Daily Market Commentary for April 15, 2009

President Barack Obama pledged to rewrite the "monstrous" U.S. tax code, which he said is "far too complicated" for most people to grasp. (read more at Millennium-Traders.Com)

Economic data released today:

Consumer Price Index:
U.S. March Consumer Prices fell by 0.1% compared to consensus of a drop by 0.1%; U.S. March CPI Excluding-Food & Energy increased by 0.2% compared to consensus of an increase by 0.1%; U.S. March CPI Unrounded fell by 0.138%; U.S. March CPI Unrounded Core increased by 0.171%; U.S. March CPI Energy Prices fell by 3.0%; U.S. March CPI Food Prices fell by 0.1%; U.S. CPI fell by 0.4% on the year which is the first decline since August 1955; U.S. Real Average Weekly Earnings unchanged in March.

Empire State Manufacturing Survey:
New York Fed's April Manufacturing Index fell 14.65 versus drop by 38.23 in March; New York Fed April New Orders fell 3.88 versus drop by 44.76 in March; New York Fed April Employment fell 28.09 versus drop by 38.20 in March; New York Fed April Prices received fell 17.98 versus drop by 23.60 in March.

Treasury International Capital:
Net Foreign LT Securities Purchases came in at $5.0B in February; Net LT Securities Purchases $22.0 Billion in February; Net Foreign Capital Outflow $97.0 Billion in February; Foreigners Net Buyers $21.6 Billion U.S. Treasury Notes, Bonds in February; Foreigners Net Buyers $1.1 Billion of U.S. Agency Debt in February; Foreigners Net Buyers $3.3 Billion of U.S. Corp Bonds in February; Foreigners Net Sellers $5.1 Billion of U.S. Equities in February.

Industrial Production:
U.S. March Industrial Production fell by 1.5% compared to consensus of a drop by 0.9%; U.S. March Capacity Utilization fell by 1.0 point at 69.3% compared to consensus 69.7%; U.S. February Capacity Use revised to 70.3% from 70.2%; U.S. February Industrial Production unrevised at a drop by 1.5%.

EIA Petroleum Status Report by the Department of Energy:
U.S. Crude Oil Stockpiles increased by 5.6 Million Barrels at 366.7 Million Barrels; U.S. Gasoline Stockpiles fell by 0.9 Million Barrels at 216.5 Million Barrels; U.S. Distillate Stockpiles fell by 1.2 Million Barrels at 139.6 Million Barrels; U.S. Refineries Ran at 80.4% capacity versus 81.8% a week ago; U.S. Crude Oil Stockpiles increased by 5.6Million Barrels in the week compared to expectations of an increase by 2.1 Million Barrels; U.S. Gasoline Stockpiles fell by 900,000 Barrels in the week compared to expectations of drop by 500,000 Barrels; U.S. Distillate Stockpiles fell by 1.2 Million Barrels in the week compared to expectations of drop by 700,000; U.S. Refineries ran at 80.4% capacity compared to expectations of an increase by 0.3 points at 82.1%.

Housing Market Index:
U.S. NAHB (National Association of Home Builders) April Housing Index came in at 14 versus 9 in March hitting its highest reading in six months. The reading gives home builders a sense that the bottom has been struck, in the housing crisis. "This is a very encouraging sign that we are at or near the bottom of the current housing depression," NAHB chief economist David Crowe said. "With the prime home buying season now under way, builders report that more buyers are responding to the pull of much-improved affordability measures, including low home prices, extremely favorable mortgage rates and the introduction of the $8,000 first-time home buyer tax credit," Crowe said. During April, a component within the housing market index that measures current sales conditions rose to 13 from 8 in March with an index gauging traffic of prospective buyers increased to 14 from 9. The index gauging sales expectations over the next six months increased to 25 from 15.

Beige Book:
Pace of economic decline slowing in some areas; economy contracted further through April; five districts see economic decline moderating; manufacturing weakened in most districts; retail spending remained sluggish; real-estate markets still weak; home prices still falling in most areas; business travel spending declined; credit conditions still tight; bankers report rising delinquencies; downward pressure on prices across all districts; job cuts, hiring freezes continue.

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 109.44 points, EOD 8,029.62
NYSE (New York Stock Exchange) gain 83.47 points, EOD 5,384.97
National Association of Securities Dealers Automated Quotations (NASDAQ) gain 1.08 points, EOD 1,626.80
S&P 500 (SPX) gain 10.56 points, EOD 852.06
BEL 20 (BEL20) gain 26.01 points, EOD 1,848.33
CAC 40 (CAC40) loss 14.48 points, EOD 2,985.74
FTSE100 (UKX100) loss 20.59 points, EOD 3,968.40
NIKKEI 225 (NIK/O) loss 99.72 points, EOD 8,742.96

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 1,951, declined stock prices 712, unchanged stock prices 500, stock prices hitting new highs 3 and stock prices hitting new lows 4. 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:
SKF - shed 5.87 points, HOD $71, LOD $60.55, EOD $61.39;
CME - gain 4.69 points, HOD $255, LOD $232.50, EOD $252.19;
RTP - shed 2.46 points, HOD $145, LOD $140.23, EOD $143.36;
GS - gain 6.08 points, HOD $122.10, LOD $113.57, EOD $121.19;
ABT - shed 1.986 points, HOD $44.21, LOD $41.88, EOD $42.73;
BTU - shed 3.29 points, HOD $27.39, LOD $25.11, EOD $26.05;
AMR -gain 0.79 points, HOD $5.15, LOD $3.90, EOD $5.01;
RJF - shed 2.58 points, HOD $16.50, LOD $14.78, EOD $16.48;
BKC - shed 3.91 points, HOD $19.78, LOD $18.26, EOD $18.77;
PJC - gain 5.07 points, HOD $32.22, LOD $28.02, EOD $32.15;
CSX - shed 2.20 points, HOD $31.68, LOD $29.56, EOD $30.59.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,735, declined stock prices 1,023, unchanged stock prices 133, stock prices hitting new highs 7 and stock prices hitting new lows 14. 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:
FNFG - shed 0.16 points, HOD $12.68, LOD $12.10, EOD $12.58;
FSLR - gain 1.46 points, HOD $151.60, LOD $147.17, EOD $149.56;
LUFK - shed 7.43 points, HOD $34.74, LOD $29.75, EOD $30.40;
HCSG - gain 1.47 points, HOD $18.99, LOD $16, EOD $17.38;
LLTC - shed 0.71 points, HOD $22.80, LOD $22.14, EOD $22.54;
BIDU - shed 2.89 points, HOD $197.60, LOD $189.11, EOD $195.06.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 297, declined stock prices 200, unchanged stock prices 109, stock prices hitting new highs 2 and stock prices hitting new lows 5.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) June 09: EOD 848.75; Change 0.25
E-mini NASDAQ-100 (NQ) June 09: EOD 1,317; Change 0.00
E-mini DOW $5 (YM) June 09: EOD 7,985; Change 5
E-mini S&P MidCap 400 (MF) June 09: EOD 527.40; Change 0.00
Nikkei 225 (Yen) June 09; EOD 8,850; Change 0

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7562 to U.S. Dollars 1.3224
Japanese Yen 99.35 to U.S. Dollars 0.0101
British Pound 0.6668 to U.S. Dollars 1.4996
Canadian Dollar 1.2040 to U.S. Dollars 0.8306
Swiss Franc 1.1430 to U.S. Dollars 0.8749

COMMODITY MARKETS:

Energy Sector - Nymex:
Light Crude (May 09) loss $0.16, EOD $49.25 per barrel ($US per barrel)
Heating Oil (June 09) loss $0.00, EOD $1.42 a gallon ($US per gallon)
Natural Gas (May 09) no change $0.06, EOD $3.75 per million BTU ($US per mmbtu.)
Unleaded Gas (May 09) shed $0.01, EOD $1.46 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (June 09) gain $1.50, EOD $893.50 ($US per Troy ounce)
Silver (May 09) gain $0.04, EOD $12.80 ($US per Troy ounce)
Platinum (July 09) gain $6.70, EOD $1,225 ($US per Troy ounce)
Copper (July 09) gain $0.08, EOD $2.21 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (June 09) gain 0.45, EOD 73.05
Pork Bellies (May 09) shed 1.00, EOD 86.80
Live Cattle (June 09) gain 1.05, EOD 84.78
Feeder Cattle (August 09) gain 1.50, EOD 101.85

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (July 09) shed 9.50, EOD 394
Soybeans (July 09) gain 14.50, EOD 1,031.50

BOND MARKET:
2 year EOD 100 1/32, change 0, Yield 0.85, Yield change 0.00
5 year EOD 100 7/32, change 3/32, Yield 1.70, Yield change -0.02
10 year EOD 99 27/32, change 6/32, Yield 2.76, Yield change -0.02
30 year EOD 97 6/32, change 1/32, Yield 3.65, Yield change -0.06

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