Moody's
Moody's credit ratings agency commented on AAA ratings for Germany, France, the U.K. and the U.S. Moody's said that the United States and Britain are more likely to see a downgrade than rivals Germany and France. The credit ratings company also said that AAA statuses in those countries are safe for now, but economic recovery remains "fragile" in countries where governments had to step in. Moody's concern is how the government will exit out of their huge financial programs and big deficits when their economies are so weak. They also commented on the fact that in Great Britain and the U.S. debt loads are very large and if the countries were to see a drop in their "AAA" rating, that would mean it would be more expensive for the government to borrow money. Moody's Sovereign Risk Group senior vice president Arnaud Mares said in a statement today, "This exposes governments to substantial execution risk in the implementation of their exit strategies, which could yet make their credit more vulnerable." Between Moody's Investors Service report today and China's annual policy meeting ending without ideas on how to help increase consumer spending. There are major concerns that by China trying to slow its economic growth and curb inflation, in the long run it is going to hurt a global recovery. Investors tried to helped stocks recover losses from the morning. Analysts expect trading to be volatile this week after the rallies of the past couple weeks, trading volume remained light today. Commodity prices were mixed; gold rose $3.60 to $1,105.10 and crude oil fell $1.44 to $79.80.
Economic data released today:
NY Empire State Manufacturing Index:
New York Fed March Prices Received 8.64 versus 4.17 in February; New York Fed March Employment 12.35 versus 5.56 in February; New York Fed March New Orders 25.43 versus 8.78 in February; New York Fed's March Manufacturing Index 22.86 versus 24.91 in February.
TIC Net Long-Term Transactions:
China Remains Top Holder of U.S. Treasury's after Revisions; Foreigners Net Buyers $4.3B of U.S. Equities in January; Foreigners Net Sellers $24.6B of U.S. Corp Bonds in January; Foreigners Net Sellers $5.0B of U.S. Agency Debt in January; Foreigners Net Buyers $61.4B U.S. Treasury Notes, Bonds in January; Net Foreign Capital Outflow $33.4B in January; Net LT Securities Purchases $19.1B in January; Net Foreign LT Securities Purchases $0.9B in January.
Capacity Utilization Rate:
U.S. February Capacity Utilization rose 0.2-Point at 72.7%; Compared to Consensus 72.5%; U.S. January Capacity Use Revised to 72.5% from 72.6%.
Industrial Production (MoM):
U.S. January Industrial Production Unrevised at +0.9%; U.S. January Capacity Use Revised to 72.5% from 72.6%.
NAHB Housing Market Index:
U.S. NAHB: Index Gauge of Expected Sales for Next 6 Months Slip to 24; U.S. NAHB March Housing Index 15 versus 17 in February.
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) gain 17.69 points, EOD 10,642.38
NYSE (New York Stock Exchange) shed 11.89, EOD 7,350.96
National Association of Securities Dealers Automated Quotations (NASDAQ) shed 6.46 points, EOD 2,361.20
S&P 500 (SPX) gain 0.27 points, EOD 1,150.26
BEL 20 (BEL20) shed 16.48 points, EOD 2,608.80
CAC 40 (CAC40) shed 36.49 points, EOD 3,890.91
FTSE100 (UKX100) shed 31.8, EOD 5,593.85
NIKKEI 225 (NIK/O) gain 0.72 points, EOD 10,751.98
New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 1,258, declined stock prices 1,815, unchanged stock prices 116, stock prices hitting new highs 265 and stock prices hitting new lows 8. 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: CF shed 0.35, HOD 97.26, LOD 94.91, EOD 96.38; CNX shed 5.48, HOD 50.99, LOD 48.51, EOD 48.85; CME shed 0.27, HOD 314.56, LOD 309.60, EOD 314.15; MDT gain 1.87, HOD 46.7, LOD 45.05, EOD 45.81; G shed 0.30, HOD 16.13, LOD 15.79, EOD 15.95; VR gain 0.09, HOD 26.2, LOD 25.85, EOD 26.17.
National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,134, declined stock prices 1,573, unchanged stock prices 135, stock prices hitting new highs 163 and stock prices hitting new lows 8. 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: BIDU gain 26.60, HOD 628.50, LOD 563.20, EOD 576.84; AMLN gain 3.24, HOD 23.93, LOD 21.48, EOD 23.50; RIMM gain 0.20, HOD 76.95, LOD 74.85, EOD 75.54; OSIP gain 0.34, HOD 58.64, LOD 57.79, EOD 58.02; GOOG shed 16.36, HOD 569.45, LOD 556.00, EOD 563.18.
Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 226, declined stock prices 276, unchanged stock prices 31, stock prices hitting new highs 18 and stock prices hitting new lows 2.
Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Mar 10: EOD 1145.75; Change -0.75
E-mini NASDAQ-100 (NQ) Mar 10: EOD 1,917.25; Change -7.00
E-mini DOW $5 (YM) Mar 10: EOD 10,575; Change 2
E-mini S&P MidCap 400 (MF) Mar 10: EOD 779.40; Change -3.40
Nikkei 225 (Yen) Mar 10: EOD 10,680; Change -60
World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7315 U.S. Dollars 1.3659
Japanese Yen 90.4900 to U.S. Dollars 0.0111
British Pound 0.6645 to U.S. Dollars 1.5040
Canadian Dollar 1.0200 to U.S. Dollars 0.9825
COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (April 10) shed $1.44, EOD $79.80 per barrel ($US per barrel)
Heating Oil (April 10) shed $0.03, EOD $2.06 a gallon ($US per gallon)
Natural Gas (April 10) shed $0.09, EOD $4.39 per million BTU ($US per mmbtu.)
Unleaded Gas (April 10) shed $0.03, EOD $2.22 gallon ($US per gallon)
Metals Markets - Comex:
Gold (April 10) gain $3.60, EOD $1,105.10 ($US per Troy ounce)
Silver (April 10) gain $0.05, EOD $17.08 ($US per Troy ounce)
Platinum (April 10) gain $7.40, EOD $1,613.90 ($US per Troy ounce)
Copper (April 10) shed $0.06, EOD $3.31 ($US per pound)
Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (April 10) shed $0.85, EOD $71.80
Pork Bellies (April 10) unchanged, EOD $91.00
Live Cattle (Aril 10) gain $0.55, EOD $95.65
Feeder Cattle (April 10) shed $0.10, EOD $102.90
Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (May 10) shed $1.00 , EOD $363.25
Soybeans (May 10) gain $4.50, EOD $930.00
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