Global Recession

[MTnews]

Daily Market Commentary for October 24, 2008 from

A worldwide recession is almost imminent increasing the possibility of panic in the global financial markets which will result in more fallout from massive market selloffs. ()

Existing Home Sales:
U.S. September Existing Home Sales rose by 5.5 percent to 5.18 Million rate; U.S. September Existing Home Sales Consensus came in at 4.97 Million Rate; U.S. Inventory of Unsold U.S. Homes at 9.9 Months Supply; U.S. September Median Existing Home Price fell 9.0 percent on the year to $191,600.

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 session on the world market as well as the emerging markets including the stock market closing bell price:
DOW (Dow Jones Industrial Average) triple digit loss of 312.30 points on the day to end the trading session at 8,378.95
NYSE (New York Stock Exchange) triple digit loss of 244.39 points to end the trading session at 5,427.54
National Association of Securities Dealers Automated Quotations (NASDAQ) loss of 51.88 points to end the trading session at 1,552.03
S&P 500 loss of 31.34 points to end the trading session at 876.77
FTSE All-World excluding U.S. loss of 6.82 points to end the trading session at 139.72
FTSE RAFI 1000 loss of 93.04 points to end the trading session at 3,440.90
BEL 20 (BEL20) loss of 65.06 points to end the trading session at 1,918.08
CAC 40 (CAC40) triple digit loss of 117.08 points to end the trading session at 3,193.79
FTSE100 (UKX100) triple digit loss of 204.47 points to end the trading session at 3,883.36
NIKKEI 225 (NIK/O) closed - triple digit loss of 213.71 points to end the trading session at 8,460.98

New York Stock Exchange (NYSE) stock market indicators for the day:
Advanced stock prices 580, declined stock prices 2,636; unchanged stock prices 51; stock prices hitting new highs 1 and stock prices hitting new lows 903.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: Developers Diversified Realty Incorporated (NYSE: DDR) stock price shed 0.42 points on the trading session, high on the trading session $11.42, low on the trading session $5.50 with a closing stock price at $8.08; Zimmer Holdings Incorporated (NYSE: ZMH) stock price shed 1.65 points on the trading session, high on the trading session $43.79, low on the trading session $37.19 with a closing stock price at $43.04; Burlington Northern Santa Fe Corporation (NYSE: BNI) stock price shed 1.58 points on the trading session, high on the trading session $82.26, low on the trading session $76.00 with a closing stock price at $80.00; Potash Corporation (NYSE: POT) stock price gained 0.03 points on the trading session, high on the trading session $69.89, low on the trading session $60.38 with a closing stock price at $68.52; Ultrashort Financial ProShares Corporation (NYSE: SKF) stock price gained 11.55 points on the trading session, high on the trading session $180.11, low on the trading session $156.54 with a closing stock price at $163.81; Proshares Ultrashort (NYSE: EEV) stock price gain 29.70 points on the trading session, high on the trading session $193.00, low on the trading session $170.01 with a closing stock price at $182.70; Agnico-Eagle Mines Limited (NYSE: AEM) stock price gained 2.26 points on the trading session, high on the trading session $27.54, low on the trading session $20.87 with a closing stock price at $26.00; Rio Tinto plc (NYSE: RTP) stock price gained 3.68 points on the trading session, high on the trading session $152.83, low on the trading session $130.58 with a closing stock price at $147.19; CME Group Incorporated (NYSE: CME) stock price shed 27.67 points on the trading session, high on the trading session $264.96, low on the trading session $240.20 with a closing stock price at $249.99.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators today:
Advanced stock prices 602; declined stock prices 2,289; unchanged stock prices 99; stock prices hitting new highs 3; stock prices hitting new lows 842.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: Bucyrus International Incorporated (NasdaqGS: BUCY) stock price shed 2.34 points on the trading session, high on the trading session $20.51, low on the trading session $17.20 with a closing stock price at $18.72; Deckers Outdoor Corporation (NasdaqGS: DECK) stock price shed 3.75 points on the trading session, high on the trading session $77.00, low on the trading session $65.74 with a closing stock price at $74.69; Apple Incorporated (NasdaqGS: AAPL) stock price shed 2.29 points on the trading session, high on the trading session $97.90, low on the trading session $90.11 with a closing stock price at $95.98; Baidu.com Incorporated (NasdaqGS: BIDU) stock price shed 22.54 points on the trading session, high on the trading session $199.98, low on the trading session $176.33 with a closing stock price at $190.00.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for today:
Advanced stock prices 325; declined stock prices 811; unchanged stock prices 77; stock prices hitting new highs 77 and stock prices hitting new lows 329.

Chicago Board of Trade Futures Market activity for the day, at time of this posting for December 2008 Contracts:
E-mini S&P 500 (ES) end of day price 867.00 change -47.00
E-mini NASDAQ-100 (NQ) end of day price 1,188.75 change -64.75
E-mini S&P SmallCap 600 (SMP) end of day price 247.10 change -13.00
$5 DJIA (YM) end of day price 8,299 change -475

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7948 to U.S. Dollars 1.2582
Japanese Yen 94.51 to U.S. Dollars 0.0106
British Pound 0.6291 to U.S. Dollars 1.5896
Canadian Dollar 1.2741 to U.S. Dollars 0.7849
Swiss Franc 1.1691 to U.S. Dollars 0.8554

Commodity Markets:
Energy Sector: Light Crude (NYMEX: NYM) shed $3.69 on the day for a closing price of $64.15 a barrel ($US per barrel)
Heating Oil (NYMEX: NYM) shed $0.09 on the day for a closing price of $1.97 a gallon ($US per gallon)
Natural Gas (NYMEX: NYM) shed $0.14 on the day for a closing price of $6.75 per million BTU ($US per mmbtu.)
Unleaded Gas (NYMEX: NYM) shed $0.10 on the day for a closing price of $1.48 a gallon ($US per gallon)

Metals Markets:
Gold Market Price (COMEX: CMX) gained $15.60 on the day for a closing price of $730.30 ($US per Troy ounce)
Silver (COMEX: CMX) shed $0.21 on the day for a closing price of $9.30 ($US per Troy ounce)
Platinum (NYMEX: NYM) shed $10.30 on the day for a closing price of $802.30 ($US per Troy ounce)
Copper (COMEX: CMX) shed $0.12 on the day for a closing price of $1.69 ($US per pound)

Livestock and Meat Markets (cents per lb.):
Lean Hogs (Chicago Mercantile Exchange: CME) gained 0.58 on the day for a closing price of 58.40
Pork Bellies (Chicago Mercantile Exchange: CME) shed 2.15 on the day for a closing price of 84.33
Live Cattle (Chicago Mercantile Exchange: CME) shed 2.33 on the day for a closing price of 87.55
Feeder Cattle (Chicago Mercantile Exchange: CME) shed 2.98 on the day for a closing price of 93.10

Other Commodities (cents per bushel):
Corn (Chicago Board of Trade: CBT) shed 17.50 on the day for a closing price of 372.75
Soybeans (Chicago Board of Trade: CBT) shed 21.50 on the day for a closing price of 867.00

Bond Market:
2 year bond gained 3/32 on the day for a closing price of 100 28/32 with a Yield of 1.54, Yield Change -0.03
5 year bond no change on the day for a closing price of 102 12/32 with a Yield of 2.61, Yield Change 0.01
10 year bond shed 17/32 on the day for a closing price of 102 11/32 with a Yield of 3.71, Yield Change 0.07
30 year bond shed 25/32 on the day for a closing price of 107 1/32 with a Yield of 4.08, Yield Change 0.04

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

Stocks Trading Room:
Jeannie $9,802
Barry $12,459
Sam $5717

Futures Trading Room:
JT $9,110
James $3,265

Forex Trading Room:
JT $26,800

Daily Swing Trades:
Barry $8,940

Weekly Swing Trades:
Jeannie -$1,890

Access upcoming scheduled economic data anytime by viewing the Economic Calendar from Millennium-Traders, free access to visitors on our website.

Visitors may subscribe to our free Weekly MarketNews for a review of the previous weeks trading news plus, view upcoming economic data scheduled for the week ahead.

Review current edition as well as, archives of the News & Commentary plus, view complete details of calls made in our Trading Rooms and stock picks from our Swing Trading services. Traders should review our FREE Monthly Trading Lesson posted on our website.

Thanks for reading