Unemployment Rate

[MTnews]

Daily Market Commentary for November 7, 2008 from

The U.S. unemployment rate hit a 14-year high as the U.S. economy lost 240,000 job in October! ()

Employment Situation:
U.S. October Nonfarm Payrolls fell by 240K as compared to consensus of a drop by 200K; U.S. October Unemployment Rate came in at 6.5 percent as compared to consensus of rate of 6.3 percent; U.S. October Average Hourly Earnings increased by $0.04 to $18.21; U.S. October Manufacturing Payrolls fell by 90K; U.S. October Service-Producing Payrolls fell by 108K; U.S. October Overall Workweek change by 0 Hours to 33.6 Hours; U.S. September Payrolls Revised to a drop by 284K from a drop by 159K which is the highest Since 2001; U.S. September Unemployment left Unrevised at 6.1 percent; U.S. Jobless Rate Highest since March 1994.

Wholesale Trade:
U.S. September Wholesale Inventories fell 0.1 percent compared to expected increase by 0.4 percent.

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) triple digit gain of 248.10 points on the day to end the trading session at 8,943.89
NYSE (New York Stock Exchange) triple digit gain of 203.52 points to end the trading session at 5,870.92
National Association of Securities Dealers Automated Quotations (NASDAQ) gain of 38.70 points to end the trading session at 1,647.40
S&P 500 gain of 25.87 points to end the trading session at 930.75
FTSE All-World excluding U.S. gain of 3.32 points to end the trading session at 151.06
FTSE RAFI 1000 gain of 64.93 points to end the trading session at 3,569.75
BEL 20 (BEL20) gain of 23.72 points to end the trading session at 2,156.59
CAC 40 (CAC40) gain of 81.87 points to end the trading session at 3,469.12
FTSE100 (UKX100) gain of 92.55 points to end the trading session at 4,364.96
NIKKEI 225 (NIK/O) triple digit loss of 316.14 points to end the trading session at 8,583.00

New York Stock Exchange (NYSE) stock market indicators for the day:
Advanced stock prices 2,161, declined stock prices 992; unchanged stock prices 87; stock prices hitting new highs 4 and stock prices hitting new lows 106. 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: Fluor Corporation (NYSE: FLR) stock price gained 7.02 points on the trading session, high on the trading session $43.99, low on the trading session $38.67 with a closing stock price at $41.03; Transocean Incorporated (NYSE: RIG) stock price gained 1.26 points on the trading session, high on the trading session $77.74, low on the trading session $74.03 with a closing stock price at $77.11; Ultrashort Financial ProShares Corporation (NYSE: SKF) stock price shed 6.48 points on the trading session, high on the trading session $148.35, low on the trading session $136.44 with a closing stock price at $137.85; Goldman Sachs Group Incorporated (NYSE: GS) stock price shed 2.94 points on the trading session, high on the trading session $81.85, low on the trading session $75.00 with a closing stock price at $77.78; CME Group Incorporated (NYSE: CME) stock price gained 10.06 points on the trading session, high on the trading session $269.36, low on the trading session $252.62 with a closing stock price at $269.70; Potash Corporation Saskatchewan (NYSE: POT) stock price gained 1.49 points on the trading session, high on the trading session $82.80, low on the trading session $78.32 with a closing stock price at $80.48; MasterCard Incorporated (NYSE: MA) stock price gained 4.43 points on the trading session, high on the trading session $151.71, low on the trading session $142.00 with a closing stock price at $147.73.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators today:
Advanced stock prices 1,779; declined stock prices 1,080; unchanged stock prices 122; stock prices hitting new highs 3; stock prices hitting new lows 177. 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: Fuel Systems Solutions Incorporated (NasdaqGS: FSYS) stock price gained 11.98 points on the trading session, high on the trading session $39.41, low on the trading session $30.22 with a closing stock price at $38.69; True Religion Apparel Incorporated (NasdaqGS: TRLG) stock price shed 0.76 points on the trading session, high on the trading session $17.60, low on the trading session $13.72 with a closing stock price at $15.09; Priceline.com Incorporated (NasdaqGS: PCLN) stock price gained 7.53 points on the trading session, high on the trading session $57.55, low on the trading session $49.98 with a closing stock price at $54.60; Qualcomm Incorporated (NasdaqGS: QCOM) stock price gained 2.82 points on the trading session, high on the trading session $36.44, low on the trading session $34.07 with a closing stock price at $35.87; Google Incorporated (NasdaqGS: GOOG) stock price gained 2.78 points on the trading session, high on the trading session $341.15, low on the trading session $325.33 with a closing stock price at $334.00.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for today:
Advanced stock prices 442; declined stock prices 393; unchanged stock prices 69; stock prices hitting new highs 4 and stock prices hitting new lows 19.

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 936.50 change 32.00
E-mini NASDAQ-100 (NQ) end of day price 1,287.50 change 47.00
E-mini S&P SmallCap 600 (SMP) end of day price 272.70 change 6.20
$5 DJIA (YM) end of day price 8,990 change 290

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7847 to U.S. Dollars 1.2744
Japanese Yen 98.420 to U.S. Dollars 0.0102
British Pound 0.6386 to U.S. Dollars 1.566
Canadian Dollar 1.1879 to U.S. Dollars 0.8418
Swiss Franc 1.1780 to U.S. Dollars 0.8489

Commodity Markets:
Energy Sector: Light Crude (NYMEX: NYM) gained $0.27 on the day for a closing price of $61.04 a barrel ($US per barrel)
Heating Oil (NYMEX: NYM) gained $0.04 on the day for a closing price of $1.98 a gallon ($US per gallon)
Natural Gas (NYMEX: NYM) shed $0.23 on the day for a closing price of $6.97 per million BTU ($US per mmbtu.)
Unleaded Gas (NYMEX: NYM) gained $0.01 on the day for a closing price of $1.35 a gallon ($US per gallon)

Metals Markets:
Gold Market Price (COMEX: CMX) gained $2.00 on the day for a closing price of $7324.20 ($US per Troy ounce)
Silver (COMEX: CMX) shed $0.09 on the day for a closing price of $9.96 ($US per Troy ounce)
Platinum (NYMEX: NYM) gained $13.70 on the day for a closing price of $852.00 ($US per Troy ounce)
Copper (COMEX: CMX) shed $0.03 on the day for a closing price of $1.70 ($US per pound)

Livestock and Meat Markets (cents per lb.):
Lean Hogs (Chicago Mercantile Exchange: CME) gained 0.58 on the day for a closing price of 55.40
Pork Bellies (Chicago Mercantile Exchange: CME) gained 2.30 on the day for a closing price of 86.10
Live Cattle (Chicago Mercantile Exchange: CME) shed 0.50 on the day for a closing price of 92.80
Feeder Cattle (Chicago Mercantile Exchange: CME) gained 0.25 on the day for a closing price of 99.23

Other Commodities (cents per bushel):
Corn (Chicago Board of Trade: CBT) shed 2.50 on the day for a closing price of 375.500
Soybeans (Chicago Board of Trade: CBT) gained 15.00 on the day for a closing price of 921.00

Bond Market:
2 year bond shed 3/32 on the day for a closing price of 100 10/32 with a Yield of 1.32, Yield Change 0.03
5 year bond shed 13/32 on the day for a closing price of 100 29/32 with a Yield of 2.55, Yield Change 0.09
10 year bond shed 21/32 on the day for a closing price of 101 26/32 with a Yield of 3.77, Yield Change 0.08
30 year bond shed 25/32 on the day for a closing price of 104 25/32 with a Yield of 4.24, Yield Change 0.05

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

Stocks Trading Room:
Jeannie $7,409
Barry $9,262
Sam $4,643

Futures Trading Room:
JT $3,460
James $2,960

Forex Trading Room:
JT $12,600

Daily Swing Trades:
Barry $13,920

Weekly Swing Trades:
Jeannie $710.00

Access upcoming scheduled economic data anytime by viewing the Economic Calendar from Millennium-Traders, free access to visitors on our website.

Visitors may subscribe to our free Weekly MarketNews for a review of the previous weeks trading news plus, view upcoming economic data scheduled for the week ahead.

Review current edition as well as, archives of the News & Commentary plus, view complete details of calls made in our Trading Rooms and stock picks from our Swing Trading services. Traders should review our FREE Monthly Trading Lesson posted on our website.

Thanks for reading