Thread: Toxic Assets

Daily Market Commentary for March 23, 2009

The surge in the markets today was attributed to Treasury Secretary Timothy Geithner indicating that they want private investors to help buy up banks toxic assets. (read more at Millennium-Traders.Com)

Economic data released today:

Existing Home Sales:
U.S. February Existing Home Sales rose 5.1% to 4.72M rate; U.S. February Existing Home Sales consensus was at 4.48M rate; U.S. Inventory of Unsold U.S. Homes at 9.7 months supply; U.S. February Median Existing Home Price fell 15.5% on the year to $165,400.

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 497.48 points to end the trading session at 7,775.86
NYSE (New York Stock Exchange) triple digit gain of 353.73 points to end the trading session at 5,185.86
National Association of Securities Dealers Automated Quotations (NASDAQ) gain of 98.50 points to end the trading session at 1,555.77
S&P 500 (SPX) gain of 54.38 points to end the trading session at 822.92
BEL 20 (BEL20) gain of 45.36 points to end the trading session at 1,754.02
CAC 40 (CAC40) gain of 178.43 points to end the trading session at 2,869.57
FTSE100 (UKX100) triple digit gain of 109.96 points to end the trading session at 3,952.81
NIKKEI 225 (NIK/O) triple digit gain of 269.57 points to end the trading session at 8,215.53

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 2,495, declined stock prices 227, unchanged stock prices 483, stock prices hitting new highs 8 and stock prices hitting new lows 14. 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: ProShares Ultrashort S&P 500 (NYSE: SDS) stock price shed 12.45 points on the trading session, high on the trading session $83.13, low on the trading session $74.50, with a closing stock price at $74.53; State Street (NYSE: STT) stock price gained 5.28 points on the trading session, high on the trading session $30.21, low on the trading session $26.07, with a closing stock price at $29.97; Carpenter Technology (NYSE: CRS) stock price shed 0.47 points on the trading session, high on the trading session $15.50, low on the trading session $13.75, with a closing stock price at $14.17; Teleflex (NYSE: TFX) stock price shed 3.55 points on the trading session, high on the trading session $43.62, low on the trading session $37.56, with a closing stock price at $38.60; Terra Industries (NYSE: TRA) stock price gained 0.81 points on the trading session, high on the trading session $28.25, low on the trading session $26.65, with a closing stock price at $27.41; Walgreen (NYSE: WAG) stock price gained 2.29 points on the trading session, high on the trading session $27.15, low on the trading session $25.53, with a closing stock price at $26.58; ITT Educational Services (NYSE: ESI) stock price shed 4.29 points on the trading session, high on the trading session $116.99, low on the trading session $109.17, with a closing stock price at $116.84; Vornado Realty Trust (NYSE: VNO) stock price gained 4.59 points on the trading session, high on the trading session $37.14, low on the trading session $33.14, with a closing stock price at $36.82; PNC Financial Services (NYSE: PNC) stock price gained 4.43 points on the trading session, high on the trading session $32.84, low on the trading session $28.10, with a closing stock price at $31.35; Apache (NYSE: APA) stock price gained 5.79 points on the trading session, high on the trading session $70.65, low on the trading session $66.42, with a closing stock price at $70.65; Rio Tinto plc (NYSE: RTP) stock price gained 18.69 points on the trading session, high on the trading session $133.37, low on the trading session $126.61, with a closing stock price at $132.79; ProShares Ultrashort Financials (NYSE: SKF) stock price shed 38.46 points on the trading session, high on the trading session $116.41, low on the trading session $90.05, with a closing stock price at $90.63; Direxion Financial Bear 3X (NYSE: FAZ) stock price shed 15.80 points on the trading session, high on the trading session $29.54, low on the trading session $19.05, with a closing stock price at $19.20; Goldman Sachs Group (NYSE: GS) stock price gained 14.61 points on the trading session, high on the trading session $111.93, low on the trading session $101.30, with a closing stock price at $111.93; CME Group (NYSE: CME) stock price gained 34.28 points on the trading session, high on the trading session $264.43, low on the trading session $235.00, with a closing stock price at $264.43.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 2,345, declined stock prices 459, unchanged stock prices 123, stock prices hitting new highs 10 and stock prices hitting new lows 13. 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: Baidu.com (NasdaqGS: BIDU) stock price gained 7.40 points on the trading session, high on the trading session $187.94, low on the trading session $178.00, with a closing stock price at $182.60; First Solar (NasdaqGS: FSLR) stock price gained 8.63 points on the trading session, high on the trading session $131.65, low on the trading session $122.39, with a closing stock price at $129.00.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 361, declined stock prices 155, unchanged stock prices 105, stock prices hitting new highs 2 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) June 09: End of trading session price 818; Change for the trading session 54
E-mini NASDAQ-100 (NQ) June 09: End of trading session price 1,252; Change for the trading session 64
E-mini DOW $5 (YM) June 09: End of trading session price 7,713; Change for the trading session 498
E-mini S&P MidCap 400 (MF) June 09: End of trading session price 475; Change for the trading session 14

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7336 to U.S. Dollars 1.3632
Japanese Yen 97.04 to U.S. Dollars 0.0103
British Pound 0.6864 to U.S. Dollars 1.4569
Canadian Dollar 1.2216 to U.S. Dollars 0.8186
Swiss Franc 1.1253 to U.S. Dollars 0.8887

COMMODITY MARKETS:

Energy Sector - Nymex:
Light Crude (April 09) gained $1.73 on the trading session for a closing price of $53.80 per barrel ($US per barrel)
Heating Oil (May 09) gained $0.09 on the trading session for a closing price of $1.49 a gallon ($US per gallon)
Natural Gas (May 09) gained $0.07 on the trading session for a closing price of $4.38 per million BTU ($US per mmbtu.)
Unleaded Gas (April 09) gained $0.03 on the trading session for a closing price of $1.49 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (April 09) shed $3.70 on the trading session for a closing price of $952.50 ($US per Troy ounce)
Silver (May 09) gained $0.04 on the trading session for a closing price of $13.88 ($US per Troy ounce)
Platinum (April 09) gained $29.10 on the trading session for a closing price of $1,134.40 ($US per Troy ounce)
Copper (May 09) gained $0.05 on the trading session for a closing price of $1.84 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (June 09) shed 1.15 on the trading session for a closing price of 72.63
Pork Bellies (May 09) shed 3.00 on the trading session for a closing price of 88.50
Live Cattle (June 09) gained 0.55 on the trading session for a closing price of 83.40
Feeder Cattle (May 09) gained 0.68 on the trading session for a closing price of 96.05

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (May 09) shed 1.00 on the trading session for a closing price of 395.50
Soybeans (May 09) gained 3.50 on the trading session for a closing price of 955

BOND MARKET:
2 year Bond Closing price 99 30/32, change -2/32, Yield 0.90, Yield change 0.03
5 year Bond closing price of 100 27/32, change -18/32, Yield 1.69, Yield change 0.05
10 year Bond closing price 100 20/32, change -11/32, Yield 2.67, Yield change 0.04
30 year Bond closing price 96 17/32, change -18/32, Yield 3.69, Yield change 0.03

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Millennium-Traders.Com

Hopefully this will help banks get rid of their bad investments.