Thread: Global Financial Crisis

Daily Market Commentary for January 13, 2009 from Millennium-Traders.Com

The seeds of the credit crisis were planted during a decade of benign economic conditions, including low interest rates and low inflation. (read more)

Economic data released today:

U.S. Trade Deficit:
U.S. November Trade Deficit totaled $40.44B compared to consensus of $51.0B; October Trade Balance revised to Deficit of $56.69B from Deficit of $57.19B; November Exports came in at $142.80B which is down 5.8%; November Imports came in at $183.25B down 12.0%.

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) loss of 25.41 points to end the trading session at 8,448.56
NYSE (New York Stock Exchange) loss of 12.19 points to end the trading session at 5,538.84
National Association of Securities Dealers Automated Quotations (NASDAQ) gain of 7.67 points to end the trading session at 1,546.46
S&P 500 (SPX) gain of 1.53 points to end the trading session at 871.79
FTSE All-World Index data excluding U.S. (AW01UK) loss of 0.81 points to end the trading session at 144.20
FTSE RAFI 1000 gain of 7.17 points to end the trading session at 3,348.23
BEL 20 (BEL20) loss of 7.52 points to end the trading session at 1,9763.02
CAC 40 (CAC40) loss of 48.23 points to end the trading session at 3,197.89
FTSE100 (UKX100) loss of 27.04 points to end the trading session at 4,399.15
NIKKEI 225 (NIK/O) triple digit loss of 422.89 points at the end the trading session at 8,413.91

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 1,606, declined stock prices 1,606, unchanged stock prices 95, stock prices hitting new highs 2 and stock prices hitting new lows 26. 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: Varian Medical Systems Incorporated (NYSE: VAR) stock price shed 2.90 points on the trading session, high on the trading session $37.88, low on the trading session $36.36, with a closing stock price at $36.96; Alcoa Incorporated (NYSE: AA) stock price shed 0.51 points on the trading session, high on the trading session $9.98, low on the trading session $9.30, with a closing stock price at $9.55; CSX Corporation (NYSE: CSX) stock price shed 0.58 points on the trading session, high on the trading session $32.94, low on the trading session $30.69, with a closing stock price at $31.64; ProShares Ultrashort S&P 500 (NYSE: SDS) stock price shed 0.07 points on the trading session, high on the trading session $76.74, low on the trading session $74.07, with a closing stock price at $75.28; ProShares Ultrashort Financials (NYSE: SKF) stock price shed 3.56 points on the trading session, high on the trading session $136.42, low on the trading session $124.25, with a closing stock price at $126.90; ProShares Ultrashort Real Estate (NYSE: SRS) stock price shed 3.83 points on the trading session, high on the trading session $67.98, low on the trading session $61.03, with a closing stock price at $61.48; CME Group Incorporated (NYSE: CME) stock price shed 4.16 points on the trading session, high on the trading session $192.55, low on the trading session $181.16, with a closing stock price at $185.02; PowerShares DB Crude Oil (NYSE: DTO) stock price shed 8.02 points on the trading session, high on the trading session $169.08, low on the trading session $156.53, with a closing stock price at $160.43.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,510, declined stock prices 1,274, unchanged stock prices 144, stock prices hitting new highs 4 and stock prices hitting new lows 42. 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: Apollo Group Incorporated (NasdaqGS: APOL) stock price shed 4.93 points on the trading session, high on the trading session $86.40, low on the trading session $78.81, with a closing stock price at $81.59; ZymoGenetics Incorporated (NasdaqGS: ZGEN) stock price gained 1.02 points on the trading session, high on the trading session $4.80, low on the trading session $3.52, with a closing stock price at $4.14; Baidu Incorporated (NasdaqGS: BIDU) stock price gained 1.10 points on the trading session, high on the trading session $119.73, low on the trading session $113.92, with a closing stock price at $115.20; First Solar Incorporated (NasdaqGS: FSLR) stock price shed 8.92 points on the trading session, high on the trading session $146.96, low on the trading session $136.17, with a closing stock price at $141.00.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 278, declined stock prices 290, unchanged stock prices 71, stock prices hitting new highs 1 and stock prices hitting new lows 6.

Chicago Board of Trade Futures Market for the day, at time of this posting: n/a

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7578 to U.S. Dollars 1.3196
Japanese Yen 89.1300 to U.S. Dollars 0.0112
British Pound 0.6897 to U.S. Dollars 1.4499
Canadian Dollar 1.2244 to U.S. Dollars 0.8167
Swiss Franc 1.1181 to U.S. Dollars 0.8944

COMMODITY MARKETS:

Energy Sector - Nymex:
Light Crude (February 09) gained $0.19 on the trading session for a closing price of $37.78 per barrel ($US per barrel)
Heating Oil (February 09) gained $0.04 on the trading session for a closing price of $1.51 a gallon ($US per gallon)
Natural Gas (March 09) shed $0.36 on the trading session for a closing price of $5.17 per million BTU ($US per mmbtu.)
Unleaded Gas (February 09) gained $0.06 on the trading session for a closing price of $1.15 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (February 09) shed $0.30 on the trading session for a closing price of $820.70 ($US per Troy ounce)
Silver (March 09) shed $0.07 on the trading session for a closing price of $10.68 ($US per Troy ounce)
Platinum (April 09) shed $17.90 on the trading session for a closing price of $949.00 ($US per Troy ounce)
Copper (March 09) gained $0.06 on the trading session for a closing price of $1.55 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (February 09) shed 0.03 on the trading session for a closing price of 61.45
Pork Bellies (February 09) gained 0.45 on the trading session for a closing price of 85.00
Live Cattle (February 09) gained 1.18 on the trading session for a closing price of 84.08
Feeder Cattle (March 09) gained 1.58 on the trading session for a closing price of 94.90

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (March 09) shed 18.25 on the trading session for a closing price of 362.50
Soybeans (March 09) gained 5.50 on the trading session for a closing price of 971.50

BOND MARKET:

2 year Bond Closing price 100 8/32, change 0, Yield 0.74, Yield change 0.00
5 year Bond closing price of 100 9/32, change 1/32, Yield 1.43, Yield change -0.15
10 year Bond closing price 112 25/32, change 5/32, Yield 2.28, Yield change -0.02
30 year Bond closing price 129 8/32, change - 4/32, Yield 2.99, Yield change 0.01

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Millennium-Traders.Com

Those seeds were sewn in september 2007.

Why Forex said "Those seeds were sewn in september 2007."
Can you give us something more?

The blame for the crisis cannot simply be blamed on one country, or an individual, but what we have to realize is that our egoistic, appalling attitude towards each other, is the real reason for the crisis.

Our nature is exploitive of our fellow man as has been clearly demonstrated with the whole sub-prime mortgage fiasco. Lets face it sub-prime mortgage lenders were not thinking when they offered there "deals." How can we help our fellow man ?. What they were thinking was: How can we line our pockets ? and stuff our fellow man in the process! It is this attitude that is causing all of our problems and leading us into an abyss.

What humans now have to adopt is a nature that looks after it's fellow man and not one that exploits its fellow man.


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