5800
Canadian Dollar 1.0100 to U.S. Dollars 0.9894
Swiss Franc 0.9872 to U.S. Dollars 1.01

COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (January 11) shed $0.69, EOD $88.69 per barrel ($US per barrel)
Heating Oil (January 11) shed $0.00, EOD $2.47 a gallon ($US per gallon)
Natural Gas (January 11) gain $0.11, EOD $4.46 per million BTU ($US per mmbtu.)
Unleaded Gas (January 11) shed $0.01, EOD $2.32 gallon ($US per gallon)

Metals Markets - Comex:
Gold (February 11) shed $7.10, EOD $1,409.00 ($US per Troy ounce)
Silver (March 11) gain $0.04, EOD $29.78 ($US per Troy ounce)
Platinum (January 11) shed $8.40, EOD $1,705.20 ($US per Troy ounce)
Copper (March 11) gain $0.04, EOD $4.05 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (February 11) gain $0.07, EOD $75.32
Pork Bellies (February 11) unchanged, EOD $104.50
Live Cattle (February 11) shed $1.87, EOD $104.55
Feeder Cattle (January 11) shed $1.27, EOD $117.22

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (March 11) shed $5.50, EOD $562.50
Soybeans (January 11) shed $3.00, EOD $1,285.50

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