Daily Market Commentary for May 19, 2010

Mortgage Delinquency

Today, the Mortgage Bankers Association reported that the mortgage delinquency rate rose to a record 10.06% in the first quarter. (Read more at Millennium-Traders.Com)

Economic data released today:

MBA Mortgage Applications:
U.S. MBA Market Index fell 1.5% at 569.2; Last Week 578.1; U.S. MBA Purchase Index fell 27.1% at 192.1; Last Week 263.6; U.S. MBA Refinance Index rose 14.5% at 2,783.0; Last Week 2,430.8.

CPI (MoM):
U.S. Real Average Weekly Earnings rose 0.4% in April; U.S. April CPI Energy Prices fell 1.4%; Food Prices rose 0.2%; U.S. April CPI Unrounded fell 0.069%; Core rose 0.047%; U.S. April CPI Ex-Food & Energy Unchanged; Compared to Consensus of an increase by 0.1%; U.S. April Consumer Prices fell 0.1%; Compared to Consensus of Unchanged.

Crude Oil Inventories released by Department of Energy [DOE]:
U.S. Crude Oil Stockpiles rose 0.2 Million Barrels at 362.7 Million Barrels; U.S. Crude Oil Stockpiles rose 0.2 Million Barrels in Week; Was Seen increasing by 0.3 Million Barrels; U.S. Gasoline Stockpiles fell 0.3 Million Barrels at 221.8 Million Barrels; U.S. Gasoline Stockpiles fell 0.3 Million Barrels in Week; Was Seen decreasing by 0.5 Million Barrels; U.S. Distillate Stockpiles fell 1.0 Million Barrels at 152.8 Million Barrels; U.S. Distillate Stockpiles fell 1.0 Million Barrels in Week; Was Seen increasing by 1.2 Million Barrels; U.S. Refineries Ran at 87.94% capacity versus 88.42% a Week Ago; U.S. Refineries Ran at 87.94% capacity; Was Seen at 88.30%.

FOMC Meeting Minutes:
Fed board divided on timing, pace of asset sales; Fed sees jobless rate at 9.1%-9.5% in 4Q 2010; Fed cuts 2010 core inflation forecast to 0.9%-1.2%; Fed trims 2010-2012 inflation forecasts; Fed raises 2010 U.S. GDP forecast to 3.2%-3.7%; Most Fed board members favor asset sales; Some Fed officials worried Europe debt woes could slow U.S. Recovery.

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 66.65 points, EOD 10,444.30
NYSE (New York Stock Exchange) shed 32.10, EOD 6,927.11
National Association of Securities Dealers Automated Quotations (NASDAQ) shed 19.57 points, EOD 2,297.69
S&P 500 (SPX) shed 6.03 points, EOD 1,114.77
BEL 20 (BEL20) shed 52.39 points, EOD 2,432.85
CAC 40 (CAC40) shed 105.65 points, EOD 3,511.67
FTSE100 (UKX100) shed 149.26 points, EOD 5,158.08
NIKKEI 225 (NIK/O) shed 55.8, EOD 10,186.84

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 715, declined stock prices 2,426, unchanged stock prices 54, stock prices hitting new highs 19 and stock prices hitting new lows 42. 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: FAS gain 0.13, HOD 26.46, LOD 24.18, EOD 25.67; RL gain 2.49, HOD 89.26, LOD 82.70, EOD 88.27; V gain 2.74, HOD 74.20, LOD 70.71, EOD 72.83; MA shed 2.23, HOD 213.25, LOD 196.05, EOD 200.58; CME gain 2.66, HOD 312.21, LOD 301.60, EOD 310.90; GS gain 2.62, HOD 140.13, LOD 136.10, EOD 139.98; ADI gain 1.16, HOD 29.18, LOD 27.57, EOD 28.76; TGT shed 0.19, HOD 54.70, LOD 53.03, EOD 54.03; DE gain 1.17, HOD 59.47, LOD 56.00, EOD 58.87.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 660, declined stock prices 2,095, unchanged stock prices 95, stock prices hitting new highs 19 and stock prices hitting new lows 85. 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: AAPL shed 4.02, HOD 252.92, LOD 244.85, EOD 248.34; PCLN shed 2.75, HOD 196.00, LOD 184.21, EOD 190.11; GOOG shed 3.94, HOD 499.44, LOD 487.74, EOD 494.43; BIDU shed 1.44, HOD 71.98, LOD 68.36, EOD 70.13.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 126, declined stock prices 388, unchanged stock prices 27, stock prices hitting new highs 5 and stock prices hitting new lows 13.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Mar 10: EOD 1113.50; Change -5.25
E-mini NASDAQ-100 (NQ) Mar 10: EOD 1,871.50; Change -17.50
E-mini DOW $5 (YM) Mar 10: EOD 10,421; Change -69
E-mini S&P MidCap 400 (MF) Mar 10: EOD 770.50; Change -7.60
Nikkei 225 (Yen) Mar 10: EOD 10,135; Change -25

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.8072 to U.S. Dollars 1.2400
Japanese Yen 91.6250 to U.S. Dollars 0.0109
British Pound 0.6935 to U.S. Dollars 1.4400
Canadian Dollar 1.0459 to U.S. Dollars 0.9584
Swiss Franc 1.1516 to U.S. Dollars 0.8682

COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (June 10) gain $0.46, EOD $69.87 per barrel ($US per barrel)
Heating Oil (June 10) shed $0.01, EOD $1.95 a gallon ($US per gallon)
Natural Gas (June 10) gain $0.18, EOD $4.16 per million BTU ($US per mmbtu.)
Unleaded Gas (June 10) shed $0.02, EOD $2.02 gallon ($US per gallon)

Metals Markets - Comex:
Gold (May 10) shed $21.70, EOD $1,192.60 ($US per Troy ounce)
Silver (May 10) shed $0.76, EOD $18.09 ($US per Troy ounce)
Platinum (May 10) shed $84.80, EOD $1,603.70 ($US per Troy ounce)
Copper (May 10) shed $0.07, EOD $2.95 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (June 10) gain $0.72, EOD $82.02
Pork Bellies (May 10) gain $3.00, EOD $105.25
Live Cattle (June 10) shed $0.32, EOD $92.42
Feeder Cattle (May 10) gain $0.60, EOD $110.35

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (May 10) shed $0.50, EOD $359.25
Soybeans (May 10) shed $1.00, EOD $938.50

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