Subprime Mortgages

Daily Market Commentary for July 14, 2008 from Millennium-Traders.Com

The proposed final rules are intended to protect consumers from unfair or deceptive acts and practices in mortgage lending, while keeping credit available to qualified borrowers and supporting sustainable homeownership," said Fed Chairman Ben Bernanke. (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) loss of 45.59 points on the day to end the trading session at 11,054.95
NYSE (New York Stock Exchange) loss of 59.78 points to end the trading session at 8,287.76
NASDAQ loss of 26.21 points to end the trading session at 2,212.97
S&P 500 loss of 11.25 points to end the trading session at 1,228.24
FTSE All-World ex-U.S. gain of 0.03 points to end the trading session at 222.45
FTSE RAFI 1000 loss of 45.79 points to end the trading session at 4,726.92
BEL 20 (BEL20) gain of 9.71 points to end the trading session at 2,969.06
CAC 40 (CAC40) gain of 41.89 points to end the trading session at 4,142.53
FTSE100 (UKX100) gain of 38.8 points to end the trading session at 5,300.4
NIKKEI 225 (NIK/O) loss of 29.53 points to end the trading session at 13,010.16

Market trends on the New York Stock Exchange (NYSE) today: advanced stocks 1,006; declined stocks 2,253; unchanged stocks 53; stocks hitting new highs 14; stocks hitting new lows 683. 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: M&T Bank Corporation (NYSE: MTB) shed 10.88 points on the trading session, high on the trading session $71.00, low on the trading session $53.61 for a closing stock price at $58.82; Goldman Sachs Group Incorporated (NYSE: GS) shed 3.81 points on the trading session, high on the trading session $168.00, low on the trading session $158.57 for a closing stock price at $158.67; Ultrashort Financial (NYSE: SKF) gained 17.32 points on the trading session, high on the trading session $192.31, low on the trading session $163.70 for a closing stock price at $192.0; Potash Corporation Saskatchewan (NYSE: POT) gained 7.17 points on the trading session, high on the trading session $229.95, low on the trading session $223.84 for a closing stock price at $228.55; Fannie Mae (NYSE: FNM) shed 0.37 points on the trading session, high on the trading session $13.50 low on the trading session $8.65 for a closing stock price at $9.88; Freddie Mac (NYSE: FRE) shed 0.45 points on the trading session, high on the trading session $9.80, low on the trading session $6.09 for a closing stock price at $7.30.

Market trends on the NASDAQ today: advanced stocks 868; declined stocks 2,043; unchanged stocks 131; stocks hitting new highs 26; stocks hitting new lows 367. 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: ***** Incorporated (NasdaqGS: AAPL) gained 0.79 points on the trading session, high on the trading session $179.30, low on the trading session $173.68 for a closing stock price at $173.37; Canadian Solar Incorporated (NasdaqGS: CSIQ) gained 4.90 points on the trading session, high on the trading session $39.22, low on the trading session $35.05 for a closing stock price at $37.30; SunPower Corporation (NasdaqGS: SPWR) gained 1.17 points on the trading session, high on the trading session $74.63, low on the trading session $71.50 for a closing stock price at $73.00; First Solar Incorporated (NasdaqGS: FSLR) gained 6.13 points on the trading session, high on the trading session $288.00, low on the trading session $281.31 for a closing stock price at $285.23; James River Coal Company (NasdaqGS: JRCC) gained 2.44 points on the trading session, high on the trading session $51.23, low on the trading session $47.00 for a closing stock price at $50.03; Zions Bancorporation (NasdaqGS: ZION) shed 4.52 points on the trading session, high on the trading session $25.44, low on the trading session $19.66 for a closing stock price at $21.16; WestAmerica Bancorporation (NasdaqGS: WABC) shed 2.13 points on the trading session, high on the trading session $47.30, low on the trading session $40.80 for a closing stock price at $42.70; Baidu.com Incorporated Baidu.com Incorporated (NasdaqGS: BIDU) shed 13.81 points on the trading session, high on the trading session $314.53, low on the trading session $287.10 for a closing stock price at $291.27; Google Incorporated (NasdaqGS: GOOG) shed 12.80 points on the trading session, high on the trading session $540.06, low on the trading session $515.45 for a closing stock price at $521.00.

Market trends on the American Stock Exchange (AMEX) today: advanced stocks 463; declined stocks 743; unchanged stocks 95; stocks hitting new highs 15; stocks hitting new lows 154.

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 1227.00, change -12.75
E-mini NASDAQ-100 (NQ) end of day price 1800.50, change -20.11
E-mini S&P SmallCap 600 (SMP) end of day price 349.00, change -4.90
$5 DJIA (YM) end of day price 11,026, change -70

World Currencies at time of this posting:
Euro 0.6285 to U.S. Dollars 1.591
Japanese Yen 106.12 to U.S. Dollars 0.0094
British Pound 0.5015 to U.S. Dollars 1.994
Canadian Dollar 1.0052 to U.S. Dollars 0.9948
Swiss Franc 1.0163 to U.S. Dollars 0.984

Commodities Markets:
Energy Sector: Light Crude (NYM) gained $0.10 on the day for a closing price of the range of $145.18 a gallon ($US per bbl.); Heating Oil (NYM) gained $0.01 on the day for a closing price of $4.13 a gallon ($US per gal.); Natural Gas (NYM) gained $0.07 on the day for a closing price of $12.06 per million BTU ($US per mmbtu.); Unleaded Gas (NYM) shed $0.01 on the day for a closing price of $3.56 a gallon ($US per gal.).

Metals Markets: Gold Market Price (CMX) gained $13.10 on the day for a closing price of $973.70 ($US per Troy oz.); Silver (CMX) gained $0.43 on the day for a closing price of $19.25 ($US per Troy oz.); Platinum (NYM) shed $11.20 on the day for a closing price of $2,036.00 ($US per Troy oz.) and Copper (CMX) gained $0.01 on the day for a closing price of $3.75 ($US per lb.).

Livestock and Meat Markets (cents per lb.): Lean Hogs (CME) shed 0.38 on the day for a closing price of 70.88; Pork Bellies (CME) shed 0.33 on the day for a closing price of 66.05; Live Cattle (CME) shed 2.18 on the day for a closing price of 106.40; Feeder Cattle (CME) shed 1.55 on the day for a closing price of 110.18.

Other Commodities (cents per bu.): Corn (CBT) shed 27.00 on the day for a closing price of 682.25 and Soybeans (CBT) shed 37.0 on the day for a closing price of 1,559.00.

Bond action for the day: 2 year bond gained 7/32 on the day for a closing price of 100 24/32 with a Yield of 2.46, Yield Change -0.13; 5 year bond gained 13/32 on the day for a closing price of 100 28/32 with a Yield of 3.17, Yield Change -0.09; 10 year bond gained 23/32 on the day for a closing price of 100 2/32 with a Yield of 3.86, Yield Change -0.09; the 30 year bond gained 1 9/32 on the day for a closing price of 98 21/32 with a Yield of 4.45, Yield Change -0.08.

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