Energy Stocks

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Daily Market Commentary for June 10, 2008 from

Todays top stock pick for the trading session was XTO Energy Incorporated (NYSE: XTO) which posted a slight loss at the closing bell of less than one point. (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 8.55 points on the day to end the session at 12,288.87
NYSE (New York Stock Exchange) loss of 81.64 points to end the session at 9,067.45
NASDAQ loss of 10.52 points for a close at 2,448.94
S&P 500 loss of 3.23 points for a close at 1,358.53
FTSE All-World ex-U.S. loss of 3.24 points to close at 243.21
FTSE RAFI 1000 loss of 2.52 points for a close at 5,380.25
BEL 20 loss of 23.26 points to close at 3,617.45
CAC 40 loss of 38.3 points to close at 4,761.08
FTSE100 loss of 50.3 points to close at 5,827.3
NIKKEI 225 triple digit loss of 160.2 points to close at 14,021.2

News on the New York Stock Exchange (NYSE) today: advanced stocks 1,105; declined stocks 2,084; unchanged stocks 85; stocks hitting new highs 32; stocks hitting new lows 160. Daily Trading Range and end of day trading results for volatile stocks on the NYSE traded by active Day Traders today: Telefonos de Mexico, S.A. (NYSE: TMX) shed 0.15 points on the trading day, high on the trading day $41.93, low on the trading day $38.75 for a closing price at $41.30; XTO Energy Incorporated (NYSE: XTO) shed 0.70 points on the trading day, high on the trading day $70.63, low on the trading day $65.88 for a closing price at $67.02; CF Industries Holdings Incorporated (NYSE: CF) shed 0.39 points on the trading day, high on the trading day $151.86, low on the trading day $145.52 for a closing price at $150.73; Petroleo Brasileiro SA (NYSE: PBR) shed 2.71 points on the trading day, high on the trading day $68.50, low on the trading day $64.76 for a closing price at $66.29; CME Group Incorporated (NYSE: CME) gained 0.88 points on the trading day, high on the trading day $397.77, low on the trading day $384.48 for a closing price at $390.25; ULTRASHORT FINANCIAL (NYSE: SKF) shed 1.56 points on the trading day, high on the trading day $129.50, low on the trading day $122.28 for a closing price at $124.76; Texas Instruments Incorporated (NYSE: TXN) shed 0.91 points on the trading day, high on the trading day $30.95, low on the trading day $30.39 for a closing price at $30.42; Walter Industries Incorporated (NYSE: WLT) shed 4.32 points on the trading day, high on the trading day $93.74, low on the trading day $88.69 for a closing price at $91.00; CONSOL Energy Incorporated (NYSE: CNX) shed 6.09 points on the trading day, high on the trading day $107.79, low on the trading day $99.26 for a closing price at $101.93; Oil Service HOLDRs (NYSE: OIH) shed 5.40 points on the trading day, high on the trading day $216.85, low on the trading day $209.20 for a closing price at $212.05; Goldman Sachs Group Incorporated (NYSE: GS) gained 1.45 points on the trading day, high on the trading day $169.43, low on the trading day $163.21 for a closing price at $167.21; Concho Resources Incorporated (NYSE: CXO) shed 2.18 points on the trading day, high on the trading day $40.00, low on the trading day $35.36 for a closing price at $37.62; Diamond Offshore Drilling Incorporated (NYSE: DO) shed 3.94 points on the trading day, high on the trading day $135.57, low on the trading day $130.03 for a closing price at $131.48; Whiting Petroleum Corporation (NYSE: WLL) shed 5.35 points on the trading day, high on the trading day $108.14, low on the trading day $99.66 for a closing price at $102.49; Forest Oil Corporation (NYSE: FST) shed 3.02 points on the trading day, high on the trading day $74.70, low on the trading day $68.84 for a closing price at $70.47; United States Steel Corporation (NYSE: X) shed 7.88 points on the trading day, high on the trading day $182.53, low on the trading day $174.13 for a closing price at $176.41; Hess Corporation (NYSE: HES) shed 4.53 points on the trading day, high on the trading day $128.13, low on the trading day $120.86 for a closing price at $122.94; Mosaic Company (NYSE: MOS) gained 2.90 points on the trading day, high on the trading day $145.40, low on the trading day $136.64 for a closing price at $143.91.

News on the NASDAQ today: advanced stocks 1,184 declined stocks 1,675; unchanged stocks 139; stocks hitting new highs 15; stocks hitting new lows 172. Trading range and end of day trading results for volatile NASDAQ stocks traded by active Day Traders today: First Solar, Incorporated (NasdaqGS: FSLR) gained 0.80 points on the trading day, high on the trading day $247.79, low on the trading day $233.97 for a closing price at $245.56; American Superconductor Corporation (NasdaqGS: AMSC) gained 6.99 points on the trading day, high on the trading day $45.00, low on the trading day $40.59 for a closing price at $43.07; CMGI Incorporated (NasdaqGS: CMGI) shed 3.43 points on the trading day, high on the trading day $12.50, low on the trading day $11.20 for a closing price at $11.57; CompuCredit Corporation (NasdaqGS: CCRT) shed 2.10 points on the trading day, high on the trading day $8.48, low on the trading day $5.52 for a closing price at $6.68; Apple Incorporated (NasdaqGS: AAPL) gained 4.03 points on the trading day, high on the trading day $186.78, low on the trading day $179.02 for a closing price at $185.64.

News on the American Stock Exchange (AMEX) today: advanced stocks 365; declined stocks 812; unchanged stocks 78; stocks hitting new highs 13; stocks hitting new lows 41.

U.S. April Trade Deficit came in at $60.90 Billion compared to consensus of $60.00 Billion; March Trade Balance revised to Deficit of $56.49B from Deficit of $58.21 Billion; April Exports came in at $155.55 Billion, higher by 3.3%; April Imports came in at $216.45 Billion, higher by 4.5%.

Energy Information Administration: U.S. Gasoline to Average $3.78 per gallon in 2008; Saudi Arabia increased Oil Output 300,000 B/D in mid-May; Security problems lower Crude Production in Nigeria; Third Quarter U.S. Oil Demand seen flat versus year ago at 20.7 Million Barrels per Day; 2008 U.S. gasoline price outlook revised up 7%; Third Quarter Gasoline use seen 9.44 Million Barrels per Day versus 9.49 Million Barrels per Day a Year ago; 2008 Storm Projections are 9-10 days of lost energy output; 2008 U.S. Diesel Price to average $4.32 per gallon, up 50% from 2007; Summer gasoline use seen down 0.6% on the year at 9.38 Million Barrels per Day; Projects 78 Billion Cubic Feet Per Day Natural Gas to be shut in 2008 storms; Iraq plans to raise Northern Crude Exports in June; OPEC Oil Production could increase in Third Quarter 2008; Second Quarter U.S. Oil Demand Seen down 1.25% versus Yr Ago, at 20.39 Million Barrels per Day; U.S. gasoline price to Peak at $4.15 per gallon in August.

President Federal Reserve Bank of Dallas, Richard W. Fisher: Global economy means inflation effects uncertain; Currency power relies on economic confidence; U.S. unfunded liabilities are biggest threat; Gradualism is ideal approach to monetary policy; monetary policy must now proceed in deliberate manner; U.S. economy is in a negative feedback loop; won't countenance building inflation expectations; U.S. wages not yet exerting inflationary pressure.

Redbook data: U.S. Retail Sales First Week of June fell 1.0% versus May.

Commodities Markets
Energy Sector: Light Crude (NYM) shed $3.04 on the day to close at $131.31 a barrel ($US per bbl.); Heating Oil (NYM) shed $0.06 on the day to close at $3.81 a gallon ($US per gal.); Natural Gas (NYM) shed $0.17 on the day to close at $12.44 per million BTU ($US per mmbtu.); Unleaded Gas (NYM) shed $0.07 on the day to close at $3.32 a gallon ($US per gal.).

Metals Markets: Gold (CMX) shed $26.90 to close at $871.71 ($US per Troy oz.); Silver (CMX) shed $0.58 to close at $16.64 ($US per Troy oz.); Platinum (NYM) shed $56.70 on the day to close at $2,002.90 ($US per Troy oz.) and Copper (CMX) shed $0.05 on the day to close at $3.56 ($US per lb.).

Livestock and Meat Markets (cents per lb.): Lean Hogs (CME) shed 0.15 to close at 74.60; Pork Bellies (CME) gained 1.25 to close at 73.45; Live Cattle (CME) shed 0.65 to close at 99.63; Feeder Cattle (CME) gained 0.30 to close at 110.98.

Other Commodities (cents per bu.): Corn (CBT) gained 17.50 to close the session at 702.75 and Soybeans (CBT) shed 6.00 to close session at 1,441.00.

Bond action for the day: 2 year bond shed 12/32 on the day to close at 99 14/32 with a Yield of 2.91, Yield Change +0.20; 5 year bond shed 24/32 to close at 99 24/32 with a Yield of 3.55, Yield Change +0.16; 10 year bond shed 26/32 to close at 98 6/32 with a Yield of 4.09, Yield Change +0.01; the 30 year bond shed 30/32 to close at 94 31/32 on the day with a Yield of 4.69, Yield Change +0.06.

The e-mini Dow $5 ended the commodity session today at 12,305 with a gain of 10 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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