Stock Market Recovery

Daily Market Commentary for August 5, 2009

Stock Market Recovery

Analysts have been pretty confident that the stock market recovery is well under way, but company insiders might be saying something different. (read more at Millennium-Traders.Com)

Economic data released today:

MBA Mortgage Applications:
U.S. MBA Market Index rose 4.4% at 517.3 compared to last week reading of 495.4; U.S. MBA Purchase Index rose 0.9% at 264.4 compared to last week reading of 262; US MBA Refinance Index rose 7.2% at 1996.7 compared to last week reading of 1862.1.

Employment Change:
ADP Sees July US Private Sector Jobs fell 371,000
ADP July US Private Sector Jobs Expected to drop by 350,000.
Nonfarm Private Employment Highlights for July: Total employment -371,000; Small businesses represent payrolls with 1-49 employees -138,000; Medium businesses represent payrolls with 50-499 employees -159,000; Large businesses represent payrolls with more than 499 employees -74,000; Goods-producing sector -169,000; Service-providing sector -202,000; Addendum: Manufacturing industry -99,000. Nonfarm private employment decreased 371,000 from June to July 2009 on a seasonally adjusted basis. July's employment decline was the smallest since October 2008 and continues the notable improvement between Q1 and Q2 2009. Despite indications recently that overall economic activity appears to be stabilizing, employment - which normally trails overall economic activity, is more likely to decline for several more months, possibly at a diminishing rate. Employment in the goods-producing sector declined 169,000, with employment in the manufacturing sector dropping 99,000 which is its smallest monthly decline since September 2008. For the month of July we saw the 30th consecutive monthly decline for construction employment and brings the total decline for construction jobs to 1,483,000, since the peak of January 2007. Employment in the financial services sector experienced its 20th consecutive monthly decline. The matched sample used to develop the ADP National Employment Report was derived from ADP data, which during the twelve month period through June 2009, averaged approximately 400,000 U.S. business clients and represented over 23 million U.S. employees. This approximately represents the size of the matched sample used this month. The decline in small-size businesses was the smallest in 8 months continuing the notable improvement between Q1 and Q2 2009. It is likely we will see continuing decline in small-size businesses for several more months. Since its peak in January 2008, small-size businesses have shed almost 2.4 million jobs.

10:00 ISM (Institute for Supply Management) Non-Manufacturing Index:
U.S. ISM July Non-Manufacturing PMI 46.4 versus June 47.0; U.S. ISM July Non-Manufacturing PMI expected 48.2; U.S. ISM July Non-Mfg Business Index 46.1 versus June 49.8; U.S. ISM July Non-Mfg Employment Index 41.5 versus June 43.4; U.S. ISM July Non-Mfg Prices Index 41.3 versus June 53.7;
U.S. ISM July Non-Mfg New Orders Index 48.1 versus June 48.6.

Factory Orders:
U.S. Factory Orders rose 0.4% in June compared to consensus of a drop by 1.0%; June Factory Orders, Excluding Transportation, rose 2.3%; June Factory Orders, Excluding Defense, rose 1.3%; Jun Durable Goods revised to a decrease by 2.2% from decreasing by 2.5%; May Factory Orders revised to an increase by 1.1% from increase by 1.2%.

Crude Oil Inventories from Department of Energy (DOE):
U.S. Crude Oil Stocks rose 1.67 million barrels at 349.51 million barrels; U.S. Crude Oil Stocks rose 1.67 million barrels in the week compared to expectaions of an increase by 0.5 million barrels; U.S. Gasoline Stocks fell by 0.218 million barrels at 212.858 million barrels; U.S. Gasoline Stocks fell by 0.218 million barrels in week compared to expectations of a drop by 1.4 million barrels;U.S. Distillate Stocks fell by 1.136 million barrels at 161.481 million barrels; U.S. Distillate Stocks fell by 1.136 million barrels in week as compared to expectaions of an increase by 0.9 million barrels; U.S. Refineries Ran at 84.5% versus 84.6% week ago; U.S. Refineries Ran at 84.5%; was seen at 84.20%.

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 39.22 points, EOD 9,280.97
NYSE (New York Stock Exchange) shed 10.95, EOD 6,558.19
National Association of Securities Dealers Automated Quotations (NASDAQ) shed 18.26 points, EOD 1,993.05
S&P 500 (SPX) shed 2.95 points, EOD 1,002.70
BEL 20 (BEL20) shed 11.8 points, EOD 2,173.27
CAC 40 (CAC40) shed 17.84 points, EOD 3,458.53
FTSE100 (UKX100) shed 24.24 points, EOD 4,647.13
NIKKEI 225 (NIK/O) shed 122.48 points, EOD 10,252.53

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 1,426, declined stock prices 1,662, unchanged stock prices 95, stock prices hitting new highs 149 and stock prices hitting new lows 10. 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: GGC gain 4.30, HOD 42.80, LOD 33.30, EOD 36.50; DVA gain 0.17, HOD 52.61, LOD 50.88, EOD 51.21; RTP shed 0.62, HOD 175.24, LOD 169.34, EOD 173.37; AFL gain 0.10, HOD 281.45, LOD 276.22, EOD 279.04; APA shed 0.44, HOD 88.30, LOD 86.63, EOD 87.12; POT gain 3.93, HOD 100.64, LOD 96.35, EOD 99.56; AVB gain 3.43, HOD 67.98, LOD 63.44, EOD 67.28; GS gain 3.47, HOD 168.96, LOD 164.61, EOD 168.64; RDN gain 3.05, HOD 6.85, LOD 4.85, EOD 6.72; FRT shed 0.26, HOD 59.71, LOD 57.59, EOD 59.26; AIG gain 8.48, HOD 23.01, LOD 13.50, EOD 22.00; TNS gain 3.98, HOD 28.25, LOD 25.50, EOD 27.14.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,009, declined stock prices 1,728, unchanged stock prices 97, stock prices hitting new highs 60 and stock prices hitting new lows 3. 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: WFMI gain 3.88, HOD 30.13, LOD 28.50, EOD 28.70; APEI shed 2.75, HOD 34.00, LOD 31.54, EOD 33.57; BIDU shed 4.44, HOD 353.99, LOD 342.39, EOD 347.00; FSLR gain 1.56, HOD 151.00, LOD 146.00, EOD 149.54; ISRG shed 3.37, HOD 239.49, LOD 231.78, EOD 235.42; CTRP shed 4.58, HOD 53.23, LOD 48.78, EOD 50.09; GOOG shed 2.59, HOD 456.91, LOD 447.88, EOD 451.14; GRMN gain 6.48, HOD 33.90, LOD 31.25, EOD 33.66; ASCA shed 2.24, HOD 18.69, LOD 17.50, EOD 17.91; SYNA gain 0.15, HOD 25.85, LOD 24.60, EOD 25.15.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 254, declined stock prices 268, unchanged stock prices 60, stock prices hitting new highs 13 and stock prices hitting new lows 1.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Sept 09: EOD 998.75; Change -6.00
E-mini NASDAQ-100 (NQ) Sept 09: EOD 1,612.25; Change -18.00
E-mini DOW $5 (YM) Sept 09: EOD 9,234; Change -53
E-mini S&P MidCap 400 (MF) Sept 09: EOD 641.40; Change -5.50
Nikkei 225 (Yen) Sept 09: EOD 10,285; Change -165

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.6937 to U.S. Dollars 1.4416
Japanese Yen 94.9600 to U.S. Dollars 0.0105
British Pound 0.5883 to U.S. Dollars 1.6999
Canadian Dollar 1.0696 to U.S. Dollars 0.9349
Swiss Franc 1.0609 to U.S. Dollars 0.9426

COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (September 09) gain $0.55, EOD $71.97 per barrel ($US per barrel)
Heating Oil (September 09) gain $0.06, EOD $1.96 a gallon ($US per gallon)
Natural Gas (September 09) gain $0.04, EOD $4.04 per million BTU ($US per mmbtu.)
Unleaded Gas (September 09) shed $0.01, EOD $2.05 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (December 09) shed $3.40, EOD $966.30 ($US per Troy ounce)
Silver (September 09) gain $0.07, EOD $14.76 ($US per Troy ounce)
Platinum (October 09) gain $16.30, EOD $1,293.10 ($US per Troy ounce)
Copper (September 09) gain $0.02, EOD $2.81 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (October 09) gain $0.08, EOD $50.20
Pork Bellies (August 09) gain $1.00, EOD $81.00
Live Cattle (October 09) gain $0.10, EOD $89.83
Feeder Cattle (September 09) gain $0.58, EOD $101.15

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (December 09) shed $8.75, EOD $357.00
Soybeans (November 09) gain $13.50, EOD $1,045.00

BOND MARKET:
2 year EOD 99 18/32, change 0, Yield 1.21, Yield change 0.00
5 year EOD 99 16/32, change -6/32, Yield 2.72, Yield change 0.04
10 year EOD 94 26/32, change -31/32, Yield 3.76, Yield change 0.13
30 year EOD 94 25/32, change -1 24/32, Yield 4.57, change 0.11

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