Daily Market Commentary for March 15, 2011

Japan Update

Stocks were falling in today's session as investors fear that Friday's natural disasters could take a toll on Japan's economy. (Read more at http://www.millennium-traders.com/news/JapanUpdate.aspxMillennium-Traders.Com)

Economic data released today:

New York Empire State Manufacturing Index:
New York Fed March Employment 9.09 versus 3.61 in February; New York Fed March New Orders 5.81 versus 11.80 in February; New York Fed's March Manufacturing Index 17.50 versus 15.43 in February.

Import Price Index:
U.S. February Petroleum Import Prices rose 3.7%; U.S. February Non-Petroleum Import Prices rose 0.6%; U.S. February Import Prices rose 1.4%; Compared to Consensus of an increase by 0.9%; New York Fed March Prices Received 20.78 versus 16.87 in February.

TIC Net Long-Term Transactions:
Japan Net Buyer of U.S. Treasuries, Highest Holdings on Record; China Net Seller of U.S. Treasuries in January, Remains Top Holder; Foreigners Net Buyers $15.9B of U.S. Equities in January; Foreigners Net Buyers $655.0 M of U.S. Corp Bonds in January; Foreigners Net Buyers $11.3B of U.S. Agency Debt in January; Foreigners Net Buyers $46.5B U.S. Treasury Notes, Bonds in January; Net Foreign Capital Inflow $32.5B in January; Net Long Term Securities Purchases $51.5B in January; Net Foreign Long Term Securities Purchases $32.1B in January.

NAHB Housing Market Index:
U.S. NAHB March Housing Index 17 versus 16 in February.

Interest Rate Decision:
Fed Leaves Discount Rate Unchanged at 0.75%; FOMC: Voted 10-0 for Fed Funds Rate Action; Fed Keeps Fed Funds Range Unchanged at 0.0% to 0.25%.

FOMC Statement:
Unemployment Rate Remains Elevated; Will Pay Close Attention to Inflation and Expectations; Underlying Inflation is Subdued; Long-Term Inflation Expectations Stable; Expects Energy Impact on Inflation to Be Transitory; Commodity Price Rises Have Contributed To Inflation; Oil Supply Concerns Have Contributed To Sharp Price Rise; Commodity Prices Have Risen Significantly Since Summer; Housing Market Remains Depressed; Household Spending, Business Investment Expanding; Conditions in Labor Market Improving Gradually; Economic Recovery is on Firmer Footing; To Regularly Review Pace, Size of Bond Purchase Program; To Continue Bond Purchase Program; Fed Funds to Stay Exceptionally Low for Extended Period.

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 137.52 points, EOD 11,855.64
NYSE (New York Stock Exchange) shed 98.35, EOD 8,095.61
National Association of Securities Dealers Automated Quotations (NASDAQ) shed 33.78 points, EOD 2,667.19
S&P 500 (SPX) shed 14.83 points, EOD 1,281.56
BEL 20 (BEL20) shed 80.84 points, EOD 2,565.48
CAC 40 (CAC40) shed 97.19 points, EOD 3,780.85
FTSE100 (UKX100) shed 79.96 points, EOD 5,695.28
NIKKEI 225 (NIK/O) shed 1,015.34 points, EOD 8,605.15

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 742, declined stock prices 2,352, unchanged stock prices 84, stock prices hitting new highs 30 and stock prices hitting new lows 80. 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: AGQ shed 15.86, HOD 193.30, LOD 174.18, EOD 190.34; FAS shed 0.89, HOD 29.13, LOD 27.19, EOD 28.91; CCJ shed 0.04, HOD 32.80, LOD 28.38, EOD 32.58; CLF shed 2.52, HOD 86.50, LOD 83.16, EOD 86.10; WSM gain 4.51, HOD 39.75, LOD 34.68, EOD 39.49; CRM gain 1.13, HOD 126.77, LOD 120.24, EOD 126.07; EOG shed 0.92, HOD 106.48, LOD 102.65, EOD 105.61; CME shed 4.65 HOD 289.93, LOD 283.60, EOD 286.69.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 682, declined stock prices 2,048, unchanged stock prices 68, stock prices hitting new highs 27 and stock prices hitting new lows 132. 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: AAPL shed 7.56, HOD 347.84, LOD 340.10, EOD 346.00; SHAW shed 0.57, HOD 34.78, LOD 31.00, EOD 34.30; NFLX gain 16.11, HOD 219.20, LOD 202.00, EOD 217.31; FFIV gain 1.24, HOD 111.01, LOD 104.90, EOD 110.21.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 128, declined stock prices 372, unchanged stock prices 24, stock prices hitting new highs 3 and stock prices hitting new lows 19.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Mar 10: EOD 1284.25; Change -11.25
E-mini NASDAQ-100 (NQ) Mar 10: EOD 2,263.25; Change -26.25
E-mini DOW $5 (YM) Mar 10: EOD 11,813; Change -113
Nikkei 225 (Yen) Mar 10: EOD 9005; Change -370

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7142 to U.S. Dollars 1.40
Japanese Yen 80.8750 to U.S. Dollars 0.0124
British Pound 0.6218 to U.S. Dollars 1.6100
Canadian Dollar 0.9824 to U.S. Dollars 1.02
Swiss Franc 0.9175 to U.S. Dollars 1.09

COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (April 11) shed $4.01, EOD $97.18 per barrel ($US per barrel)
Heating Oil (April 11) gain $0.11, EOD $2.95 a gallon ($US per gallon)
Natural Gas (April 11) gain $0.02, EOD $3.94 per million BTU ($US per mmbtu.)
Unleaded Gas (April 11) shed $0.15, EOD $2.80 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (April 11) gain $32.10, EOD $1,392.80 ($US per Troy ounce)
Silver (May 11) shed $1.72, EOD $34.12 ($US per Troy ounce)
Platinum (April 11) shed $46.70, EOD $1,705.60 ($US per Troy ounce)
Copper (May 11) shed $0.04, EOD $4.14 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (June 11) shed $2.85, EOD $94.70
Pork Bellies (March 11) unchanged, EOD $117.00
Live Cattle (June 11) shed $3.00, EOD $117.00
Feeder Cattle (August 11) shed $3.0, EOD $133.85

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (May 11) shed $30.00, EOD $636.00
Soybeans (May 11) shed $70.00, EOD $1,270.00

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