Fed Announcement

Daily Market Commentary for November 3, 2010

Fed Announcement

Stocks turned lower ahead of the highly anticipated Fed announcement this afternoon. (Read more at Millennium-Traders.Com)

Economic data released today:

MBA Mortgage Applications:
U.S. MBA Market Index fell 5.0% at 787.3; Last Week 828.9; U.S. MBA Purchase Index rose 1.4% at 178.9; Last Week 176.4; U.S. MBA Refinance Index fell 6.4% at 4,328.8; Last Week 4,626.1.

ADP Nonfarm Employment Change (MoM):
ADP October U.S. Private Sector Jobs Expected to rise 22,000; ADP October U.S. Private Sector Jobs rose 43,000.

ISM Non-Manufacturing Index:
U.S. ISM October Non-Manufacturing New Orders Index 56.7 versus September 54.9; U.S. ISM October Non-Manufacturing Prices Index 68.3 versus September 60.1; U.S. ISM October Non-Manufacturing Employment Index 50.9 versus September 50.2; U.S. ISM October Non-Manufacturing Business Index 58.4 versus September 52.8; U.S. ISM October Non-Manufacturing PMI Expected 53.5; U.S. ISM October Non-Manufacturing PMI 54.3 versus September 53.2.

Factory Orders (MoM):
August Factory Orders Revised to Unchanged from a decrease by 0.5%; September Durable Goods Revised to rise 3.5% from an increase by 3.3%; September Factory Orders, Excluding Defense, rose 1.9%; September Factory Orders, Excluding Transportation, rose 0.4%; U.S. Factory Orders rose 2.1% in September; Compared to Consensus of an increase by 1.6%.

Crude Oil Inventories as released by DOE:
U.S. Refineries Ran at 81.8% Capacity; was Seen at 83.90% Capacity; U.S. Refineries Ran at 81.8% Capacity versus 83.7% Capacity a Week Ago; U.S. Distillate Stockpiles fell 3.568 Million Barrels in Week; was Seen decreasing by 1 Million Barrels; U.S. Distillate Stockpiles fell 3.568 Million Barrels at 164.874 Million Barrels; U.S. Gasoline Stockpiles fell 2.689 Million Barrels in Week; was Seen decreasing by 0.4; Million Barrels U.S. Gasoline Stockpiles fell 2.689 Million Barrels at 212.253 Million Barrels; U.S. Crude Oil Stockpiles rose 1.95 Million Barrels in Week; was Seen increasing by 0.8 Million Barrels; U.S. Crude Oil Stockpiles rose 1.95 Million Barrels at 368.156 Million Barrels.

FOMC Statement and Interest Rate Decision:
Fed Keeps Fed Funds Range Unchanged at 0.0% to 0.25%; Voted 10-1 for Fed Funds Rate Action; Hoenig Dissents; Fed Leaves Discount Rate Unchanged at 0.75%; Progress on Inflation Has Been Disappointingly Slow; Pace of Recovery in Output, Employment Remains Slow; Core Inflation below Levels Consistent with Mandate; Core Inflation Has Trended Lower in Recent Quarters; Fed to Temporarily Relax 35% Per-Issue Limit on Holdings; Fed Funds to Stay Exceptionally Low for Extended Period; Fed to Buy Treasuries Ranging from 1.5 to 30 Years Duration; Fed Sees Average Duration of Treasury Purchases 5-6 Years; Fed Plans to Reinvest $250B-$300B of Mortgage Proceeds by 2Q '11; Fed to Adjust Treasury Purchase Program as Needed; Fed to Buy U.S. Treasuries in Bid to Lift Weak Economy; Fed to Buy $600B More of Long-Term Treasuries by End of 2Q '11; Fed's New Treasuries Purchases Would Average $75B a Month.

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 26.94 points, EOD 11,215.66
NYSE (New York Stock Exchange) gain 26.15, EOD 7,608.29
National Association of Securities Dealers Automated Quotations (NASDAQ) gain 5.12 points, EOD 2,538.64
S&P 500 (SPX) gain 3.64 points, EOD 1,197.21
BEL 20 (BEL20) shed 32.85 points, EOD 2,663.84
CAC 40 (CAC40) shed 22.78 points, EOD 3,842.94
FTSE100 (UKX100) shed 8.46 points, EOD 5,748.97
NIKKEI 225 (NIK/O) unchanged, EOD 9,159.98

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 1,625, declined stock prices 1,410, unchanged stock prices 93, stock prices hitting new highs 225 and stock prices hitting new lows 9. 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: EOG shed 9.34, HOD 90.49, LOD 86.00, EOD 88.39; LVS gain 0.73, HOD 49.85, LOD 48.11, EOD 49.77; WR shed 0.22, HOD 25.50, LOD 25.07, EOD 25.27; FDX gain 0.15, HOD 47.42, LOD 46.61, EOD 47.17; DVN gain 2.24, HOD 69.00, LOD 65.37, EOD 68.17; BLK shed 7.37, HOD 168.90, LOD 164.01, EOD 165.66; CME gain 0.55, HOD 291.44, LOD 285.46, EOD 289.50; CRM gain 1.01, HOD 116.19, LOD 113.64, EOD 116.44; EP shed 0.50, HOD 13.47, LOD 12.51, EOD 13.03.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,475, declined stock prices 1,140, unchanged stock prices 166, stock prices hitting new highs 168 and stock prices hitting new lows 36. 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: OPEN gain 6.62, HOD 72.20, LOD 67.20, EOD 68.02; FFIV gain 5.57, HOD 122.96, LOD 116.51, EOD 122.92; NFLX shed 0.15, HOD 174.04, LOD 169.03, EOD 171.46; AAPL gain 3.44, HOD 312.88, LOD 308.53, EOD 312.80; SFSF gain 0.47, HOD 29.15, LOD 27.39, EOD 27.98; STEC gain 1.36, HOD 17.25, LOD 16.40, EOD 16.68; CADX shed 1.17, HOD 8.38, LOD 7.51, EOD 7.80.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 234, declined stock prices 222, unchanged stock prices 41, stock prices hitting new highs 20 and stock prices hitting new lows 3.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Mar 10: EOD 1192.50; Change -0.25
E-mini NASDAQ-100 (NQ) Mar 10: EOD 2,152.50; Change 2.25
E-mini DOW $5 (YM) Mar 10: EOD 11,148; Change -4
Nikkei 225 (Yen) Mar 10: EOD 9,250; Change 40

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7088 to U.S. Dollars 1.4000
Japanese Yen 81.2450 to U.S. Dollars 0.0123
British Pound 0.6218 to U.S. Dollars 1.6100
Canadian Dollar 1.0085 to U.S. Dollars 0.9923
Swiss Franc 0.9732 to U.S. Dollars 1.03

COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (December 10) gain $0.79, EOD $84.69 per barrel ($US per barrel)
Heating Oil (December 10) gain $0.03, EOD $2.33 a gallon ($US per gallon)
Natural Gas (December 10) shed $0.02, EOD $3.85 per million BTU ($US per mmbtu.)
Unleaded Gas (December 10) gain $0.02, EOD $2.14 gallon ($US per gallon)

Metals Markets - Comex:
Gold (December 10) shed $19.30, EOD $1,337.60 ($US per Troy ounce)
Silver (December 10) shed $0.40, EOD $24.44 ($US per Troy ounce)
Platinum (January 11) shed $21.90, EOD $1,697.20 ($US per Troy ounce)
Copper (December 10) shed $0.05, EOD $3.78 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (December 10) gain $0.57, EOD $66.77
Pork Bellies (February 11) gain $0.50, EOD $104.50
Live Cattle (December 10) shed $0.55, EOD $97.70
Feeder Cattle (January 11) shed $0.65, EOD $111.40

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (December 10) gain $5.25, EOD $581.00
Soybeans (January 11) gain $3.50, EOD $1,237.50

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