Thread: Economic Stimulus Package

Daily Market Commentary for February 6, 2009 from Millennium-Traders.Com

Moving higher on the possible passage of the economic stimulus package, major U.S. indices were green across the board. (read more)

Economic data released today:

Employment Situation:
U.S. January Nonfarm Payrolls fell by 598K compared to consensus of a drop by 525K; U.S. January Unemployment Rate 7.6% compared to consensus of 7.5%; U.S. January Average Hourly Earnings rose $0.05 to $18.46; U.S. January Manufacturing Payrolls fell 207K; U.S. January Service-Producing Payrolls fell 279K; U.S. January Overall Workweek no change from 33.3 Hours; U.S. December Payrolls Revised to a drop by 577K from a drop by 524K; U.S. December Unemployment Left Unrevised at 7.2%; U.S. Lost 3.6M Jobs since Recession began with half during last 3 months; U.S. January Employment Loss most since December 1974; U.S. Unemployment Rate Highest since September 1992.

Consumer Credit:
U.S. December Consumer Credit Decreased $6.6 Billion; U.S. November Consumer Credit Revised to a drop by $11.0 Billion from a drop by $7.9 Billion; U.S. Consumer Credit Falls Third Straight Month in December. Consumers borrowing in December dropped for a third straight month, pulling support away from the slumping economy. Outstanding consumer credit decreased at a seasonally adjusted annual rate of 3.1% or $6.6 billion, to $2.562 Trillion per the Federal Reserve. June 1991through December 1991 was the last time we saw three or more consecutive declines. In November, credit fell $11.0 Billion and was revised down from a previously estimated decrease of $7.9 Billion. The $11.0 Billion drop was the largest decrease since a drop of $17.8 Billion during April 1992. Consumer credit data excludes home mortgages and other real estate-secured loans as they tend to be frequently revised. Revolving debt dropped by $6.3 Billion to $963.5 billion or 7.8% in December. Credit in November fell $6.9 Billion. Non-revolving credit decreased in December by 0.2% or $288 Million to $1.599 Trillion. Credit in November fell 3.1% or $4.1 Billion.

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) triple digit gain of 217.52 points to end the trading session at 8,280.59
NYSE (New York Stock Exchange) triple digit gain of 149.27 points to end the trading session at 5,475.28
National Association of Securities Dealers Automated Quotations (NASDAQ) gain of 45.47 points to end the trading session at 1,591.71
S&P 500 (SPX) gain of 22.75 points to end the trading session at 868.60
BEL 20 (BEL20) gain of 9.66 points to end the trading session at 1,916.88
CAC 40 (CAC40) gain of 56.50 points to end the trading session at 3,122.79
FTSE100 (UKX100) gain of 62.94 points to end the trading session at 4,291.87
NIKKEI 225 (NIK/O) triple digit gain of 126.97 points at the end the trading session at 8,076.62

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 2,573, declined stock prices 553, unchanged stock prices 62, stock prices hitting new highs 9 and stock prices hitting new lows 27. 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: Owens & Minor Incorporated (NYSE: OMI) stock price shed 2.13 points on the trading session, high on the trading session $42.59, low on the trading session $39.05, with a closing stock price at $39.88; Sketchers USA Incorporated (NYSE: SKX) stock price shed 2.67 points on the trading session, high on the trading session $7.79, low on the trading session $7.11, with a closing stock price at $7.42; Weyerhaeuser Company (NYSE: WY) stock price gained 0.67 points on the trading session, high on the trading session $28.35, low on the trading session $25.30, with a closing stock price at $28.03; Potash Corporation Saskatchewan USA (NYSE: POT) stock price gained 5.28 points on the trading session, high on the trading session $92.52, low on the trading session $87.68, with a closing stock price at $91.20; Mettler Toledo International (NYSE: MTD) stock price shed 6.48 points on the trading session, high on the trading session $63.88, low on the trading session $58.61, with a closing stock price at $62.96; Dick's Sporting Goods Incorporated (NYSE: DKS) stock price gained 1.89 points on the trading session, high on the trading session $13.81, low on the trading session $12.12, with a closing stock price at $13.15; Aon Corporation (NYSE: AOC) stock price gained 4.17 points on the trading session, high on the trading session $41.53, low on the trading session $39.77, with a closing stock price at $40.62.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 2,048, declined stock prices 712, unchanged stock prices 159, stock prices hitting new highs 7 and stock prices hitting new lows 62. 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: First Solar Incorporated (NasdaqGS: FSLR) stock price shed 2.19 points on the trading session, high on the trading session $152.72, low on the trading session $145.26, with a closing stock price at $147.60; Baidu Incorporated (NasdaqGS: BIDU) stock price shed 1.59 points on the trading session, high on the trading session $126.60, low on the trading session $120.00, with a closing stock price at $123.70.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 354, declined stock prices 210, unchanged stock prices 80, stock prices hitting new highs 3 and stock prices hitting new lows 7.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Mar 09: End of trading session price 868.00; Change for the trading session 27.50
E-mini NASDAQ-100 (NQ) Mar 09: End of trading session price 1,276; Change for the trading session 41.50
E-mini DOW $5 (YM) Mar 09: End of trading session price 8,252; Change for the trading session 258
E-mini S&P MidCap 400 (MF) Mar 09: End of trading session price 531.50; Change for the trading session 23.70
E-mini S&P Small Cap 600 (HS) Mar 09: End of trading session price 8,305; Change for the trading session 210

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7732 to U.S. Dollars 1.2933
Japanese Yen 92.010 to U.S. Dollars 0.0109
British Pound 0.6757 to U.S. Dollars 1.4799
Canadian Dollar 1.2252 to U.S. Dollars 0.8162
Swiss Franc 1.1624 to U.S. Dollars 0.8603

COMMODITY MARKETS:

Energy Sector - Nymex:
Light Crude (March 09) shed $1.00 on the trading session for a closing price of $40.17 per barrel ($US per barrel)
Heating Oil (March 09) shed $0.01 on the trading session for a closing price of $1.36 a gallon ($US per gallon)
Natural Gas (March 09) gained $0.13 on the trading session for a closing price of $4.80 per million BTU ($US per mmbtu.)
Unleaded Gas (March 09) shed $0.02 on the trading session for a closing price of $1.25 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (April 09) gained $0.10 on the trading session for a closing price of $914.30 ($US per Troy ounce)
Silver (March 09) gained $0.41 on the trading session for a closing price of $13.16 ($US per Troy ounce)
Platinum (April 09) gained $22.30 on the trading session for a closing price of $1,005.00 ($US per Troy ounce)
Copper (March 09) gained $0.13 on the trading session for a closing price of $1.63 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (April 09) gained 0.15 on the trading session for a closing price of 60.40
Pork Bellies (March 09) gained 0.15 on the trading session for a closing price of 80.15
Live Cattle (April 09) gained 0.20 on the trading session for a closing price of 86.70
Feeder Cattle (March 09) gained 0.7230 on the trading session for a closing price of 94.35

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (March 09) gained 6.00 on the trading session for a closing price of 377.25
Soybeans (March 09) gained 21.00 on the trading session for a closing price of 1,001.00

BOND MARKET:

2 year Bond Closing price 99 24/32, change -2/32, Yield 0.99, Yield change 0.02
5 year Bond closing price of 98 31/32, change -10/32, Yield 1.96, Yield change 0.07
10 year Bond closing price 106 13/32, change -20/32, Yield 2.98, Yield change 0.04
30 year Bond closing price 114 10/32, change -29/32, Yield 3.69, Yield change 0.05

At the close of the week, performance results for our Moderators:

Stocks Trading Room:
Jeannie $6,351
Barry $7,993
Sam $2,606
Scott $1,740

Futures Trading Room:
JT $5,447.50
James $230

Forex Trading Room:
JT $18,300

Daily Swing Trades:
Barry $14,520

Thanks for reading
Millennium-Traders.Com

There needs to be an improvement in consumer credit ratings before the economy can truly recover.