Stock Market Report

[MTnews]

Daily Market Commentary for June 9, 2008 from

Positive housing data released early during the trading session gave the go ahead for the markets to test the positive territory today, after the strong sell off on Friday. The report shows there is an increase in the number of individuals buying homes, which is good news for the economy with the NAR's highest reading in six months. (read more)

At the closing bell on the Stock Exchange, here is how the major world indices and major U.S. indices ended the session on the U.S. Markets:
DOW (Dow Jones Industrial Average) gain of 74.01 points on the day to end the session at 12,283.82
NYSE (New York Stock Exchange) loss of 3.42 points to end the session at 9,149.91
NASDAQ loss of 15.10 points for a close at 2,459.46
S&P 500 gain of 0.97 points for a close at 1,361.65
FTSE All-World ex-U.S. loss of 1.92 points to close at 246.37
FTSE RAFI 1000 loss of 21.52 points for a close at 5,381.9
BEL 20 loss of 32.13 points to close at 3,640.71
CAC 40 gain of 4.06 points to close at 4,799.38
FTSE100 loss of 29.2 points to close at 5,877.6
NIKKEI 225 triple digit loss of 308 points to close at 14,181.4

News on the New York Stock Exchange (NYSE) today: advanced stocks 1,062; declined stocks 2,086; unchanged stocks 86; stocks hitting new highs 50; stocks hitting new lows 126. Daily Trading Range and end of day trading results for volatile stocks on the NYSE traded by active Day Traders today: Potash Corporation Saskatchewan (NYSE: POT) gained 5.27 points on the trading day, high on the trading day $227.20, low on the trading day $218.56 for a closing price at $222.12; Mosaic Company (NYSE: MOS) gained 7.65 points on the trading day, high on the trading day $143.22, low on the trading day $137.08 for a closing price at $141.01; Monsanto Company (NYSE: MON) gained 2.69 points on the trading day, high on the trading day $140.84, low on the trading day $136.00 for a closing price at $138.45; Lehman Brothers Holdings Incorporated (NYSE: LEH) shed 2.81 points on the trading day, high on the trading day $30.40, low on the trading day $28.00 for a closing price at $29.48; MasterCard Incorporated (NYSE: MA) shed 4.33 points on the trading day, high on the trading day $298.86, low on the trading day $276.41 for a closing price at $291.40; Cleveland-Cliffs Incorporated (NYSE: CLF) gained 2.25 points on the trading day, high on the trading day $107.95, low on the trading day $103.08 for a closing price at $106.60.

News on the NASDAQ today: advanced stocks 871 declined stocks 2,028; unchanged stocks 111; stocks hitting new highs 27; stocks hitting new lows 171. Trading range and end of day trading results for volatile NASDAQ stocks traded by active Day Traders today: Amylin Pharmaceuticals Incorporated (NasdaqGS: AMLN) shed 2.84 points on the trading day, high on the trading day $27.96, low on the trading day $26.28 for a closing price at $27.09; Iconix Brand Group Incorporated (NasdaqGS: ICON) gained 0.14 points on the trading day, high on the trading day $13.61, low on the trading day $12.25 for a closing price at $12.96; First Solar, Incorporated (NasdaqGS: FSLR) shed 7.19 points on the trading day, high on the trading day $253.80, low on the trading day $237.63 for a closing price at $244.50; Garmin Limited (NasdaqGS: GRMN) shed 1.69 points on the trading day, high on the trading day $51.94, low on the trading day $48.57 for a closing price at $49.65; Google Incorporated (NasdaqGS: GOOG) shed 9.13 points on the trading day, high on the trading day $570.00, low on the trading day $545.40 for a closing price at $557.87.

News on the American Stock Exchange (AMEX) today: advanced stocks 360; declined stocks 800; unchanged stocks 72; stocks hitting new highs 21; stocks hitting new lows 34.

Conference Board Employment Trends Index down 6% since July 2007; Conference Board Employment Trends Index at 114.3 in April; Conference Board Employment Trends Index down 0.5% in May to 113.7.

According to National Association for Realtors: U.S. April Pending Home Sales fell 13.1% from April 2007; U.S. Pending Home Sales Index rose 6.3% in April.

President of Federal Reserve Bank of New York, Timothy F. Geithner: No clear sign of speculation pushing oil prices; sees no major risk of sustained inflation; global economies may see tighter monetary policy; confident of consensus on derivatives clearing; need a more mature derivatives market; no central bank can be indifferent to dollar value; regulatory system needs fast action to adapt; some fed programs best reserved for acute crisis; 17 firms meet Monday on CDS infrastructure; preemptive policy action on risk unrealistic; financial system needs better shock absorbers; significant problems in global financial system; top priority is to get economy through crisis; sees `modest, tentative' improvement in markets.

President of Federal Reserve Bank of New York, Richard W. Fisher: Fed borrowers should expect heightened oversight; controlled inflation a must for sustainable growth; most concerned about expectations of inflation; must deal with new consumer demand for awhile.

Commodities Markets
Energy Sector: Light Crude (NYM) shed $4.09 on the day to close at $134.35 a barrel ($US per bbl.); Heating Oil (NYM) shed $0.41 on the day to close at $3.88 a gallon ($US per gal.); Natural Gas (NYM) shed $0.09 on the day to close at $12.60 per million BTU ($US per mmbtu.); Unleaded Gas (NYM) shed $0.15 on the day to close at $3.39 a gallon ($US per gal.).

Metals Markets: Gold (CMX) shed $0.90 to close at $898.10 ($US per Troy oz.); Silver (CMX) shed $0.22 to close at $17.21 ($US per Troy oz.); Platinum (NYM) shed $21.70 on the day to close at $2,059.60 ($US per Troy oz.) and Copper (CMX) shed $0.01 on the day to close at $3.61 ($US per lb.).

Livestock and Meat Markets (cents per lb.): Lean Hogs (CME) shed 1.08 to close at 72.93; Pork Bellies (CME) shed 1.00 to close at 72.20; Live Cattle (CME) shed 1.23 to close at 98.98; Feeder Cattle (CME) shed 1.58 to close at 110.68.

Other Commodities (cents per bu.): Corn (CBT) gained 7.50 to close the session at 685.25 and Soybeans (CBT) shed 5.50 to close session at 1,452.00.

Bond action for the day: 2 year bond shed 22/32 on the day to close at 99 25/32 with a Yield of 2.72, Yield Change +0.34; 5 year bond shed 1 to close at 100 14/32 with a Yield of 3.40, Yield Change +0.22; 10 year bond shed 25/32 to close at 99 6/32 with a Yield of 4.00, Yield Change +0.09; the 30 year bond shed 5/32 to close at 95 25/32 on the day with a Yield of 4.63, Yield Change +0.01.

The e-mini Dow $5 ended the commodity session today at 12,230 with a loss of 388 points on the trading session. Futures Traders should review workshops available at the CBOT (Chicago Board of Trade). Educational in-person seminars schedules available on the CBOT (Chicago Board of Trade) website.

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