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    Default Dominique Strauss-Kahn Arrested

    Daily Market Commentary for May 16, 2011

    International Monetary Fund chief Dominique Strauss-Kahn arrested on sexual-assault charges, by a maid at the French-run Sofitel hotel in Manhattan, in New York this past weekend.
    (read more at Millennium-Traders.Com)
    http://www.millennium-traders.com/ne...ommentary.aspx

    Shares of NYSE Euronext (NYSE: NYX) were lower by 11% in early afternoon trading after NASDAQ OMX Group (NasdaqGS: NDAQ) and IntercontinentalExchange (NYSE: ICE) pulled their bid for the New York institution when the government threatened a lawsuit. In a separate announcement, the U.S. Department of Justice said they are set to file an antitrust lawsuit if the firms went ahead with their bid. NASDAQ CEO Bob Greifeld said in a press release that, “We took the decision to withdraw our offer when it became clear that we would not be successful in securing regulatory approval for our proposal despite offering a variety of substantial remedies.”

    Comments from Fed Chairman Ben Bernanke speaking at Georgetown University Economics Conference: Doesn't comment on U.S. Monetary Policy in prepared remarks; Science, Engineering skills key for Innovation; Urges Policies to Promote R&D, protect Intellectual Property Right; Innovation, Technological change key for Economic Growth; Bernanke Signals support for Government Spending in R&D.

    Space Shuttle Endeavour made its final lift off from the Kennedy Space Center in Florida this morning, to the ISS. The countdown was nearly perfect this morning as the shuttle quickly disappeared into thin, low lying clouds. Arizona congresswoman, mission commander Mark Kelly wounded wife, Gabrielle Giffords watched the launch in private with her mother and other astronauts' wives and children atop the Launch Control Center. Endeavour with crew of five Americans and an Italian are headed for the International Space Station where they will arrive at the orbiting outpost Wednesday to deliver a $2 billion magnetic instrument that will seek out antimatter and dark energy in the universe.

    NYSE Euronext (NYSE: NYX) were lower by 11% and down over 4 points by mid afternoon trading. Shares were holding in a very tight range through most of the session.

    Sina Corporation (NasdaqGS: SINA) was quite active throughout the trading session, hosting a 1+ point gain, in early afternoon trading. Shares ranged as high as $112.97 and low of $104.21 by mid afternoon.

    ProShares Ultra Silver (NYSEArca: AGQ) were on the run again today, shedding 6% by mid afternoon. Shares had a high on the early session of $175.08 with a low of $164.39.

    Amazon.com (NasdaqGS: AMZN) got slammed today, shedding 3% and lower by over 6 points into early afternoon trading session. Shares had a high from early session of $200.90 and were clearly heading lower.



    Economic data released today:

    New York Empire State Manufacturing Index: NY Fed May Prices Received 27.96 vs. 26.92 in April; NY Fed May Employment 24.73 vs. 23.08 in April; NY Fed May Manufacturing Index Declines to 11.9; NY Fed May New Orders 17.19 vs. 22.34 in April; NY Fed's May Mfg Index 11.88 vs. 21.70 in April.

    TIC [Treasury International Capital] Net Long-Term Transactions: China Net Seller of U.S. Treasurys in March, remains Top Holder; Foreigners Net Buyers $14.7B of U.S. Equities in March; Foreigners Net Buyers $3.8B of U.S. Corp Bonds In March; Foreigners Net Buyers $9.5B of U.S. Agency Debt in March; Foreigners Net Buyers $26.8B U.S. Treasury Notes, Bonds in March; Net Foreign Capital Inflow $116.0B in March; Net LT Securities Purchases $24.0B in March; Net Foreign LT Securities Purchases $11.7B in March.

    NAHB Housing Market Index: U.S. NAHB May Housing Index 16, Unchanged from April; U.S. Home Builders' Confidence Holds at Low Level in May.



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    What is the impact of this news for market?

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