Job Cuts

[MTnews]

Daily Market Commentary for February 2, 2009 from

Macy's announced today they plan to slash 7,000 jobs and the news sent shivers across Wall Street. ()

Economic data released today:

Personal Income and Outlays:
U.S. Personal Income fell 0.2% in December compared to consensus of a drop by 0.4%; U.S. Personal Spending fell 1.0% in December compared to consensus of a drop by 0.8%; U.S. November Personal Income Revised to a drop by 0.4% from a drop by 0.2%; U.S. November Spending Revised to a drop by 0.8% from a drop by 0.6%; U.S. December Personal Saving Rate up to 3.6% from 2.8% in November; U.S. December PCE Core Price Index Unchanged% rate on the month; U.S. December PCE Core Price Index rose 1.7% on the year; U.S. December PCE Price Index fell 0.5% rate on the month; U.S. December PCE Price Index rose 0.6% on the year.

ISM Manufacturing Index:
U.S. ISM January Manufacturing Business Index 35.6 versus December 32.9; U.S. ISM January Manufacturing Business Index Expected 32.0; U.S. ISM January Prices Index 29.0 versus December 18.0; U.S. ISM January Employment Index 29.9 versus December 29.9; U.S. ISM January New Orders Index 33.2 versus December 23.1; U.S. ISM January Production Index 32.1 versus December 26.3; U.S. ISM January Inventories Index 37.5 versus December 39.6.

Construction Spending:
U.S. Construction Spending fell 1.4% in December compared to consensus of a drop by 1.0%; U.S. Construction Spending fell 1.4% in December compared to consensus of a drop by 1.0%; U.S. November Construction Spending Revised to a drop by 1.2% from a drop by 0.6%.

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) loss of 64.11 points to end the trading session at 7,936.75
NYSE (New York Stock Exchange) loss of 29.32 points to end the trading session at 5,166.47
National Association of Securities Dealers Automated Quotations (NASDAQ) gain of 18.01 points to end the trading session at 1,494.43
S&P 500 (SPX) loss of 0.44 points to end the trading session at 825.44
BEL 20 (BEL20) loss of 41.32 points to end the trading session at 1,858.77
CAC 40 (CAC40) loss of 43.87 points to end the trading session at 2,930.05
FTSE100 (UKX100) loss of 71.86 points to end the trading session at 4,077.78
NIKKEI 225 (NIK/O) triple digit loss of 120.07 points at the end the trading session at 7,873.98

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 1,359, declined stock prices 1,726, unchanged stock prices 85, stock prices hitting new highs 8 and stock prices hitting new lows 140. 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: Alcon Incorporated (NYSE: ACL) stock price shed 1.80 points on the trading session, high on the trading session $85.90, low on the trading session $83.20, with a closing stock price at $83.84; Direxion Financial Bear 3X Shares (NYSE: FAZ) stock price shed 0.33 points on the trading session, high on the trading session $55.65, low on the trading session $49.25, with a closing stock price at $50.07; ProShares Ultrashort Real Estate (NYSE: SRS) stock price shed 1.09 points on the trading session, high on the trading session $63.69, low on the trading session $57.38, with a closing stock price at $58.23; Deutsche Bank AG (NYSE: DB) stock price shed 0.48 points on the trading session, high on the trading session $25.37, low on the trading session $24.31, with a closing stock price at $25.16; Rio Tinto (NYSE: RTP) stock price gained 3.32 points on the trading session, high on the trading session $93.00, low on the trading session $88.91, with a closing stock price at $90.07; Humana Incorporated (NYSE: HUM) stock price gained 2.20 points on the trading session, high on the trading session $41.55, low on the trading session $36.06, with a closing stock price at $40.13; Rockwell Automation (NYSE: ROK) stock price shed 2.88 points on the trading session, high on the trading session $23.67, low on the trading session $20.29, with a closing stock price at $23.16; ProShares Ultrashort Financials (NYSE: SKF) stock price shed 0.31 points on the trading session, high on the trading session $153.76, low on the trading session $141.28, with a closing stock price at $142.95; CME Group Incorporated (NYSE: CME) stock price shed 5.65 points on the trading session, high on the trading session $171.03, low on the trading session $164.39, with a closing stock price at $168.26; ProShares Ultrashort S&P 500 (NYSE: SDS) stock price gained 0.38 points on the trading session, high on the trading session $83.99, low on the trading session $80.27, with a closing stock price at $81.43; ITT Educational Services Incorporated (NYSE: ESI) stock price gained 6.92 points on the trading session, high on the trading session $131.49, low on the trading session $122.00, with a closing stock price at $129.43; AFLAC Incorporated (NYSE: AFL) stock price shed 0.18 points on the trading session, high on the trading session $23.68, low on the trading session $21.91, with a closing stock price at $23.03.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,488, declined stock prices 1,295, unchanged stock prices 127, stock prices hitting new highs 10 and stock prices hitting new lows 153. 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: Google Incorporated (NasdaqGS: GOOG) stock price gained 2.04 points on the trading session, high on the trading session $345.00, low on the trading session $332.001, with a closing stock price at $340.57; Baidu Incorporated (NasdaqGS: BIDU) stock price shed 3.50 points on the trading session, high on the trading session $129.40, low on the trading session $123.23, with a closing stock price at $125.27.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 264, declined stock prices 309, unchanged stock prices 53, stock prices hitting new highs 6 and stock prices hitting new lows 10.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Mar 09: End of trading session price 821.25; Change for the trading session 0.00
E-mini NASDAQ-100 (NQ) Mar 09: End of trading session price 1,190; Change for the trading session 1.25
E-mini DOW $5 (YM) Mar 09: End of trading session price 7,885; Change for the trading session -2
E-mini S&P MidCap 400 (MF) Mar 09: End of trading session price 496.80; Change for the trading session 0.20
E-mini S&P Small Cap 600 (HS) Mar 09: End of trading session price 7,825; Change for the trading session 10

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7785 to U.S. Dollars 1.2846
Japanese Yen 89.450 to U.S. Dollars 0.0112
British Pound 0.7009 to U.S. Dollars 1.4268
Canadian Dollar 1.2426 to U.S. Dollars 0.8048
Swiss Franc 1.1609 to U.S. Dollars 0.8614

COMMODITY MARKETS:

Energy Sector - Nymex:
Light Crude (March 09) shed $1.60 on the trading session for a closing price of $40.08 per barrel ($US per barrel)
Heating Oil (March 09) shed $0.09 on the trading session for a closing price of $1.34 a gallon ($US per gallon)
Natural Gas (March 09) gained $0.14 on the trading session for a closing price of $4.59 per million BTU ($US per mmbtu.)
Unleaded Gas (March 09) shed $0.12 on the trading session for a closing price of $1.15 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (April 09) shed $21.20 on the trading session for a closing price of $907.20 ($US per Troy ounce)
Silver (March 09) shed $0.15 on the trading session for a closing price of $12.42 ($US per Troy ounce)
Platinum (April 09) shed $12.20 on the trading session for a closing price of $978.90 ($US per Troy ounce)
Copper (March 09) shed $0.04 on the trading session for a closing price of $1.43 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (April 09) shed 1.30 on the trading session for a closing price of 61.68
Pork Bellies (March 09) shed 0.23 on the trading session for a closing price of 82.10
Live Cattle (April 09) gained 1.73 on the trading session for a closing price of 86.83
Feeder Cattle (March 09) gained 3.00 on the trading session for a closing price of 94.00

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (March 09) shed 8.50 on the trading session for a closing price of 370.50
Soybeans (March 09) shed 20.50 on the trading session for a closing price of 959.50

BOND MARKET:

2 year Bond Closing price 99 31/32, change 4/32, Yield 0.88, Yield change -0.07
5 year Bond closing price of 99 31/32, change 19/32, Yield 1.75, Yield change -0.13
10 year Bond closing price 108 26/32, change 1 6/32, Yield 2.71, Yield change -0.14
30 year Bond closing price 118 24/32, change 2 21/32, Yield 3.47, Yield change -0.13

Thanks for reading