Daily Market Commentary for February 16, 2011

Pharmaceutical Mergers

Stocks were rallying today after news broke of new pharmaceutical mergers and better than expected earnings. (Read more at Millennium-Traders.Com)

Economic data released today:

MBA Mortgage Applications:
U.S. MBA Market Index fell 9.5% at 420.4; Last Week 464.7; U.S. MBA Purchase Index fell 5.9% at 175.1; Last Week 186.1; U.S. MBA Refinance Index fell 11.4% at 1,848.6; Last Week 2,086.4.

PPI (MoM):
U.S. December PPI Revised to +0.9% from +1.1%; U.S. January Passenger Car Prices fell 0.1%; U.S. January PPI Energy Prices rose 1.8%; U.S. January PPI Crude Goods rose 3.3%; Core rose 4.0%; U.S. January PPI Intermediate Goods rose 1.1%; Core rose 1.0%; U.S. January Producer Prices rose 0.8%; Compared to Consensus of an increase by 0.9%; U.S. January PPI Ex-Food & Energy rose 0.5%; Compared to Consensus of an increase by 0.2%.

Housing Starts:
December Housing Starts Revised to -5.1% from -4.3%; U.S. January Housing Starts rose 14.6% to 596K; Compared to Consensus of an increase by 0.2%.

Building Permits:
Building Permits fell 10.4% to 562K Rate in January.

Capacity Utilization Rate:
U.S. January Capacity Utilization fell 0.1 Point at 76.1%; Compared to Consensus of 76.3%; U.S. December Capacity Use Revised to 76.2% from 76.0%.

Industrial Production (MoM):
U.S. January Industrial Production fell 0.1%; Compared to Consensus of an increase by 0.5%; U.S. December Industrial Production Revised to +1.2% from +0.8%.

Crude Oil Inventories released by DOE:
U.S. Crude Oil Stockpiles rose 0.86 Million Barrels at 345.917 Million Barrels; U.S. Crude Oil Stockpiles rose 0.86 Million Barrels in Week; was Seen increasing by 1.7 Million Barrels; U.S. Gasoline Stockpiles rose 0.205 Million Barrels at 241.096 Million Barrels; U.S. Gasoline Stockpiles rose 0.205 Million Barrels in Week; was Seen increasing by 1.2 Million Barrels; U.S. Distillate Stockpiles fell 3.096 Million Barrels at 161.27 Million Barrels; U.S. Distillate Stockpiles fell 3.096 Million Barrels in Week; was Seen decreasing by 0.8 Million Barrels; U.S. Refineries Ran at 81.2% capacity versus 84.7% capacity Week Ago; U.S. Refineries Ran at 81.2% capacity; Seen 84.50% capacity.

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 59.22 points, EOD 12,285.86
NYSE (New York Stock Exchange) gain 38.53, EOD 8,422.20
National Association of Securities Dealers Automated Quotations (NASDAQ) gain 20.84 points, EOD 2,825.19
S&P 500 (SPX) gain 8.27 points, EOD 1,336.28
BEL 20 (BEL20) gain 24.83 points, EOD 2,755.61
CAC 40 (CAC40) gain 40.92 points, EOD 4,151.26
FTSE100 (UKX100) gain 48.19 points, EOD 6,085.27
NIKKEI 225 (NIK/O) gain 61.62 points, EOD 10,808.29

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 2,292, declined stock prices 823, unchanged stock prices 88, stock prices hitting new highs 333 and stock prices hitting new lows 19. 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: ANF gain 4.01, HOD 57.62, LOD 55.33, EOD 57.42; DE gain 1.74, HOD 97.36, LOD 94.02, EOD 95.36; FDO gain 9.43, HOD 55.62, LOD 53.14, EOD 53.39; AGQ shed 0.59, HOD 156.54, LOD 149.57, EOD 153.37; BBY shed 0.23, HOD 33.22, LOD 32.33, EOD 32.65; CF gain 0.67, HOD 147.00, LOD 143.01, EOD 144.57; POT gain 1.67, HOD 186.40, LOD 183.06, EOD 185.31.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,778, declined stock prices 927, unchanged stock prices 115, stock prices hitting new highs 204 and stock prices hitting new lows 32. 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: NFLX shed 3.09, HOD 244.89, LOD 236.34, EOD 237.70; SINA shed 3.61, HOD 90.86, LOD 88.66, EOD 89.73; AAPL gain 3.15, HOD 364.90, LOD 360.50, EOD 363.05.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 302, declined stock prices 181, unchanged stock prices 25, stock prices hitting new highs 22 and stock prices hitting new lows 5.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Mar 10: EOD 1333.75; Change 7.50
E-mini NASDAQ-100 (NQ) Mar 10: EOD 2,395.75; Change 14.25
E-mini DOW $5 (YM) Mar 10: EOD 12,260; Change 58
Nikkei 225 (Yen) Mar 10: EOD 10,870; Change 120

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7369 to U.S. Dollars 1.36
Japanese Yen 83.6250 to U.S. Dollars 0.012
British Pound 0.6211 to U.S. Dollars 1.6100
Canadian Dollar 0.9848 to U.S. Dollars 1.02
Swiss Franc 0.9590 to U.S. Dollars 1.04

COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (March 11) gain $0.67, EOD $84.99 per barrel ($US per barrel)
Heating Oil (March 11) gain $0.94, EOD $2.77 a gallon ($US per gallon)
Natural Gas (March 11) shed $0.05, EOD $3.98 per million BTU ($US per mmbtu.)
Unleaded Gas (March 11) gain $0.05, EOD $2.54 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (April 11) gain $1.00, EOD $1,375.10 ($US per Troy ounce)
Silver (March 11) shed $0.06, EOD $30.63 ($US per Troy ounce)
Platinum (April 11) gain $2.70, EOD $1,834.30 ($US per Troy ounce)
Copper (March 11) shed $0.06, EOD $4.47 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (April 11) shed $0.65, EOD $91.90
Pork Bellies (February 11) gain $2.00, EOD $121.00
Live Cattle (April 11) gain $0.42, EOD $114.20
Feeder Cattle (March 11) gain $1.95, EOD $130.48

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (March 11) unchanged, EOD $701.00
Soybeans (March 11) shed $2.75, EOD $1,378.50

Opt-in to our free Weekly Market News sent via email, first trading day of the week. Review market news and trading action for the week plus, see what is ahead for the upcoming trading week.

Detailed performance by service and date on our News & Commentary. Access our FREE Monthly Trading Lesson posted on our website.

One week free trial available to our Weekly Swing Trades service.

Follow us now on Twitter

Viewers Poll:
Will the market trading volume increase to the upside now that President Mubarak of Egypt has stepped down?
Cast your vote on our Viewers Poll

Thanks for reading
Millennium-Traders.Com