Thread: Merrill Lynch Online

Daily Market Commentary for July 7, 2008 from Millennium-Traders.Com

Merrill Lynch (NYSE: MER) looks to be scrambling for cash by selling 25% of its 49% stake in BlackRock and its 20% stake in Bloomberg. (read more)

At the closing bell on the Stock Exchange, here is how the major world indices and major U.S. indices ended the session on the world market as well as the emerging markets including the stock market closing price:

DOW (Dow Jones Industrial Average) loss of 56.58 points on the day to end the trading session at 11,231.96
NYSE (New York Stock Exchange) loss of 81.33 points to end the trading session at 8,400.21
NASDAQ loss of 2.06 points to end the trading session at 2,243.32
S&P 500 loss of 10.59 points to end the trading session at 1,252.31
FTSE All-World ex-U.S. loss of 0.37 points to end the trading session at 225.75
FTSE RAFI 1000 loss of 48.55 points to end the trading session at 4,837.99
BEL 20 (BEL20) loss of 20.12 points to end the trading session at 3,067.45
CAC 40 (CAC40) loss of 1.4 points to end the trading session at 4,342.59
FTSE100 (UKX100) gain of 36.1 points to end the trading session at 5,512.7
NIKKEI 225 (NIK/O) gain of 94.64 points to end the trading session at 13,360.04

Market trends on the New York Stock Exchange (NYSE) today: advanced stocks 982; declined stocks 2,216; unchanged stocks 90; stocks hitting new highs 9; stocks hitting new lows 577. List of volatile stocks 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: BCE Incorporated (NYSE: BCE) gained 3.90 points on the trading session, high on the trading session $38.98, low on the trading session $38.32 for a closing stock price at $38.65; Marshall & Ilsely Corporation (NYSE: MI) shed 1.60 points on the trading session, high on the trading session $13.56, low on the trading session $12.24 for a closing stock price at $12.50; Bunge Limited (NYSE: BG) gained 1.99 points on the trading session, high on the trading session $100.41, low on the trading session $97.52 for a closing stock price at $99.12; SunTrust Banks Incorporated (NYSE: STI) shed 3.18 points on the trading session, high on the trading session $36.71, low on the trading session $30.92 for a closing stock price at $31.74; Flowserve Corporation (NYSE: FLS) gained 7.37 points on the trading session, high on the trading session $124.14, low on the trading session $116.31 for a closing stock price at $122.02; Monsanto Company (NYSE: MON) shed 1.57 points on the trading session, high on the trading session $122.82, low on the trading session $115.54 for a closing stock price at $118.64; Intrepid Potash Incorporated (NYSE: IPI) shed 2.80 points on the trading session, high on the trading session $57.75, low on the trading session $51.76 for a closing stock price at $53.14; Devon Energy Corporation (NYSE: DVN) shed 7.00 points on the trading session, high on the trading session $117.33, low on the trading session $109.22 for a closing stock price at $110.85; Furniture *****s International (NYSE: FBN) shed 1.12 points on the trading session, high on the trading session $11.98, low on the trading session $9.39 for a closing stock price at $11.00; MasterCard Incorporated (NYSE: MA) shed 7.64 points on the trading session, high on the trading session $259.11, low on the trading session $243.34 for a closing stock price at $246.10; United States Steel Corporation (NYSE: X) gained 1.95 points on the trading session, high on the trading session $163.38, low on the trading session $155.70 for a closing stock price at $157.75; Potash Corporation Saskatchewan (NYSE: POT) shed 2.02 points on the trading session, high on the trading session $217.18, low on the trading session $207.25 for a closing stock price at $209.98; Mosaic Company (NYSE: MOS) shed 2.86 points on the trading session, high on the trading session $135.96, low on the trading session $126.86 for a closing stock price at $129.43; Cash America International Incorporated (NYSE: CSH) gained 5.16 points on the trading session, high on the trading session $37.82, low on the trading session $32.19 for a closing stock price at $37.26.

Market trends on the NASDAQ today: advanced stocks 991; declined stocks 1,933; unchanged stocks 126; stocks hitting new highs 10; stocks hitting new lows 492. List of volatile stocks 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: ***** Incorporated (NasdaqGS: AAPL) gained 5.18 points on the trading session, high on the trading session $177.13, low on the trading session $171.90 for a closing stock price at $175.30; Bankrate Incorporated (NasdaqGS: RATE) shed 4.36 points on the trading session, high on the trading session $30.16, low on the trading session $25.05 for a closing stock price at $28.64;Baidu.com Incorporated (NasdaqGS: BIDU) gained 11.65 points on the trading session, high on the trading session $332.33, low on the trading session $320.01 for a closing stock price at $327.65; First Solar Incorporated (NasdaqGS: FSLR) gained 2.80 points on the trading session, high on the trading session $260.00, low on the trading session $246.51 for a closing stock price at $256.45; Google Incorporated (NasdaqGS: GOOG) gained 6.75 points on the trading session, high on the trading session $549.00, low on the trading session $535.60 for a closing stock price at $543.75.

Market trends on the American Stock Exchange (AMEX) today: advanced stocks 407; declined stocks 783; unchanged stocks 72; stocks hitting new highs 23; stocks hitting new lows 169.

Chicago Board of Trade Futures Market activity for the day, September 2008 Contracts, at time of this posting:
E-mini S&P 500 (ES) end of day price 1251.75, change -13.25
E-mini NASDAQ-100 (NQ) end of day price 1828.75, change 6.75
E-mini S&P SmallCap 600 (SMP) end of day price 352.40, change 0.00
$5 DJIA (YM) end of day price 11,220, change -68

World Currencies at time of this posting:
Euro 0.6389 to U.S. Dollars 1.5653
Japanese Yen 107.57 to U.S. Dollars 0.0093
British Pound 0.5076 to U.S. Dollars 1.9699
Canadian Dollar 1.0168 to U.S. Dollars 0.9835
Swiss Franc 1.0323 to U.S. Dollars 0.9687

Commodities Markets:
Energy Sector: Light Crude (NYM) shed $3.92 on the day for a closing price of $141.37 a gallon ($US per bbl.); Heating Oil (NYM) shed $0.14 on the day for a closing price of $3.97 a gallon ($US per gal.); Natural Gas (NYM) shed $0.60 on the day for a closing price of $12.98 per million BTU ($US per mmbtu.); Unleaded Gas (NYM) shed $0.09 on the day for a closing price of $3.48 a gallon ($US per gal.).

Metals Markets: Gold Market Price (CMX) shed $4.80 on the day for a closing price of $928.80 ($US per Troy oz.); Silver (CMX) shed $0.45 on the day for a closing price of $17.92 ($US per Troy oz.); Platinum (NYM) shed $46.60 on the day for a closing price of $1,983.80 ($US per Troy oz.) and Copper (CMX) shed $0.10 on the day for a closing price of $3.85 ($US per lb.).

Livestock and Meat Markets (cents per lb.): Lean Hogs (CME) shed 0.63 on the day for a closing price of 70.33; Pork Bellies (CME) shed 3.0 on the day for a closing price of 64.05; Live Cattle (CME) shed 1.0 on the day for a closing price of 102.30; Feeder Cattle (CME) shed 0.55 on the day for a closing price of 111.03.

Other Commodities (cents per bu.): Corn (CBT) shed 30.00 on the day for a closing price of 747.00 and Soybeans (CBT) shed 70.00 on the day for a closing price of 1,561.00.

Bond action for the day: 2 year bond gained 1/32 on the day for a closing price of 100 21/32 with a Yield of 2.46, Yield Change -0.07; 5 year bond gained 2/32 on the day for a closing price of 100 13/32 with a Yield of 3.20, Yield Change -0.09; 10 year bond gained 1/32 on the day for a closing price of 99 5/32 with a Yield of 3.92, Yield Change -0.06; the 30 year bond gained 2/32 on the day for a closing price of 97 9/32 with a Yield of 4.49, Yield Change -0.05.

U.S. Conference Board June Employment Trends Index fell by 0.6% to 111.9 and U.S. Conference Board May Employment Trends Index Revised to 112.6 from 113.7.

Comments from President Federal Reserve Bank of San Francisco Janet L. Yellen: Inflation has become an increasing concern; inflation should moderate early next year; commodity prices likely to level off; recent spending data 'somewhat reassuring'; economy to grow modestly in 2008, pick up in 2009; house prices may keep falling well into 2009; markets may get worse before they improve; market function likely to improve by 2009; cost of credit likely to be higher in future; credit problems arising beyond home mortgages; inflation expectations reasonably well anchored; credit conditions tighter despite rate cut; positive about foreclosure aid bill; says Fed, ECB going in `different directions'; expects unemployment 'uptick' through 2009; so far 'we've skirted a recession'; neutral on need for new economic stimulus package.

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