Market Commentary for October 29, 2007 from Millennium-Traders.Com
A rather quiet trading session but, typical for a Monday. The Bulls had control of the trading action, with the major indices clearing riding in the green zone, through out the trading session. Trading ranges were fairly tight and trading volume was light. Not much news to create any ruckus in the markets and investors seem to have snuggled up to the sidelines ahead of the FOMC announcement on Interest Rates, on Wednesday. Crude oil moved over $93.00 a barrel, continuing the fear of what’s ahead at the gas pumps.
At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) posted a gain of 63.56 points on the day to end the session at 13,870.26; the NYSE (New York Stock Exchange) posted a gain of 67.09 points to end the session at 10,256.22; the NASDAQ posted a gain of 13.25 points for a close at 2,817.44; the S&P 500 moved higher by 5.70 points to end at 1,540.98 and the RUSSELL 2000 moved higher by 0.33 points to close at 821.72. The FTSE All-World Index ex-US (top Large/Mid Cap aggregate from over 2,700 stocks from the FTSE Global Equity Index Series (GEIS) which covers 90% of the world’s investable market capitalization) posted a gain of 2.82 points to close at 277.66 and the FTSE RAFI 1000 posted a gain of 23.15 points to close at 6,316.35.
Commodities Markets
The trend was higher across the board today for the Energy Sector: Light crude moved higher today by $1.67 to close at $93.53 a barrel; Heating Oil closed higher by $0.03 today at $2.48 a gallon; Natural Gas moved higher today by $0.17 to close at $7.97 per million BTU and Unleaded Gas moved higher today by $0.05 to close at $2.33 a gallon.
Metals Market ended the session mixed across the board today: Gold moved higher today by $5.10 to close at $792.60 an ounce; Silver moved higher by $0.15 to close at $14.43 per ounce; Platinum moved lower today by $3.60 to close at $1,465.50 an ounce and Copper closed lower by $0.02 today at $3.52 per pound.
On the Livestock and Meat Markets, the trend was mostly higher across the board today: Lean Hogs ended the day lower by $0.05 to close at $54.48; Pork Bellies ended the day higher by $0.58 at $84.10; Live Cattle ended the day higher by $0.23 at $95.35 and Feeder Cattle ended the day higher by $0.70 at $108.90.
Other Commodities: Corn moved higher today by $4.00 to close at $376.00 and Soybeans moved sharply higher today by $15.50 to end the session at $1,028.75.
Bonds were mostly higher across the board today: 2 year bond moved lower by 1/32 today to close at 99 21/32; 5 year bond moved higher by 2/32 to close at 99 7/32 today; 10 year bond moved higher by 7/32 today to close at 102 29/32 and the 30 year bond closed higher by 8/32 at 105 13/32 for the day.
The e-mini Dow ended the session today at 13,908 with a gain of 60 points on the trading session. The total Dow Exchange Volume for the day came in at 155,558 which are comprised of Electronic, Open Auction and Cash Exchange. Traders should review workshops available at the CBOT (Chicago Board of Trade) Educational in-person seminars schedules available on CBOT (Chicago Board of Trade) website.
The end of day results for the CBOT (Chicago Board of Trade) which is comprised of the total Exchange Volume for Futures and Options (EVFO) including Electronic, Open Auction and Cash Exchange ended the day at 3,623,736; Open Interest for Futures moved lower by 92,718 points to close at 9,634,952; the Open Interest for Options moved lower by 878,578 points to close at 8,157,446 and the Cleared Only closed higher by 36 points at 10,068 for a total Open Interest on the day of 17,802,466 for a total Change on the day with a loss of 971,260 points.
On the NYSE today, advancers came in at 1,846 decliners totaled 1,404 unchanged came in at 119; new highs came in at 311 and new lows came in at 69. Gainers and losers for the day as well as active day trading stocks on the NYSE: PetroChina Company Limited (PTR) posted a favorable gain of 7.83 points with a high on the day of $254.88, a low of $248.00 with a final trading price at $254.30; Suntech Power Holdings Corporation Limited (STP) provided nice day trading action for the active day trader with a high on the session of $62.18, a low of $54.80 with a gain on the day of 6.74 points to tack on 12.22% for a final trading price at $61.90; Office Depot Incorporated (ODP) moved lower on the session to shed 13.75% for a loss of 2.79 points for a closing price of $17.50; Morton’s Restaurant Group Incorporated (MRT) posted a hefty loss of 17.49% to move lower by 3.01 points with a closing price of $14.20; Longtop Financial Technologies Limited (LFT) shed 10.52% on the session for a loss of 3.15 points with a high on the day of $31.22, a low of $26.05 for a closing price at $26.80 and Goldman Sachs Group Incorporated (GS) pounced higher on the day for a gain of 7.94 points with a high on the trading session of $244.98, a low of $235.07 with a closing price of $243.86.
On the NASDAQ today, advanced totaled 1,497; decliners totaled 1,483; unchanged came in at 134; new highs came in at 171 and new lows came in at 117. Gainers and losers for the day as well as, active day trading stocks on the NASDAQ: China Sunergy Company Limited (CSUN) bolted higher on the day with a gain of 28.15% to tack on 2.57 points with a closing price at $11.70; CTC Media Incorporated (CTCM) soared higher on the day to post a gain of 19.18% for a climb higher by 4.14 points with a final trading price at $25.72; Winn-Dixie Stores Incorporated (WINN) tacked on a nice gain of 19.07% for a gain of 3.55 points with a high on the day of $22.93, a low of $18.89 to close at $22.17; Schnitzer Steel Industries Incorporated (SCHN) tumbled lower on the day to shed 12.01 points for a loss on the day of 15.44% with a high on the day of $70.01, a low of $64.55 for a final trading price at $65.76; Baidu.com Incorporated (BIDU) soared higher on the day with a gain of 12.02 points with a high on the session of $367.75, a low of $357.29 for a final trading price at the bell of $365.41.
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