Daily Market Commentary for October 16, 2008 from Millennium-Traders.Com

Fears over the recession have not faded and possibly after the economic data that was released today, recession fears may be enhanced as consumers begin to lock down their wallets as spending tightens. (read more)

Economic data released today:

Jobless Claims:
U.S. Jobless Claims for week of October 11 fell by 16K to 461K compared to survey of a drop by 13K; U.S. Jobless Claims Revised for week of October 4 to 377K from 378K; Hurricane Ike added 12K Jobless Claims in Texas; U.S. Real Average Weekly Earnings unchanged during September; U.S. Continuing Claims for week of October 4 rose by 40K to 3,711,000.

Consumer Price Index:
U.S. September Consumer Prices unchanged compared to consensus of an increase by 0.1 percent; U.S. September CPI Excluding Food & Energy increased by 0.1 percent compared to consensus of an increase by 0.2 percent; U.S. September CPI Unrounded fell by 0.031 percent; U.S. September CPI Unrounded Core rose by 0.141 percent; U.S. September CPI Energy Prices fell 1.9 percent; U.S. September CPI Food Prices rose by 0.6 percent; U.S. Housing CPI down for 2nd straight month which is 1st time since 2001.

Treasury International Capital:
Net foreign purchases of long-term (LT) securities were $14.0 billion. Net foreign purchases of long-term U.S. securities were negative $8.8 billion. Of this, net purchases by private foreign investors were $1.5 billion, and net purchases by foreign official institutions were negative $10.2 billion. U.S. residents sold a net $22.7 billion of long-term foreign securities. Net foreign acquisition of long-term securities, taking into account adjustments, is estimated to have been $0.9 billion. Foreign holdings of dollar-denominated short-term U.S. securities, including Treasury bills, and other custody liabilities increased $7.6 billion. Foreign holdings of Treasury bills increased $20.6 billion. Banks' own net dollar-denominated liabilities to foreign residents declined $8.9 billion. Monthly net TIC flows were negative $0.4 billion. Of this, net foreign private flows were $3.5 billion, and net foreign official flows were negative $3.9 billion.

Industrial Production:
U.S. September Industrial Production fell 2.8 percent compared to consensus of a drop by 0.8 percent; U.S. September Capacity Utilization fell 2.3 points at 76.4 percent compared to consensus of 78.0 percent; U.S. August Industrial Production Revised to a drop by 1.0 percent from a drop by 1.1 percent; U.S. August Capacity Use Unrevised at 78.7 percent; U.S. Industrial Production Drop in September biggest since 1974.

Philadelphia Fed Survey:
Philadelphia Fed October Business Index fell 37.5 versus September 3.8; Philadelphia Fed October Business Index Expected to fall by 8.7; Philadelphia Fed October Price Paid 7.2 versus September 31.5; Philadelphia Fed October Price Received 5.3 versus September 15.5; Philadelphia Fed October Employment fell 18.0 versus September drop of 0.9; Philadelphia Fed October New Orders fell 30.5 versus September 5.6; Philadelphia Fed October Shipments fell 18.8 versus September 2.6; Philadelphia Fed October Delivery Times fell 20.2 versus September drop of 5.1; Philadelphia Fed October Inventories fell 22.3 versus September drop of 22.9.

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 session on the world market as well as the emerging markets including the stock market closing bell price:
DOW (Dow Jones Industrial Average) triple digit gain of 401.35 points on the day to end the trading session at 8,979.26
NYSE (New York Stock Exchange) triple digit gain of 210.94 points to end the trading session at 5,970.90
National Association of Securities Dealers Automated Quotations (NASDAQ) gain of 89.38 points to end the trading session at 1,717.71
S&P 500 gain of 38.59 points to end the trading session at 946.43
FTSE All-World excluding U.S. loss of 2.26 points to end the trading session at 152.36
FTSE RAFI 1000 triple digit gain of 131.35 points to end the trading session at 3,705.68
BEL 20 (BEL20) triple digit loss of 136.21 points to end the trading session at 1,946.38
CAC 40 (CAC40) triple digit loss of 200.07 points to end the trading session at 3,181.00
FTSE100 (UKX100) triple digit loss of 218.20 points to end the trading session at 3,861.39
NIKKEI 225 (NIK/O) quadruple digit loss of 1,089.02 points to end the trading session at 8,458.45

New York Stock Exchange (NYSE) stock market indicators for the day:
Advanced stock prices 2,161 declined stock prices 1,082; unchanged stock prices 44; stock prices hitting new highs 3 and stock prices hitting new lows 439.
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: Peabody Energy Corporation (NYSE: BTU) stock price gained 4.44 points on the trading session, high on the trading session $28.68, low on the trading session $26.02 with a closing stock price at $28.68; Prudential Financial Incorporated (NYSE: PRU) stock price shed 4.54 points on the trading session, high on the trading session $48.23, low on the trading session $35.47 with a closing stock price at $41.49; Bunge Limited (NYSE: BG) stock price shed 0.89 points on the trading session, high on the trading session $41.19, low on the trading session $37.00 with a closing stock price at $38.36; Ultrashort Financial Corporation (NYSE: SKF) stock price shed 5.50 points on the trading session, high on the trading session $152.49, low on the trading session $128.80 with a closing stock price at $130.00.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators today:
Advanced stock prices 1,931; declined stock prices 990; unchanged stock prices 81; stock prices hitting new highs 2; stock prices hitting new lows 397.
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: Novellus Systems Incorporated (NasdaqGS: NVLS) stock price gained 0.11 points on the trading session, high on the trading session $15.30, low on the trading session $13.86 with a closing stock price at $14.59.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for today:
Advanced stock prices 538; declined stock prices 612; unchanged stock prices 71; stock prices hitting new highs 3 stock prices hitting new lows 137.

Chicago Board of Trade Futures Market activity for the day, at time of this posting for December 2008 Contracts:
E-mini S&P 500 (ES) end of day price 943.00 change 39.75
E-mini NASDAQ-100 (NQ) end of day price 1,323.25, change 94.25
E-mini S&P SmallCap 600 (SMP) end of day price 285.60, change 15.70
$5 DJIA (YM) end of day price 8,958 change 454

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7427 to U.S. Dollars 1.3465
Japanese Yen 101.460 to U.S. Dollars 0.0099
British Pound 0.5767 to U.S. Dollars 1.7339
Canadian Dollar 1.1807 to U.S. Dollars 0.8470
Swiss Franc 1.1359 to U.S. Dollars 0.8804

Commodity Markets:
Energy Sector: Light Crude (NYMEX: NYM) shed $4.69 on the day for a closing price of $69.85 a barrel ($US per barrel)
Heating Oil (NYMEX: NYM) shed $0.11 on the day for a closing price of $2.11 a gallon ($US per gallon)
Natural Gas (NYMEX: NYM) gained $0.08 on the day for a closing price of $7.22 per million BTU ($US per mmbtu.)
Unleaded Gas (NYMEX: NYM) shed $0.16 on the day for a closing price of $1.62 a gallon ($US per gallon)

Metals Markets:
Gold Market Price (COMEX: CMX) shed $34.50 on the day for a closing price of $804.50 ($US per Troy ounce)
Silver (COMEX: CMX) shed $0.55 on the day for a closing price of $9.64 ($US per Troy ounce)
Platinum (NYMEX: NYM) shed $83.90 on the day for a closing price of $891.30 ($US per Troy ounce)
Copper (COMEX: CMX) shed $0.13 on the day for a closing price of $2.09 ($US per pound)

Livestock and Meat Markets (cents per lb.):
Lean Hogs (Chicago Mercantile Exchange: CME) shed 2.10 on the day for a closing price of 55.98
Pork Bellies (Chicago Mercantile Exchange: CME) shed 0.28 on the day for a closing price of 84.70
Live Cattle (Chicago Mercantile Exchange: CME) shed 0.00 on the day for a closing price of 90.83
Feeder Cattle (Chicago Mercantile Exchange: CME) gained 1.00 on the day for a closing price of 96.63

Other Commodities (cents per bushel):
Corn (Chicago Board of Trade: CBT) shed 3.50 on the day for a closing price of 384.50
Soybeans (Chicago Board of Trade: CBT) shed 7.75 on the day for a closing price of 886.00

Bond Market:
2 year bond shed 3/32 on the day for a closing price of 100 23/32 with a Yield of 1.62, Yield Change 0.04
5 year bond gained 8/32 on the day for a closing price of 101 10/32 with a Yield of 2.83, Yield Change -0.05
10 year bond shed 1/32 on the day for a closing price of 100 9/32 with a Yield of 3.96, Yield Change 0.01
30 year bond shed 28/32 on the day for a closing price of 104 28/32 with a Yield of 4.35, Yield Change 0.05

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