Federal Rerserve Interest Rates

[MTnews]

Daily Market Commentary for December 15, 2008 from

It's likely that the Fed will drop interest rates to 0.5% which would be its lowest ever, tomorrow afternoon. ()

Economic data released today:

Industrial Production:
U.S. October Capacity Use Revised to 76.0% from 76.4%; U.S. October Industrial Production Revised to increase by 1.5% from an increase by 1.3%; U.S. November Capacity Utilization fell 0.6 points at 75.4% compared to consensus of 75.8%; U.S. November Industrial Production fell 0.6% compared to consensus of a drop by 0.6%.

Empire State Manufacturing Survey:
New York Fed December Manufacturing Index down 25.76 versus a drop by 25.43 in November; New York Fed December Prices Received down 11.70 versus 6.02 in November; New York Fed December Employment down 23.40 versus a drop by 28.92 in November;
New York Fed December New Orders down 20.78 versus a drop by 22.21 in November.

Treasury International Capital (TIC) Data for October:
Net foreign purchases of long-term securities were $1.5 billion. Net foreign purchases of long-term U.S. securities were negative $34.8 billion. Net purchases by private foreign investors were negative $17.5 billion and net purchases by foreign official institutions were negative $17.2 billion. U.S. residents sold a net $36.3 billion of long-term foreign securities. Net foreign acquisition of long-term securities, taking into account adjustments, is estimated to have been negative $13.3 billion.

European Central Bank comments today:
Money market recovery only modest by Late November; deposit facility use shows interbank trade impaired; unsecured interbank money markets persistently impaired; risk hedge funds may prompt sizeable unwinding; credit derivative swap market not yet tested by defaults; unexpected market events could trigger further unwinding; U.S. house prices only likely to bottom out end 2009; banking sector outlook uncertainty higher than in June; financial stability outlook remains uncertain.

Companies in the news today:
JPMorgan Chase was downgraded due to potential 4Q loss; Apple was downgraded by weak consumer spending; AT&T was downgraded due to weak economy.

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 65.15 points to end the trading session at 8,564.53
NYSE (New York Stock Exchange) loss of 46.06 points to end the trading session at 5,497.90
National Association of Securities Dealers Automated Quotations (NASDAQ) loss of 32.38 points to end the trading session at 1,508.34
S&P 500 (SPX) loss of 11.16 points to end the trading session at 868.57
FTSE All-World Index data excluding U.S. (AW01UK) gain of 1.12 points to end the trading session at 144.87
FTSE RAFI 1000 loss of 57.35 points to end the trading session at 3,322.88
BEL 20 (BEL20) gain of 18.27 points to end the trading session at 1,873.11
CAC 40 (CAC40) loss of 27.94 points to end the trading session at 3,185.66
FTSE100 (UKX100) loss of 2.79 points to end the trading session at 4,277.56
NIKKEI 225 (NIK/O) for Dec 12: triple digit loss of 484.68 points to end the trading session at 8,235.87

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 838, declined stock prices 2,327, unchanged stock prices 65, stock prices hitting new highs 3 and stock prices hitting new lows 71. 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: IntercontinentalExchange Incorporated (NYSE: ICE) stock price shed 5.63 points on the trading session, high on the trading session $77.56, low on the trading session $69.86, with a closing stock price at $71.16; BP plc (NYSE: BP) stock price gained 0.71 points on the trading session, high on the trading session $48.38, low on the trading session $46.90, with a closing stock price at $47.75; Honeywell International Incorporated (NYSE: HON) stock price gained 1.83 points on the trading session, high on the trading session $31.86, low on the trading session $30.07, with a closing stock price at $30.78; Centex Corporation (NYSE: CTX) stock price shed 0.82 points on the trading session, high on the trading session $11.75, low on the trading session $10.25, with a closing stock price at $10.54; Toyota Motor Corporation (NYSE: TM) stock price gained 2.50 points on the trading session, high on the trading session $66.92, low on the trading session $64.80, with a closing stock price at $65.70; Direxion Financial Bear 3X Shares (NYSE: FAZ) stock price gained 5.35 points on the trading session, high on the trading session $53.15, low on the trading session $45.76, with a closing stock price at $51.00.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 709, declined stock prices 2,164, unchanged stock prices 141, stock prices hitting new highs 3 and stock prices hitting new lows 88. 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: Baidu.com Incorporated (NasdaqGS: BIDU) stock price shed 4.09 points on the trading session, high on the trading session $119.89, low on the trading session $111.50, with a closing stock price at $118.09; First Solar Incorporated (NasdaqGS: FSLR) stock price shed 5.72 points on the trading session, high on the trading session $119.42, low on the trading session $111.00 with a closing stock price at $111.50.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 252, declined stock prices 372, unchanged stock prices 63, stock prices hitting new highs 3 and stock prices hitting new lows 25.

Chicago Board of Trade Futures Market activity for the day, at time of this posting for March 2009 Contracts and December 2008 Contracts for E-mini S&P Small Cap 600:
E-mini S&P 500 (ES): End of trading session price 872.50; Change for the trading session -13.00
E-mini NASDAQ-100 (NQ): End of trading session price 1,198.00; Change for the trading session -21.00
E-mini DOW $5 (YM): End of trading session price 8,600; Change for the trading session -80
E-mini S&P MidCap 400 (MF): End of trading session price 500.70; Change for the trading session -10.50
E-mini S&P Small Cap 600 (HS): End of trading session price 244.80; Change for the trading session -6.90

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7294 to U.S. Dollars 1.3709
Japanese Yen 90.70 to U.S. Dollars 0.0110
British Pound 0.6535 to U.S. Dollars 1.5303
Canadian Dollar 1.2322 to U.S. Dollars 0.8116
Swiss Franc 1.1581 to U.S. Dollars 0.8635

COMMODITY MARKETS:

Energy Sector - Nymex:
Light Crude (January 09) shed $1.77 on the trading session for a closing price of $44.51 per barrel ($US per barrel)
Heating Oil (January 09) shed $0.03 on the trading session for a closing price of $1.49 a gallon ($US per gallon)
Natural Gas (January 09) gained $0.13 on the trading session for a closing price of $5.68 per million BTU ($US per mmbtu.)
Unleaded Gas (December 08) shed $0.04 on the trading session for a closing price of $1.04 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (February 09) gained $16.00 on the trading session for a closing price of $836.50 ($US per Troy ounce)
Silver (March 09) gained $0.39 on the trading session for a closing price of $10.62 ($US per Troy ounce)
Platinum (January 09) gained $17.10 on the trading session for a closing price of $839.20 ($US per Troy ounce)
Copper (March 09) shed $0.02 on the trading session for a closing price of $1.41 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (October 09) gained 0.30 on the trading session for a closing price of 62.58
Pork Bellies (February 09) shed 0.23 on the trading session for a closing price of 80.98
Live Cattle (February 09) gained 1.00 on the trading session for a closing price of 83.80
Feeder Cattle (January 09) gained 1.48 on the trading session for a closing price of 87.93

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (March 09) gained 1.75 on the trading session for a closing price of 375.25
Soybeans (January 09) shed 6.75 on the trading session for a closing price of 849.50

BOND MARKET:
2 year Bond closing price 100 31/32, change 1/32, Yield 0.74, Yield change -0.01
5 year Bond closing price of 102 13/32, change 5/32, Yield 1.48, Yield change -0.04
10 year Bond closing price 110 19/32, change 12/32, Yield 2.53, Yield change -0.04
30 year Bond closing price 130 1/32, change 1 29/32, Yield 2.96, Yield change -0.08

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