Troubled Asset Relief Program

Daily Market Commentary for December 10, 2008 from Millennium-Traders.Com

The American people provided Treasury with broad authorities to stabilize the financial system and it is essential we communicate our actions in an open and transparent manner to maintain their trust. (read more)

Economic data released today:

U.S. October Wholesale Inventories:
Fell 1.1 percent compared to what was expected at a drop by 0.2 percent.

Department of Energy released Crude Oil Inventories:
U.S. Refineries ran at capacity of 87.4 percent; Seen rising by 0.2 points at 84.5 percent; U.S. Distillate Stockpiles rose by 5.6 Million Barrels in the week compared to expectations of a drop by 1.4 Million Barrels; U.S. Gasoline Stockpiles rose by 3.7 Million Barrels in the week compared to expectations of a drop by 500,000 Barrels; U.S. Crude Oil Stockpiles rose by 392,000 Barrels in the week compared to expectations of an increase by 1.1 Million Barrels; U.S. Refineries ran at 87.4 percent capacity versus 84.3 percent a week ago; U.S. Distillate Stockpiles rose by 5.614 Million Barrels at 130.587 Million Barrels; U.S. Gasoline Stockpiles rose by 3.722 Million Barrels at 202.664 Million Barrels; U.S. Crude Oil Stockpiles rose by 0.392 Million Barrels at 320.764 Million Barrels.

Stocks in the news today:
Yahoo (NYSE: YHOO) announced potential layoffs of approximately 1,500 employees today; Rio Tinto (NYSE: RTP) announced layoffs of approximately 14,000 worldwide jobs; Electronic Arts (NasdaqGS: ERTS) warned that fiscal revenue for 2009 will be below forecasts; Eastman Kodak (NYSE: EK) will be temporarily suspending 401(k) matches for eligible employees.

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) gain of 70.09 points to end the trading session at 8,761.42
NYSE (New York Stock Exchange) triple digit gain of 108.61 points to end the trading session at 5,631.07
National Association of Securities Dealers Automated Quotations (NASDAQ) gain of 18.14 points to end the trading session at 1,565.48
S&P 500 (SPX) gain of 10.57 points to end the trading session at 899.24
FTSE All-World Index data excluding U.S. (AW01UK) gain of 2.22 points to end the trading session at 146.10
FTSE RAFI 1000 gain of 34.31 points to end the trading session at 3,463.96
BEL 20 (BEL20) gain of 20.41 points to end the trading session at 1,906.24
CAC 40 (CAC40) gain of 22.51 points to end the trading session at 3,320.31
FTSE100 (UKX100) loss of 13.98 points to end the trading session at 4,367.28
NIKKEI 225 (NIK/O) triple digit gain of 264.37 points to end the trading session at 8,660.24

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 2,157, declined stock prices 1,010; unchanged stock prices 61; stock prices hitting new highs 9 and stock prices hitting new lows 48. 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: Rio Tinto (NYSE: RTP) stock price gained 21.41 points on the trading session, high on the trading session $94.50, low on the trading session $85.72 with a closing stock price at $94.50; Apache Corporation (NYSE: APA) stock price gained 5.97 points on the trading session, high on the trading session $75.16, low on the trading session $69.70 with a closing stock price at $74.16; Devon Energy Corporation (NYSE: DVN) stock price gained 6.32 points on the trading session, high on the trading session $73.11, low on the trading session $67.27 with a closing stock price at $72.56; ProShares Ultrashort Real Estate (NYSE: SRS) stock price shed 11.26 points on the trading session, high on the trading session $87.99, low on the trading session $75.40 with a closing stock price at $77.10.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,816; declined stock prices 1,025; unchanged stock prices 133; stock prices hitting new highs n/a and stock prices hitting new lows 80. 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: Cavium Networks Incorporated (NasdaqGS: CAVM) stock price shed 0.54 points on the trading session, high on the trading session $10.30, low on the trading session $9.00 with a closing stock price at $9.62; DryShips Incorporated (NasdaqGS: DRYS) stock price gained 1.33 points on the trading session, high on the trading session $12.10, low on the trading session $10.02 with a closing stock price at $10.78; Electronic Arts Incorporated (NasdaqGS: ERTS) stock price shed 2.39 points on the trading session, high on the trading session $17.29, low on the trading session $15.50 with a closing stock price at $16.96; Axsys Technologies Incorporated (NasdaqGS: AXYS) stock price shed 8.79 points on the trading session, high on the trading session $64.00, low on the trading session $55.57 with a closing stock price at $58.11; First Solar Incorporated (NasdaqGS: FSLR) stock price gained 1.82 points on the trading session, high on the trading session $123.20, low on the trading session $112.78 with a closing stock price at $118.93.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 356; declined stock prices 266; unchanged stock prices 70; stock prices hitting new highs 6 and stock prices hitting new lows 26.

Chicago Board of Trade Futures Market activity for the day, at time of this posting for December 2008 Contracts:
E-mini S&P 500 (ES): End of trading session price 896.50; Change for the trading session 7.00
E-mini NASDAQ-100 (NQ): End of trading session price 1,218.50; Change for the trading session 1.50
E-mini DOW $5 (YM): End of trading session price 8,728; Change for the trading session 8
E-mini S&P MidCap 400 (MF): End of trading session price 513.00; Change for the trading session 10.80
E-mini S&P Small Cap 600 (HS): End of trading session price 255.30; Change for the trading session 4.20

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7682 to U.S. Dollars 1.3018
Japanese Yen 92.640 to U.S. Dollars 0.0108
British Pound 0.6761 to U.S. Dollars 1.4790
Canadian Dollar 1.2592 to U.S. Dollars 0.7942
Swiss Franc 1.1983 to U.S. Dollars 0.8345

COMMODITY MARKETS:

Energy Sector - Nymex:
Light Crude (January 09) gained $1.45 on the trading session for a closing price of $43.52 per barrel ($US per barrel)
Heating Oil (January 09) shed $0.03 on the trading session for a closing price of $1.40 a gallon ($US per gallon)
Natural Gas (January 09) gained $0.11 on the trading session for a closing price of $5.69 per million BTU ($US per mmbtu.)
Unleaded Gas (December 08) gained $0.03 on the trading session for a closing price of $0.97 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (February 09) gained $34.60 on the trading session for a closing price of $808.80 ($US per Troy ounce)
Silver (March 09) gained $0.35 on the trading session for a closing price of $10.20 ($US per Troy ounce)
Platinum (January 09) gained $27.50 on the trading session for a closing price of $840.00 ($US per Troy ounce)
Copper (March 09) gained $0.05 on the trading session for a closing price of $1.50 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (October 09) shed 1.00 on the trading session for a closing price of 63.13
Pork Bellies (February 09) shed 3.00 on the trading session for a closing price of 84.50
Live Cattle (February 09) gained 1.53 on the trading session for a closing price of 83.80
Feeder Cattle (January 09) gained 0.80 on the trading session for a closing price of 87.35

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (March 09) gained 14.25 on the trading session for a closing price of 342.00
Soybeans (January 09) gained 16.50 on the trading session for a closing price of 829.50

BOND MARKET:
2 year Bond closing price 100 25/32, 0, Yield 0.84, Yield change 0.00
5 year Bond closing price of 101 31/32, 0, Yield 1.58, Yield change 0.00
10 year Bond closing price 109 17/32, -6/32, Yield 2.64, Yield change -0.10
30 year Bond closing price 127 25/32, +11/32, Yield 3.06, Yield change -0.01

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