Economic Crisis

[MTnews]

Daily Market Commentary for September 24, 2008 from

Economic stability of the nation is on the rocks and the clock is ticking for the resolution. ()

Economic data released today:
Existing Home Sales: U.S. August Existing Home Sales were lower by 2.2% to 4.91 Million rate; U.S. August Existing Home Sales Consensus 4.95 Million rate; U.S. Inventory Of Unsold August Homes at 10.4 Months Supply; U.S. August Median Existing Home Price fell 9.5% on the year to $203,100.

Hot Stock picks on the move today for day trading:
Massey Energy Company (NYSE: MEE) had a trading range on the session of five points. Massey provided a fairly appealing long position shortly after the opening bell. Into mid-day, Massey reversed and moved lower, playing into the hands of short-sellers hungry for a short position to trade. At the closing bell, Massey was in the red zone by just over a quarter of a point.

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) loss of 29.00 points on the day to end the trading session at 10,825.17
NYSE (New York Stock Exchange) loss of 16.45 points to end the trading session at 7,768.82
NASDAQ gain of 2.35 points to end the trading session at 2,155.68
S&P 500 loss of 2.35 points to end the trading session at 1,185.87
FTSE All-World excluding U.S. loss of 0.83 points to end the trading session at 202.83
FTSE RAFI 1000 loss of 25.86 points to end the trading session at 4,714.07
BEL 20 (BEL20) loss of 26.76 points to end the trading session at 2,866.17
CAC 40 (CAC40) loss of 25.28 points to end the trading session at 4,114.54
FTSE100 (UKX100) loss of 40.55 points to end the trading session at 5,095.57
NIKKEI 225 (NIK/O) gain of 24.44 points to end the trading session at 12,115.03

New York Stock Exchange (NYSE) stock market indicators for the day:
Advanced stock prices 1,289; declined stock prices 1,904; unchanged stock prices 71; stock prices hitting new highs 9 and stock prices hitting new lows 130.
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: Goldman Sachs Group Incorporated (NYSE: GS) stock price gained 7.95 points on the trading session, high on the trading session $133.70, low on the trading session $126.02 with a closing stock price at $133.00; Wells Fargo & Company (NYSE: WFC) stock price gained 0.10 points on the trading session, high on the trading session $35.75, low on the trading session $34.08 with a closing stock price at $34.27; Worthington Industries Incorporated (NYSE: WOR) stock price gained 0.53 points on the trading session, high on the trading session $17.74, low on the trading session $16.72 with a closing stock price at $17.11; Textron Incorporated (NYSE: TXT) stock price shed 1.41 points on the trading session, high on the trading session $34.11, low on the trading session $31.85 with a closing stock price at $32.55; Cleveland-Cliffs Incorporated (NYSE: CLF) stock price shed 2.44 points on the trading session, high on the trading session $73.85, low on the trading session $68.00 with a closing stock price at $69.39; Potash Corporation Saskatchewan (NYSE: POT) stock price gained 1.52 points on the trading session, high on the trading session $170.40, low on the trading session $160.86 with a closing stock price at $162.59; Transocean Incorporated (NYSE: RIG) stock price gained 2.62 points on the trading session, high on the trading session $126.06, low on the trading session $122.37 with a closing stock price at $124.49; State Street Corporation (NYSE: STT) stock price shed 0.93 points on the trading session, high on the trading session $55.89, low on the trading session $49.82 with a closing stock price at $53.10; General Dynamics Corporation (NYSE: GD) stock price shed 2.18 points on the trading session, high on the trading session $79.80, low on the trading session $76.75 with a closing stock price at $77.73; Pilgrim's Pride Corporation (NYSE: PPC) stock price shed 3.90 points on the trading session, high on the trading session $10.60, low on the trading session $6.06 with a closing stock price at $6.36; SPX Corporation (NYSE: SPW) stock price shed 4.70 points on the trading session, high on the trading session $92.55, low on the trading session $85.69 with a closing stock price at $86.79.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators today:
Advanced stock prices 984; declined stock prices 1,883; unchanged stock prices 147; stock prices hitting new highs 10; stock prices hitting new lows 123.
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: Sequenom Incorporated (NasdaqGS: SQNM) stock price gained 7.00 points on the trading session, high on the trading session $28.29, low on the trading session $23.95 with a closing stock price at $27.56; Energy Conversion Devices Incorporated (NasdaqGS: ENER) stock price gained 7.28 points on the trading session, high on the trading session $66.30, low on the trading session $62.13 with a closing stock price at $63.74; Sonic Corporation (NasdaqGS: SONC) stock price shed 0.50 points on the trading session, high on the trading session $16.00, low on the trading session $14.74 with a closing stock price at $15.43; James River Coal Company (NasdaqGS: JRCC) stock price shed 4.67 points on the trading session, high on the trading session $31.34, low on the trading session $27.12 with a closing stock price at $28.59; SunPower Corporation (NasdaqGS: SPWR) stock price gained 5.49 points on the trading session, high on the trading session $98.60, low on the trading session $92.49 with a closing stock price at $93.00; First Solar Incorporated (NasdaqGS: FSLR) stock price gained 10.91 points on the trading session, high on the trading session $229.56, low on the trading session $218.02 with a closing stock price at $221.80.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for today:
Advanced stock prices 420; declined stock prices 732; unchanged stock prices 72; stock prices hitting new highs 3; stock prices hitting new lows 68.

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 1,192.00 change -1.00
E-mini NASDAQ-100 (NQ) end of day price 1,671.25, change -0.75
E-mini S&P SmallCap 600 (SMP) end of day price 370.50, change 0.0
$5 DJIA (YM) end of day price 10,855 change -5

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.6843 to U.S. Dollars 1.4614
Japanese Yen 106.190 to U.S. Dollars 0.0094
British Pound 0.5416 to U.S. Dollars 1.8464
Canadian Dollar 1.0385 to U.S. Dollars 0.9629
Swiss Franc 1.0914 to U.S. Dollars 0.9163

Commodity Markets:
Energy Sector: Light Crude (NYMEX: NYM) shed $0.88 on the day for a closing price of $105.73 a barrel ($US per barrel)
Heating Oil (NYMEX: NYM) gained $0.01 on the day for a closing price of $3.03 a gallon ($US per gallon)
Natural Gas (NYMEX: NYM) shed $0.24 on the day for a closing price of $7.91 per million BTU ($US per mmbtu.)
Unleaded Gas (NYMEX: NYM) shed $0.00 on the day for a closing price of $2.59 a gallon ($US per gallon)

Metals Markets:
Gold Market Price (COMEX: CMX) gained $3.80 on the day for a closing price of $895.00 ($US per Troy ounce)
Silver (COMEX: CMX) gained $0.27 on the day for a closing price of $13.44 ($US per Troy ounce)
Platinum (NYMEX: NYM) gained $13.00 on the day for a closing price of $1,225.00 ($US per Troy ounce)
Copper (COMEX: CMX) shed $0.05 on the day for a closing price of $3.11 ($US per pound)

Livestock and Meat Markets (cents per lb.):
Lean Hogs (Chicago Mercantile Exchange: CME) gained 0.50 on the day for a closing price of 68.95
Pork Bellies (Chicago Mercantile Exchange: CME) gained 3.00 on the day for a closing price of 98.00
Live Cattle (Chicago Mercantile Exchange: CME) gained 0.75 on the day for a closing price of 104.20
Feeder Cattle (Chicago Mercantile Exchange: CME) gained 1.50 on the day for a closing price of 107.45

Other Commodities (cents per bushel):
Corn (Chicago Board of Trade: CBT) gained 2.75 on the day for a closing price of 563.00
Soybeans (Chicago Board of Trade: CBT) had no change on the day for a closing price of 1,190.50

Bond Market:
2 year bond gained 7/32 on the day for a closing price of 100 25/32 with a Yield of 1.94, Yield Change -0.13
5 year bond gained 18/32 on the day for a closing price of 101 with a Yield of 2.90, Yield Change -0.12
10 year bond had no change on the day for a closing price of 101 17/32 with a Yield of 3.80, Yield Change 0.00
30 year bond shed 12/32 on the day for a closing price of 101 15/32 with a Yield of 4.41, Yield Change +0.03

Thanks for reading