Daily Market Commentary for May 14, 2010

Global Problems

Stocks fell again today as investors worry that the European debt crisis could turn into global problems. (Read more at Millennium-Traders.Com)

Economic data released today:

Retail Sales (MoM):
March Retail & Food Sales Revised to rise 2.1% from an increase by 1.9%; April Building Material & Garden Equipment Sales rose 6.9; U.S. April Retail & Food Sales Excluding-Autos rose 0.4%; U.S. April Retail & Food Sales rose 0.4%; Compared to Consensus of a decrease by 0.1%.

Capacity Utilization Rate:
U.S. April Capacity Utilization rose 0.6-Pt at 73.7%; Compared to Consensus 73.8%.

Industrial Production (MoM):
U.S. March Capacity Use Revised to 73.1% from 73.2%; U.S. March Industrial Production Revised to rise 0.2% from an increase by 0.1%; U.S. April Industrial Production rose 0.8%; Compared to Consensus of an increase by 0.8%.

Michigan Consumer Sentiment Index:
University of Michigan Mid-May Sentiment 73.3; April 72.2; University of Michigan Mid-May Current Index 81.1; April 81.0; University of Michigan Mid-May Expectations 68.3; April 66.5.

Michigan Inflation Expectations:
University of Michigan 12-Month Inflation Forecast rose 3.1%; April rose 2.9%; University of Michigan 5-Yr Inflation Forecast rose 2.9%; April rose 2.7%.

Business Inventories (MoM):
U.S. March Business Inventories rose 0.4%; Expected to increase by 0.4%.

Philadelphia Fed:
Results From 2Q Survey of Professional Forecasters; 2010 U.S. Average Core PCE Seen 1.2%, 2011 at 1.6%; U.S. 2Q Core PCE Prices Seen 1.1%; 3Q 1.2%; U.S. 2Q Unemployment Rate Seen 9.8%, 3Q 9.6%; U.S. Average 2010 GDP Seen 3.3%, 2011 3.1%; U.S. 2Q GDP Expected at 3.3%, 3Q Also 3.3%; Forecasters Upgrade Growth, Employment Outlook.

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) shed 159.09 points, EOD 10,623.86
NYSE (New York Stock Exchange) shed 158.33, EOD 7,076.04
National Association of Securities Dealers Automated Quotations (NASDAQ) shed 48.55 points, EOD 2,345.81
S&P 500 (SPX) shed 21.36 points, EOD 1,136.08
BEL 20 (BEL20) shed 87.68 points, EOD 2,447.17
CAC 40 (CAC40) shed 171.18 points, EOD 3,560.36
FTSE100 (UKX100) shed 170.88 points, EOD 5,262.85
NIKKEI 225 (NIK/O) shed 158.04, EOD 10,462.51

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 391, declined stock prices 2,774, unchanged stock prices 48, stock prices hitting new highs 20 and stock prices hitting new lows 23. 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: MA shed 20.30, HOD 220.02, LOD 209.07, EOD 212.01; DDS gain 1.99, HOD 29.17, LOD 27.02, EOD 27.71; V shed 8.80, HOD 79.89, LOD 75.92, EOD 76.93; CA shed 1.34, HOD 20.89, LOD 19.80, EOD 20.54; FAS shed 2.73, HOD 29.44, LOD 27.13, EOD 27.95; CME shed 7.97, HOD 322.95, LOD 312.53, EOD 315.88; NS shed 2.92, HOD 56.29, LOD 55.66, EOD 56.00.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 432, declined stock prices 2,320, unchanged stock prices 87, stock prices hitting new highs 29 and stock prices hitting new lows 27. 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: GOOG shed 3.35, HOD 510.99, LOD 496.25, EOD 507.53; AAPL shed 4.54, HOD 256.48, LOD 249.50, EOD 253.82; TIVO shed 7.23, HOD 17.53, LOD 10.00, EOD 10.16; BIDU shed 1.66, HOD 74.81, LOD 72.28, EOD 73.98; AMZN shed 2.94, HOD 131.00, LOD 126.76, EOD 128.53; PCLN shed 4.61, HOD 210.19, LOD 204.00, EOD 208.28.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 138, declined stock prices 368, unchanged stock prices 27, stock prices hitting new highs 8 and stock prices hitting new lows 4.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Mar 10: EOD 1133.00; Change -23.75
E-mini NASDAQ-100 (NQ) Mar 10: EOD 1,905.00; Change -42.25
E-mini DOW $5 (YM) Mar 10: EOD 10,581; Change -192
E-mini S&P MidCap 400 (MF) Mar 10: EOD 788.20; Change -21.30
Nikkei 225 (Yen) Mar 10: EOD 10,300; Change -180

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.8075 to U.S. Dollars 1.2400
Japanese Yen 92.2550 to U.S. Dollars 0.0108
British Pound 0.6879 to U.S. Dollars 1.4500
Canadian Dollar 1.0326 to U.S. Dollars 0.6985
Swiss Franc 1.1318 to U.S. Dollars 0.8833

COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (June 10) shed $2.79, EOD $71.61 per barrel ($US per barrel)
Heating Oil (June 10) shed $0.07, EOD $2.06 a gallon ($US per gallon)
Natural Gas (June 10) shed $0.02, EOD $4.31 per million BTU ($US per mmbtu.)
Unleaded Gas (June 10) shed $0.06, EOD $2.13 gallon ($US per gallon)

Metals Markets - Comex:
Gold (May 10) shed $1.40, EOD $1,227.40 ($US per Troy ounce)
Silver (May 10) shed $0.27, EOD $19.20 ($US per Troy ounce)
Platinum (May 10) shed $24.00, EOD $1,713.40 ($US per Troy ounce)
Copper (May 10) shed $0.09, EOD $3.12 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (May 10) shed $0.22, EOD $88.20
Pork Bellies (May 10) shed $1.75, EOD $103.25
Live Cattle (June 10) shed $2.32, EOD $93.25
Feeder Cattle (May 10) shed $1.50, EOD $110.22

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (May 10) shed $9.75, EOD $356.75
Soybeans (May 10) shed $12.50, EOD $948.00

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