Strait of Hormuz

Daily Market Commentary for July 9, 2008 from Millennium-Traders.Com

The Bears were in full control of market action today with major U.S. indices closing at or near their lows for the day, at the closing bell. Both the DOW and the S&P 500 closed at new lows for this year so far. (read more)

At the closing bell on the Stock Exchange, here is how the major world indices and major U.S. indices ended the session on the world market as well as the emerging markets including the stock market closing price:

DOW (Dow Jones Industrial Average) triple digit loss of 237.26 points on the day to end the trading session at 11,146.95
NYSE (New York Stock Exchange) triple digit loss of 144.15 points to end the trading session at 8,371.63
NASDAQ loss of 59.55 points to end the trading session at 2,234.89
S&P 500 gain of 29.01 points to end the trading session at 1,244.69
FTSE All-World ex-U.S. gain of 0.19 points to end the trading session at 225.07
FTSE RAFI 1000 triple digit loss of 114.00 points to end the trading session at 4,838.24
BEL 20 (BEL20) gain of 76.18 points to end the trading session at 3,086.62
CAC 40 (CAC40) gain of 64.05 points to end the trading session at 4,339.66
FTSE100 (UKX100) gain of 89.1 points to end the trading session at 5,529.6
NIKKEI 225 (NIK/O) gain of 19.03 points to end the trading session at 13,052.13

Market trends on the New York Stock Exchange (NYSE) today: advanced stocks 1,080; declined stocks 2,130; unchanged stocks 69; stocks hitting new highs 7; stocks hitting new lows 187. List of volatile stocks 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: Nucor Corporation (NYSE: NUE) gained 2.43 points on the trading session, high on the trading session $69.45, low on the trading session $65.21 for a closing stock price at $65.59; CIRCOR International Incorporated (NYSE: CIR) gained 11.68 points on the trading session, high on the trading session $62.36, low on the trading session $55.68 for a closing stock price at $61.90; Cleveland-Cliffs Incorporated (NYSE: CLF) gained 13.84 points on the trading session, high on the trading session $110.70, low on the trading session $102.00 for a closing stock price at $105.78; Intrepid Potash Incorporated (NYSE: IPI) gained 1.47 points on the trading session, high on the trading session $59.12, low on the trading session $54.26 for a closing stock price at $56.47; Apache Corporation (NYSE: APA) shed 5.91 points on the trading session, high on the trading session $124.73, low on the trading session $116.57 for a closing stock price at $116.96; Walter Industries Incorporated (NYSE: WLT) gained 1.04 points on the trading session, high on the trading session $94.02, low on the trading session $86.19 for a closing stock price at $86.64; Devon Energy Corporation (NYSE: DVN) shed 3.66 points on the trading session, high on the trading session $110.52, low on the trading session $104.40 for a closing stock price at $104.59; Rio Tinto plc (NYSE: RTP) shed 4.11 points on the trading session, high on the trading session $431.14, low on the trading session $416.50 for a closing stock price at $416.52; CME Group Incorporated (NYSE: CME) shed 21.73 points on the trading session, high on the trading session $345.33, low on the trading session $319.39 for a closing stock price at $320.77; Transocean Incorporated (NYSE: RIG) shed 1.62 points on the trading session, high on the trading session $149.50, low on the trading session $144.28 for a closing stock price at $144.32; CF Industries Holdings Incorporated (NYSE: CF) gained 7.76 points on the trading session, high on the trading session $155.01, low on the trading session $145.06 for a closing stock price at $152.23; MasterCard Incorporated (NYSE: MA) shed 13.00 points on the trading session, high on the trading session $264.90, low on the trading session $249.65 for a closing stock price at $251.25; United States Steel Corporation (NYSE: X) gained 7.50 points on the trading session, high on the trading session $170.27, low on the trading session $155.84 for a closing stock price at $158.05; Potash Corporation Saskatchewan (NYSE: POT) gained 1.40 points on the trading session, high on the trading session $223.44 low on the trading session $215.54 for a closing stock price at $216.43; Patriot Coal Corporation (NYSE: PCX) gained 3.69 points on the trading session, high on the trading session $132.99, low on the trading session $122.29 for a closing stock price at $125.51; Monsanto Company (NYSE: MON) gained 1.15 points on the trading session, high on the trading session $124.09, low on the trading session $118.50 for a closing stock price at $118.69.

Market trends on the NASDAQ today: advanced stocks 845; declined stocks 2,034; unchanged stocks 117; stocks hitting new highs 17; stocks hitting new lows 196. List of volatile stocks 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: QLogic Corporation (NasdaqGS: QLGC) gained 1.20 points on the trading session, high on the trading session $15.88, low on the trading session $14.78 for a closing stock price at $15.16; Intuitive Surgical Incorporated (NasdaqGS: ISRG) shed 1.64 points on the trading session, high on the trading session $275.00, low on the trading session $262.11 for a closing stock price at $262.51; First Solar Incorporated (NasdaqGS: FSLR) gained 4.21 points on the trading session, high on the trading session $273.73, low on the trading session $264.50 for a closing stock price at $266.21; Baidu.com Incorporated (NasdaqGS: BIDU) shed 1.56 points on the trading session, high on the trading session $343.97, low on the trading session $331.46 for a closing stock price at $333.00.

Market trends on the American Stock Exchange (AMEX) today: advanced stocks 552; declined stocks 634; unchanged stocks 84; stocks hitting new highs 8; stocks hitting new lows 50.

Chicago Board of Trade Futures Market activity for the day, September 2008 Contracts, at time of this posting:
E-mini S&P 500 (ES) end of day price 1247.25, change -.75
E-mini NASDAQ-100 (NQ) end of day price 1827.00, change -4.50
E-mini S&P SmallCap 600 (SMP) end of day price 350.10, change 0.00
$5 DJIA (YM) end of day price 11,143, change -6

World Currencies at time of this posting:
Euro 0.6352 to U.S. Dollars 1.5744
Japanese Yen 107.11 to U.S. Dollars 0.0093
British Pound 0.5047 to U.S. Dollars 1.9812
Canadian Dollar 1.0107 to U.S. Dollars 0.9894
Swiss Franc 1.0302 to U.S. Dollars 0.9707

Commodities Markets:
Energy Sector: Light Crude (NYM) gained $0.01 on the day for a closing price of $136.05 a gallon ($US per bbl.); Heating Oil (NYM) gained $0.06 on the day for a closing price of $3.88 a gallon ($US per gal.); Natural Gas (NYM) shed $0.36 on the day for a closing price of $12.01 per million BTU ($US per mmbtu.); Unleaded Gas (NYM) gained $0.01 on the day for a closing price of $3.37 a gallon ($US per gal.).

Metals Markets: Gold Market Price (CMX) gained $5.30 on the day for a closing price of $928.60 ($US per Troy oz.); Silver (CMX) gained $0.22 on the day for a closing price of $18.18 ($US per Troy oz.); Platinum (NYM) gained $19.10 on the day for a closing price of $1,972.00 ($US per Troy oz.) and Copper (CMX) gained $0.04 on the day for a closing price of $3.74 ($US per lb.).

Livestock and Meat Markets (cents per lb.): Lean Hogs (CME) gained 2.30 on the day for a closing price of 73.00; Pork Bellies (CME) gained 2.78 on the day for a closing price of 65.30; Live Cattle (CME) gained 0.45 on the day for a closing price of 102.55; Feeder Cattle (CME) gained 1.38 on the day for a closing price of 112.90.

Other Commodities (cents per bu.): Corn (CBT) shed 9.75 on the day for a closing price of 712.75 and Soybeans (CBT) gained 27.50 on the day for a closing price of 1,557.00.

Bond action for the day: 2 year bond closed with no change at 100 24/32 with a Yield of 2.36, Yield Change -0.11; 5 year bond gained 1/32 on the day for a closing price of 100 28/32 with a Yield of 3.07, Yield Change -0.11; 10 year bond gained 1/32 on the day for a closing price of 99 30/32 with a Yield of 3.81, Yield Change -0.07; the 30 year bond shed 4/32 on the day for a closing price of 98 19/32 with a Yield of 4.41, Yield Change -0.04.

Department of Energy released oil reserve data today: U.S. Distillate Stockpiles rose by 1.8 Million Barrels in the week compared to expectations of an increase by 1.9 Million Barrels; U.S. Gasoline Stockpiles increased by 900,000 Barrels in the week compared to expectations of an increase by 200,000 Barrels; U.S. Crude Oil Stockpiles -5.84 Million Barrels at 293.936 Million Barrels; U.S. Gasoline Stockpiles increased by 0.909 Million Barrels at 211.766 Million Barrels; U.S. Distillate Stockpiles increased by 1.816 Million Barrels at 122.501 Million Barrels; U.S. Refineries ran at 89.2% versus 89.2% a week ago; U.S. Refineries ran at 89.2% capacity compared to expectations of an increase by 0.1 percent at 89.3%.

Monitor scheduled economic data every market morning by viewing the Daily Market Report from Millennium-Traders, free access to visitors on our website.

Subscribe to our free Weekly MarketNews for a review of the past weeks trading action plus, view upcoming economic data for the week ahead.

Review archives of the News & Commentary plus, our FREE Monthly Trading Lesson posted on our website.

Thanks for reading
Millennium-Traders.Com