Microsoft and Yahoo Merger

[MTnews]

Daily Market Commentary for May 2, 2008 from

After the closing bell, news came out that Microsoft has agreed to increase its bid for Yahoo, to the range of $33 a share. A hostile takeover of Yahoo by Microsoft has not been totally ruled out, as of yet. ()

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 48.20 points on the day to end the session at 13,058.20

NYSE (New York Stock Exchange) gain of 56.13 points to end the session at 9,451.17

NASDAQ loss of 3.72 points for a close at 2,476.99

S&P 500 gain of 4.55 points for a close at 1,413.89

FTSE All-World ex-U.S. gain of 2.30 points to close at 254.17

FTSE RAFI 1000 gain of 9.67 points to close at 5,731.52

BEL 20 gain of 20.91 points to close at 3,946.34

CAC 40 gain of 73.17 points to close at 5,069.71

FTSE100 gain of 128.2 points to close at 6,215.50

NIKKEI 225 gain of 282.7 points on the day to end the session at 14,049.30

News on the New York Stock Exchange (NYSE) today: advanced stocks 1,775; declined stocks 1,343; unchanged stocks 119; stocks hitting new highs 72; stocks hitting new lows 20.
Daily Trading Range and end of day trading results for volatile NYSE stocks traded by active Day Traders today:
Lubrizol Corporation (NYSE: LZ) shed 6.00 points on the trading day, high on the trading day $59.44, low on the trading day $53.41, for a closing price at $53.50;
Triumph Group Incorporated (NYSE: TGI) gained 11.16 points on the trading day, high on the trading day $71.52, low on the trading day $64.40, for a closing price at $71.24;
Superior Energy Services Incorporated (NYSE: SPN) gained 3.97 points on the trading day, high on the trading day $47.75, low on the trading day $44.70, for a closing price at $47.33;
Texas Industries Incorporated (NYSE: TXI) shed 2.78 points on the trading day, high on the trading day $79.93, low on the trading day $74.60, for a closing price at $76.24;
Transocean, Incorporated (NYSE: RIG) gained 6.15 points on the trading day, high on the trading day $152.43, low on the trading day $146.50, for a closing price at $151.92;
Visa Incorporated (NYSE: V) shed 2.65 points on the trading day, high on the trading day $87.50, low on the trading day $81.00, for a closing price at $82.75;
Mastercard Incorporated (NYSE: MA) shed 8.90 points on the trading day, high on the trading day $298.40, low on the trading day $281.85, for a closing price at $285.04;
Petroleo Brasileiro (NYSE: PBR) gained 2.47 points on the trading day, high on the trading day $126.65, low on the trading day $122.51, for a closing price at $124.42.

News on the NASDAQ today: advanced stocks 1,268; declined stocks 1,616; unchanged stocks 146; stocks hitting new highs 62; stocks hitting new lows 67.
Trading range and end of day trading results for volatile NASDAQ stocks traded by active Day Traders today:
Dynamic Materials Corporation (NasdaqGS: BOOM) shed 10.21 points on the trading day, high on the trading day $39.36, low on the trading day $35.60, for a closing price at $36.38;
Morningstar Incorporated (NasdaqGS: MORN) gained 11.87 points on the trading day, high on the trading day $73.57, low on the trading day $64.82, for a closing price at $71.84;
MicroStrategy Incorporated (NasdaqGS: MSTR) shed 16.84 points on the trading day, high on the trading day $80.87, low on the trading day $72.40, for a closing price at $73.41;
Google Incorporated (NasdaqGS: GOOG) shed 11.79 points on the trading day, high on the trading day $602.45, low on the trading day $579.30, for a closing price at $581.29;
First Solar, Incorporated (NasdaqGS: FSLR) gained 12.89 points on the trading day, high on the trading day $278.90, low on the trading day $266.70, for a closing price at $276.24.

News on the American Stock Exchange (AMEX) today: advanced stocks 645; declined stocks 520; unchanged stocks 89; stocks hitting new highs 23; stocks hitting new lows 24.

U.S. Factory Orders increased by 1.4% in March compared to consensus of an increase by 0.3%; March Factory Orders, Excluding Transportation rose by 2.2%; March Factory Orders, Excluding Defense rose by 1.4%; March Durable Goods Revised to an increase by 0.1% from a decrease by 0.3%; February Factory Orders revised to a drop by 0.9% from a decrease by 1.3%.

U.S. April Nonfarm Payrolls fell 20K compared to consensus of a drop by 85K; U.S. April Unemployment Rate 5.0% compared to consensus of 5.2%; U.S. April Average Hourly Earnings increased by $0.01 to $17.88; U.S. April Manufacturing Payrolls fell 46K; U.S. April Service-Producing increased by 90K; U.S. April Overall Workweek fell by 0.1 Hour to 33.7 Hours; U.S. March Payrolls Revised to a drop by 81K from a drop by 80K; U.S. March Unemployment Left Unrevised at 5.1%.

Commodities Markets
Energy Sector: Light Crude (NYM) gained $3.80 on the day to close at $116.32 a barrel ($US per bbl.); Heating Oil (NYM) gained $0.10 on the day to close at $3.22 a gallon ($US per gal.); Natural Gas (NYM) gained $0.22 on the day to close at $10.78 per million BTU ($US per mmbtu.); Unleaded Gas (NYM) gained $0.08 on the day to close at $2.97 a gallon ($US per gal.).

Metals Markets: Gold (CMX) gained $7.10 to close at $858.00 ($US per Troy oz.); Silver (CMX) gained $0.26 to close at $16.47 ($US per Troy oz.); Platinum (NYM) gained $25.90 to close at $1,906.50 ($US per Troy oz.) and Copper (CMX) gained $0.13 to close at $3.82 ($US per lb.).

Livestock and Meat Markets (cents per lb.): Lean Hogs (CME) gained 0.85 to close at 71.95; Pork Bellies (CME) gained 0.15 to close at 74.70; Live Cattle (CME) gained 0.68 to close at 92.13; Feeder Cattle (CME) gained 0.88 to close at 108.15.

Other Commodities (cents per bu.): Corn (CBT) shed 3.75 to close the session at 613.50 and Soybeans (CBT) gained 33.50 to close the session at 1,304.50.

Bonds were higher across the board today: 2 year bond shed 5/32 to close at 99 11/32 with a Yield of 2.46, Yield Change +0.09; 5 year bond shed 15/32 to close at 99 23/32 with a Yield of 3.18, Yield Change +0.10; 10 year bond shed 25/32 to close at 97 1/32 with a Yield of 3.86, Yield Change +0.10; the 30 year bond shed 1 11/32 to close at 96 18/32 on the day with a Yield of 4.58, Yield Change +0.08.

The e-mini Dow $5 ended the commodity session today at 13,032 with a gain of 31 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.

At the close of the week, performance results for our Moderators:

Stocks Trading Room:
Jeannie - $6,573
Barry - $16,328
Marty - $6,993
Sam - $6,942

Futures Trading Room:
JT - $6,377

Forex Trading Room:
JT - $19,050

Daily Swing Trades:
Barry - $27,910

Weekly Swing Trades:
Jeannie - $6,120

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