Bad Credit Mortgages

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Daily Market Commentary for July 23, 2008 from

Quarterly losses for WaMu came in at $3.33 Billion or $6.58 per share compared to year ago profit of $830 Million or 92 cents per share. To cover bad mortgage loans, WaMu increased their reserves to more than $8 Billion. ()

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 world market as well as the emerging markets including the stock market closing price:
DOW (Dow Jones Industrial Average) gain of 31.34 points on the day to end the trading session at 11,633.84
NYSE (New York Stock Exchange) gain of 13.92 points to end the trading session at 8,580.57
NASDAQ gain of 21.92 points to end the trading session at 2,325.88
S&P 500 gain of 5.05 points to end the trading session at 1,282.05
FTSE All-World ex-U.S. gain of 1.86 points to end the trading session at 228.79
FTSE RAFI 1000 gain of 35.43 points to end the trading session at 5,073.64
BEL 20 (BEL20) gain of 85.87 points to end the trading session at 3,144.82
CAC 40 (CAC40) gain of 81.48 points to end the trading session at 4,408.74
FTSE100 (UKX100) gain of 85.8 points to end the trading session at 5,449.9
NIKKEI 225 (NIK/O) unchanged at 13,184.96

Market trends on the New York Stock Exchange (NYSE) today: advanced stocks 1,993; declined stocks 1,219; unchanged stocks 79; stocks hitting new highs 42; stocks hitting new lows 40. List of volatile stocks 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: Norfolk Southern Corporation (NYSE: NSC) gained 4.27 points on the trading session, high on the trading session $70.68, low on the trading session $66.90 for a closing stock price at $69.96; Whirlpool Corporation (NYSE: WHR) gained 8.54 points on the trading session, high on the trading session $77.72, low on the trading session $71.83 for a closing stock price at $76.69; WellPoint Incorporated (NYSE: WLP) gained 4.42 points on the trading session, high on the trading session $53.78, low on the trading session $51.20 for a closing stock price at $53.17; Zimmer Holdings Incorporated (NYSE: ZMH) shed 4.87 points on the trading session, high on the trading session $67.67, low on the trading session $64.02 for a closing stock price at $66.01; VMware Incorporated (NYSE: VMW) shed 0.97 points on the trading session, high on the trading session $37.23, low on the trading session $32.31 for a closing stock price at $37.00; Monsanto Company (NYSE: MON) shed 8.01 points on the trading session, high on the trading session $120.75, low on the trading session $110.57 for a closing stock price at $111.77; Ryder System Incorporated (NYSE: R) shed 7.51 points on the trading session, high on the trading session $74.60, low on the trading session $67.36 for a closing stock price at $67.58; Las Vegas Sands Corporation (NYSE: LVS) gained 3.12 points on the trading session, high on the trading session $56.67, low on the trading session $48.40 for a closing stock price at $52.12; W-H Energy Services Incorporated (NYSE: WHQ) shed 2.02 points on the trading session, high on the trading session $96.12, low on the trading session $90.59 for a closing stock price at $93.57; Wachovia Corporation (NYSE: WB) gained 0.86 points on the trading session, high on the trading session $19.55, low on the trading session $15.56 for a closing stock price at $17.65; XTO Energy Incorporated (NYSE: XTO) shed 4.87 points on the trading session, high on the trading session $52.11, low on the trading session $48.20 for a closing stock price at $48.24; CME Group Incorporated (NYSE: CME) gained 24.35 points on the trading session, high on the trading session $392.99, low on the trading session $360.02 for a closing stock price at $390.62; Walter Industries Incorporated (NYSE: WLT) shed 10.09 points on the trading session, high on the trading session $91.49, low on the trading session $80.50 for a closing stock price at $80.85; Devon Energy Corporation (NYSE: DVN) shed 5.29 points on the trading session, high on the trading session $99.16, low on the trading session $92.81 for a closing stock price at $93.31; Ultrashort Financial (NYSE: SKF) shed 5.69 points on the trading session, high on the trading session $124.46, low on the trading session $111.30 for a closing stock price at $116.99; Potash Corporation Saskatchewan (NYSE: POT) shed 15.36 points on the trading session, high on the trading session $215.94, low on the trading session $198.18 for a closing stock price at $200.69.

Market trends on the NASDAQ today: advanced stocks 1,644; declined stocks 1,268; unchanged stocks 136; stocks hitting new highs 58; stocks hitting new lows 54. List of volatile stocks 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: ADC Telecommunications Corporation (NasdaqGS: ADCT) shed 3.27 points on the trading session, high on the trading session $10.42, low on the trading session $9.70 for a closing stock price at $10.09; Costco Wholesale Corporation (NasdaqGS: COST) shed 7.92 points on the trading session, high on the trading session $66.66, low on the trading session $62.31 for a closing stock price at $64.07; Intuitive Surgical Incorporated (NasdaqGS: ISRG) gained 46.71 points on the trading session, high on the trading session $333.25, low on the trading session $313.00 for a closing stock price at $326.94; Wynn Resorts Limited (NasdaqGS: WYNN) gained 1.42 points on the trading session, high on the trading session $106.95, low on the trading session $95.93 for a closing stock price at $99.23; Millicom International Cellular (NasdaqGS: MICC) gained 3.28 points on the trading session, high on the trading session $82.85, low on the trading session $73.85 for a closing stock price at $78.87; Google Incorporated (NasdaqGS: GOOG) gained 10.60 points on the trading session, high on the trading session $497.23, low on the trading session $478.10 for a closing stock price at $487.71; First Solar Incorporated (NasdaqGS: FSLR) shed 9.40 points on the trading session, high on the trading session $267.62, low on the trading session $258.10 for a closing stock price at $257.05.

Market trends on the American Stock Exchange (AMEX) today: advanced stocks 642; declined stocks 571; unchanged stocks 71; stocks hitting new highs 8; stocks hitting new lows 33.

Chicago Board of Trade Futures Market activity for the day, September 2008 Contracts, at time of this posting:
E-mini S&P 500 (ES) end of day price 1,281.75, change 7.50
E-mini NASDAQ-100 (NQ) end of day price 1,849.50, change 25.50
E-mini S&P SmallCap 600 (SMP) end of day price 374.70, change 0.00
$5 DJIA (YM) end of day price 11,609, change 45

World Currencies at time of this posting:
Euro 0.6374 to U.S. Dollars 1.5688
Japanese Yen 107.84 to U.S. Dollars 0.0093
British Pound 0.5004 to U.S. Dollars 1.9985
Canadian Dollar 1.0097 to U.S. Dollars 0.9904
Swiss Franc 1.038 to U.S. Dollars 0.9634

Commodities Markets:
Energy Sector: Light Crude (NYM) shed $3.98 on the day for a closing price of the range of $124.44 a gallon ($US per bbl.); Heating Oil (NYM) shed $0.13 on the day for a closing price of $3.57 a gallon ($US per gal.); Natural Gas (NYM) shed $0.33 on the day for a closing price of $9.81 per million BTU ($US per mmbtu.); Unleaded Gas (NYM) shed $0.11 on the day for a closing price of $3.03 a gallon ($US per gal.).

Metals Markets:
Gold Market Price (CMX) shed $25.70 on the day for a closing price of $922.80 ($US per Troy oz.); Silver (CMX) shed $0.55 on the day for a closing price of $17.46 ($US per Troy oz.); Platinum (NYM) shed $43.20 on the day for a closing price of $1,765.00 ($US per Troy oz.) and Copper (CMX) shed $0.03 on the day for a closing price of $3.66 ($US per lb.).

Livestock and Meat Markets (cents per lb.):
Lean Hogs (CME) shed 0.95 on the day for a closing price of 72.90; Pork Bellies (CME) gained 3.00 on the day for a closing price of 68.33; Live Cattle (CME) gained 0.90 on the day for a closing price of 105.50; Feeder Cattle (CME) shed 1.33 on the day for a closing price of 112.30.

Other Commodities (cents per bu.):
Corn (CBT) shed 1.75 on the day for a closing price of 588.50 and Soybeans (CBT) shed 25.00 on the day for a closing price of 1,384.00.

Bond action for the day:
2 year bond shed 2/32 on the day for a closing price of 100 7/32 with a Yield of 2.74, Yield Change +0.15
year bond shed 5/32 on the day for a closing price of 99 13/32 with a Yield of 3.50, Yield Change +0.03
10 year bond shed 4/32 on the day for a closing price of 98 1/32 with a Yield of 4.12, Yield Change +0.02
30 year bond shed 13/32 on the day for a closing price of 95 1/32 with a Yield of 4.68, Yield Change +0.02

Department Of Energy released petroleum reserve data today:
U.S. Crude Oil Stockpiles fell by 1.558 Million Barrels at 295.33 Million Barrels; U.S. Gasoline Stockpiles rose by 2.847 Million Barrels at 217.085 Million Barrels; U.S. Distillate Stockpiles rose by 2.419 Million Barrels at 128.109 Million Barrels; U.S. Refineries ran at capacity of 87.1% versus capacity of 89.5% a week ago; U.S. Gasoline Stockpiles rose by 2.8 Million Barrels in the week compared to expectations of an increase by 200,000 Million Barrels; U.S. Distillate Stockpiles rose by 2.4 Million Barrels in the week compared to expectations of an increase by 2.2 Million Barrels.

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