Stock Market Update - Monday, November 8, 2010 Cautious Choppy Trend
Stock Market Update
Monday, November 8, 2010
Latest US Economic News Headlines:
Dow Jones 11,406.76 -37.32 (-0.33%)
S&P 500 1,223.23 -2.62 (-0.21%)
Nasdaq 2,580.05 +1.07 (0.04%)
Dow Jones 2:00 PM Averages: DJIA 11,398.86 DN 45.22
30 INDUS 11,398.86 DN 45.22 OR 0.40%
20 TRANSP 4,911.10 DN 12.30 OR 0.25%
15 UTILS 406.29 DN 3.31 OR 0.81%
65 STOCKS 3,955.18 DN 16.82 OR 0.42%
Dow Jones 11,406.76 -37.32 (-0.33%)
S&P 500 1,223.23 -2.62 (-0.21%)
Nasdaq 2,580.05 +1.07 (0.04%)
Dow Jones 2:00 PM Averages: DJIA 11,398.86 DN 45.22
30 INDUS 11,398.86 DN 45.22 OR 0.40%
20 TRANSP 4,911.10 DN 12.30 OR 0.25%
15 UTILS 406.29 DN 3.31 OR 0.81%
65 STOCKS 3,955.18 DN 16.82 OR 0.42%
US COMMODITY PRICES: (NOV. 8, 4:00 PM EST)
Crude Oil 86.82 - 0.28%
Natural Gas 4.09 + 0.15%
Gasoline 2.17 -
Heating Oil 2.39 -
Gold 1409.94 + 1.17%
Silver 27.73 + 3.70%
Copper 3.95 + 0.15%
US DOLLAR FUTURES INDEX DXY: NOV. 8, 4:01PM EST: 77.04 Up 0.54 (0.70%)
US Dollar Gained, Stocks Edged Down
At the close of another choppy trading day the minor gain of the dollar, and minor loss in equities in the US and world markets shows investors a top and a bottom is now in place.
The dollar's performance today gained less than 0.71%, yet, the Dow declined 0.33%, the S&P declined 0.21%, Nasdaq closed up 0.04%. Basic Material, Energy and Technology sectors increased.
US equities are at an upper resistance area and now ready to decline against a rising dollar. If further overnight market manipulation takes place, you can expect the dollar to decline to its base tomorrow and stocks to show minor gain Tuesday.
Wheat prices rose to a four-week high today on speculation that a US government report tomorrow will show shrinking domestic and world grain supplies.
The U.S. banking cartel announced, as if it was a surprise, that the middle class has been unable to save any real money, due to the rising costs of food and energy. The US savings rate declined 1%.
The US Government removes those costs, from the cost of living, CPI number reports that is announces on inflation. And that well over 30,000,000 million American's are not able to find employment.
If fact if you do a little math you will see that over 430,000 American's loose their jobs every week, times 52 weeks a year, that comes to over 22,360,000 new unemployed American's per year. The real unemployment rate is near 30% of the US population.
California's unemployment is at a 70 year high. California alone is borrowing more than $40,000,000, that's $40million dollars a day to pay unemployment benefits to it's unemployed residence. California is so desperate, it is shipping its prisoners out of state to cut costs.
US Banker's announced today, that even though they have relaxed some lending standards, almost no one, especially small business, are able to qualify for a loan. And they stated that will be the US national trend for the foreseeable future.
In early morning trading the US equities and most commodities edged down against the dollar' rise.
In overnight trades the euro fell to $1.3935. As the euro weakened, the dollar strengthened, with the U.S. Dollar Index--tracking the U.S. currency against a basket of six others--up 0.6% recently.
At the close of another choppy trading day the minor gain of the dollar, and minor loss in equities in the US and world markets shows investors a top and a bottom is now in place.
The dollar's performance today gained less than 0.71%, yet, the Dow declined 0.33%, the S&P declined 0.21%, Nasdaq closed up 0.04%. Basic Material, Energy and Technology sectors increased.
US equities are at an upper resistance area and now ready to decline against a rising dollar. If further overnight market manipulation takes place, you can expect the dollar to decline to its base tomorrow and stocks to show minor gain Tuesday.
Wheat prices rose to a four-week high today on speculation that a US government report tomorrow will show shrinking domestic and world grain supplies.
The U.S. banking cartel announced, as if it was a surprise, that the middle class has been unable to save any real money, due to the rising costs of food and energy. The US savings rate declined 1%.
The US Government removes those costs, from the cost of living, CPI number reports that is announces on inflation. And that well over 30,000,000 million American's are not able to find employment.
If fact if you do a little math you will see that over 430,000 American's loose their jobs every week, times 52 weeks a year, that comes to over 22,360,000 new unemployed American's per year. The real unemployment rate is near 30% of the US population.
California's unemployment is at a 70 year high. California alone is borrowing more than $40,000,000, that's $40million dollars a day to pay unemployment benefits to it's unemployed residence. California is so desperate, it is shipping its prisoners out of state to cut costs.
US Banker's announced today, that even though they have relaxed some lending standards, almost no one, especially small business, are able to qualify for a loan. And they stated that will be the US national trend for the foreseeable future.
In early morning trading the US equities and most commodities edged down against the dollar' rise.
In overnight trades the euro fell to $1.3935. As the euro weakened, the dollar strengthened, with the U.S. Dollar Index--tracking the U.S. currency against a basket of six others--up 0.6% recently.
CRUDE OIL:
U.S. Crude Oil: $86.97 PER barrel
OIL FUTURES: Nymex Crude Closes 22c Higher At $87.07/Bbl
Light, sweet crude for December delivery settled up 21 cents at $87.06 a barrel on the New York Mercantile Exchange, after retreating from an intraday high of $87.49.
Brent crude on the ICE futures exchange recently rose 34 cents, or 0.4%, at $88.45 a barrel.
The ICE Dollar Index, which tracks the dollar against a basket of currencies, recently rose to 77.053 from 76.548.
Front-month December reformulated gasoline blend stock, or RBOB, fell 0.15 cent, or 0.1%, at $2.1785 a gallon. December heating oil climbed 1.36 cents, or 0.6%, at $23.984 a gallon.
NATURAL GAS:
U.S. NAT GAS: $4.08Futures Close 3.8% Higher At $4.088/MMBtu
PRECIOUS METALS:
U.S. Gold:$ 1,404.80
U.S. Silver: $ 27.47
The most actively traded gold contract, for December delivery, was recently up $7.30, or 0.5%, at $1,405 an ounce on the Comex division of the New York Mercantile Exchange. It had hit a record intraday high of $1,407.20 an ounce.
The spot price of gold hit $1,404/oz at 12:46 EST. It has since slipped back marginally to $1,399.80/oz, still up 0.5% on the day.
World Bank President Robert Zoellick, in an article published Sunday in the Financial Times, urged the world's developed economies to consider re-adopting a modified gold standard as a way to avoid currency disputes between nations.
Zoellick calls for a system that "is likely to need to involve the dollar, the euro, the yen, the pound and a renminbi that moves towards internationalization and then an open capital account." He said the system also should "consider employing gold as an international reference point of market expectations about inflation, deflation and future currency values."
Spot Gold Hits Record High $1,407
Spot gold climbed to a new record high Monday, breaking above $1,400 a troy ounce as renewed concerns over the sovereign debt situation in Europe drew investors toward the yellow metal's perceived haven status.The most actively traded gold contract, for December delivery, was recently up $7.30, or 0.5%, at $1,405 an ounce on the Comex division of the New York Mercantile Exchange. It had hit a record intraday high of $1,407.20 an ounce.
The spot price of gold hit $1,404/oz at 12:46 EST. It has since slipped back marginally to $1,399.80/oz, still up 0.5% on the day.
World Bank President Robert Zoellick, in an article published Sunday in the Financial Times, urged the world's developed economies to consider re-adopting a modified gold standard as a way to avoid currency disputes between nations.
Zoellick calls for a system that "is likely to need to involve the dollar, the euro, the yen, the pound and a renminbi that moves towards internationalization and then an open capital account." He said the system also should "consider employing gold as an international reference point of market expectations about inflation, deflation and future currency values."
U.S. BONDS/TREASURYS
Demand for Treasurys fell, lifting the yield on the 10-year note up to 2.54%.
Demand for Treasurys fell, lifting the yield on the 10-year note up to 2.54%.
3 Month 0.10% -0.01 (-9.09%)
6 Month 0.14% 0.00 (0.00%)
2 Year 0.40% +0.02 (5.26%)
5 Year 1.13% +0.02 (1.80%)
10 Year 2.55% +0.02 (0.79%)
30 Year 4.12% -0.01 (-0.24%)
6 Month 0.14% 0.00 (0.00%)
2 Year 0.40% +0.02 (5.26%)
5 Year 1.13% +0.02 (1.80%)
10 Year 2.55% +0.02 (0.79%)
30 Year 4.12% -0.01 (-0.24%)
____________________________________________________________
Canadian Market:
Toronto Stocks Up Slightly
The stock market was slightly higher at midday Monday, led by materials, gold producers and, technology.
At 11:45 a.m. EDT, the S&P/TSX Composite Index was up 42.13 points, or 0.33%, at 12967.24. Advancers led decliners 845 to 631. Trading volume was 278 million shares. The S&P/TSX 60 Index was up 1.73 points, or 0.2%, to 742.07.
Toronto Indexes, Volume; 3 PM EST Composite Up 82.00
S&P/TSX Composite 13007.11 up 82.00 or 0.6%
S&P/TSX 60 Index 744.02 up 3.68 or 0.5%
Financials 182.69 off 0.01 or 0.0%
Materials 426.97 up 8.18 or 2.0%
Energy 302.68 up 0.82 or 0.3%
Industrials 106.93 up 0.23 or 0.2%
IT 29.45 up 0.20 or 0.7%
Volume Monday Friday
2-3 73.0M 87.5M
9:30-3 529.6M 433.9M
At 11:45 a.m. EDT, the S&P/TSX Composite Index was up 42.13 points, or 0.33%, at 12967.24. Advancers led decliners 845 to 631. Trading volume was 278 million shares. The S&P/TSX 60 Index was up 1.73 points, or 0.2%, to 742.07.
Toronto Indexes, Volume; 3 PM EST Composite Up 82.00
S&P/TSX Composite 13007.11 up 82.00 or 0.6%
S&P/TSX 60 Index 744.02 up 3.68 or 0.5%
Financials 182.69 off 0.01 or 0.0%
Materials 426.97 up 8.18 or 2.0%
Energy 302.68 up 0.82 or 0.3%
Industrials 106.93 up 0.23 or 0.2%
IT 29.45 up 0.20 or 0.7%
Volume Monday Friday
2-3 73.0M 87.5M
9:30-3 529.6M 433.9M
____________________________________________________________
____________________________________________________________
WORLD FOREX CURRENCIES SNAPSHOT:
(MONDAY, NOV 8, 2010 4:00 PM EST)
WORLD MARKETS SNAPSHOT:
(MONDAY, NOV 8, 2010 4:00 PM EST)
European Markets:
European Equities Closed Mostly Lower Monday.
The Stoxx Europe 600 index ended little changed at 271.91. The U.K.'s FTSE 100 closed down 0.4% at 5849.96, Germany's DAX fell 0.1% to 6750.50 and France's CAC-40 slipped 0.1% to 3913.70. The Dow Jones Industrial Average was recently 0.3% lower at 11,410. ____________________________________________________________
WORLD FOREX CURRENCIES SNAPSHOT:
(MONDAY, NOV 8, 2010 4:00 PM EST)
| EUR/USD | 1.3904 | -0.0140 (-1.00%) |
| USD/JPY | 81.1700 | -0.1700 (-0.21%) |
| GBP/USD | 1.6142 | -0.0048 (-0.30%) |
| CAD/USD | 0.9961 | -0.0034 (-0.34%) |
| USD/HKD | 7.7511 | +0.0006 (0.01%) |
| USD/CNY | 6.6792 | +0.0242 (0.36%) |
| AUD/USD | 1.0101 | -0.0043 (-0.42%) |
WORLD MARKETS SNAPSHOT:
(MONDAY, NOV 8, 2010 4:00 PM EST)
Nikkei 225 9,732.92 +106.93 (1.11%)
Hang Seng Index 24,964.37 +87.55 (0.35%)
TSEC 8,430.58 -18.76 (-0.22%)
FTSE 100 5,849.96 -25.39 (-0.43%)
DJ EURO STOXX 50 2,867.96 -7.98 (-0.28%)
CAC 40 3,913.70 -3.03 (-0.08%)
S&P TSX 13,029.46 +104.35 (0.81%)
S&P/ASX 200 4,778.40 -22.20 (-0.46%)
BSE Sensex 20,852.38 -41.19 (-0.20%))
____________________________________________________________
MONDAY'S U.S. ECONOMIC CALENDAR:
10:00 a.m.
Oct US Employment Trends Index (ETI) (previous 97), US Employment Trends Index (ETI) MoM Change (previous -0.3%)
12:30 p.m.
Federal Reserve Bank of St. Louis President James Bullard speech in New York
1:40 p.m.
Dallas Fed Pres Fisher speaks on 'The Impacts of Financial Reform on the Road to Economic Recovery' in San Antonio, Tex.
3:30 p.m.
Fed Gov Warsh speaks in New York.
N/A
Securities Industry and Financial Markets Association - SIFMA Annual Meeting
Oct US Employment Trends Index (ETI) (previous 97), US Employment Trends Index (ETI) MoM Change (previous -0.3%)
12:30 p.m.
Federal Reserve Bank of St. Louis President James Bullard speech in New York
1:40 p.m.
Dallas Fed Pres Fisher speaks on 'The Impacts of Financial Reform on the Road to Economic Recovery' in San Antonio, Tex.
3:30 p.m.
Fed Gov Warsh speaks in New York.
N/A
Securities Industry and Financial Markets Association - SIFMA Annual Meeting
____________________________________________________________
US STOCK MARKET SUMMARY, FRIDAY, NOV. 5, 2010:
Stocks:
U.S. stocks were flat Friday, taking a breather a day after surging to two-year highs even as U.S. nonfarm payrolls increased more than expected. The measure was weighed down by Kraft Foods. The food giant posted an 8.5% decline in third-quarter profit late Thursday.
Treasurys:
Treasurys lost ground Friday as demand for safer assets was undercut by a report showing that the U.S. economy added jobs. Bond dealers also pushed down prices in an attempt to stir interest in the $72 billion in new government bonds being auctioned next week.
Forex:
The dollar rallied -- reversing some of the losses suffered in the wake of the Federal Reserve's stimulus plan -- after the non-farm U.S. payrolls report surprised to the upside.
© Copyright 1999-2010, Online Consultancy Network™. All Rights Reserved.
U.S. stocks were flat Friday, taking a breather a day after surging to two-year highs even as U.S. nonfarm payrolls increased more than expected. The measure was weighed down by Kraft Foods. The food giant posted an 8.5% decline in third-quarter profit late Thursday.
Treasurys:
Treasurys lost ground Friday as demand for safer assets was undercut by a report showing that the U.S. economy added jobs. Bond dealers also pushed down prices in an attempt to stir interest in the $72 billion in new government bonds being auctioned next week.
Forex:
The dollar rallied -- reversing some of the losses suffered in the wake of the Federal Reserve's stimulus plan -- after the non-farm U.S. payrolls report surprised to the upside.
© Copyright 1999-2010, Online Consultancy Network™. All Rights Reserved.
Labels: bonds, business, commodity, crude oil, currencies, dollar, economic, economy, euro, forex, futures, online consultancy network, stock market update, stocks, world financial news, yen
posted by Benjamin Train @ 7:19 AM
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