Housing Market
The Senate Banking Committee listened intently today to not only the CEO's of the 'Big 3', representatives from various companies directly associated with automobile & truck dealers as well as, parts companies. Their pleas were heard loud and clear by members of the Committee. Wall Street was generally flat lined while the drilling proceeded in Washington. No word was given as to how soon the request for the multi-billion dollar loan, that increased since their last meeting with Congressional leaders, would be answered. It was confirmed today that, General Motors Corporation (NYSE: GM) may not make it into the year 2009, without a government bail out. It does appear that the auto companies will not be given blank checks without serious guidelines. A majority of day traders and investors were glued to the hearing with the 'Big 3' today, as they squirmed in their seats, practically begging for the money.
In an attempt to help the failing housing market, treasury is proposing to reduce mortgage rates and/or possibly offering tax incentives for new home buyers. In the past week, mortgage applications more than doubled. Lobbyists for financial services companies were trying to stir up support in Washington for the revised mortgage plan. Investors were basically either on the sidelines today or in the selling mood ahead of the Employment situation data coming out tomorrow. Into the end of the trading session, the selloff momentum increased. The trading session posed a very lack luster session throughout the entire trading day.
Economic data released today:
Jobless Claims:
U.S. Jobless Claims for week of November 29 fell by 21K to 509K compared to survey of an increase by 11K; U.S. Continuing Claims for week of November 22 rose by 89K to 4,087,000; U.S. Jobless Claims Revised for week of November 22 Week to 530K from 529K.
Factory Orders:
U.S. Factory Orders in October fell by 5.1 percent compared to consensus of a drop by 5.4 percent; October U.S. Factory Orders, Excluding Transportation fell by 4.2 percent; October U.S. Factory Orders, Excluding Defense fell by 4.3 percent; October U.S. Durable Goods revised to a drop by 6.9 percent from a drop by 6.2 percent; September U.S. Factory Orders revised to a drop by 3.1 percent from a drop by 2.5 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 trading session on the world markets as well as the emerging markets including the stock market closing bell price:
DOW (Dow Jones Industrial Average) triple digit loss of 215.45 points to end the trading session at 8,376.24
NYSE (New York Stock Exchange) triple digit loss of 173.29 points to end the trading session at 5,232.26
National Association of Securities Dealers Automated Quotations (NASDAQ) loss of 46.82 points to end the trading session at 1,445.56
S&P 500 (SPX) loss of 25.52 points to end the trading session at 845.22
FTSE All-World Index data excluding U.S. (AW01UK) loss of 1.99 points to end the trading session at 136.67
FTSE RAFI 1000 loss of 87.13 points to end the trading session at 3,259.80
BEL 20 (BEL20) gain of 0.31 points to end the trading session at 1,848.32
CAC 40 (CAC40) loss of 5.49 points to end the trading session at 3,161.16
FTSE100 (UKX100) loss of 6.35 points to end the trading session at 4,163.61
NIKKEI 225 (NIK/O) loss of 79.86 points to end the trading session at 7,924.24
New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 843, declined stock prices 2,322; unchanged stock prices 63; stock prices hitting new highs 7 and stock prices hitting new lows 93. 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: Apache Corporation (NYSE: APA) stock price shed 7.02 points on the trading session, high on the trading session $71.82, low on the trading session $63.95 with a closing stock price at $65.50; Jo-Ann Stores Incorporated (NYSE: JAS) stock price shed 1.07 points on the trading session, high on the trading session $13.04, low on the trading session $11.74 with a closing stock price at $12.72; Aeropostale Incorporated (NYSE: ARO) stock price gained 1.21 points on the trading session, high on the trading session $17.24, low on the trading session $14.54 with a closing stock price at $16.15; Collective Brands Incorporated (NYSE: PSS) stock price gained 1.94 points on the trading session, high on the trading session $9.81, low on the trading session $7.68 with a closing stock price at $9.20; ProShares Ultrashort Financials (NYSE: SKF) stock price gained 3.62 points on the trading session, high on the trading session $144.05, low on the trading session $124.24 with a closing stock price at $138.62; Goldman Sachs Group Incorporated (NYSE: GS) stock price shed 1.42 points on the trading session, high on the trading session $70.65, low on the trading session $66.04 with a closing stock price at $67.53; ProShares Ultrashort Real Estate (NYSE: SRS) stock price gained 2.38 points on the trading session, high on the trading session $124.63, low on the trading session $102.69 with a closing stock price at $117.80; CME Group Incorporated (NYSE: CME) stock price shed 5.49 points on the trading session, high on the trading session $191.90, low on the trading session $174.32 with a closing stock price at $176.80; Potash Corporation Saskatchewan (NYSE: POT) stock price shed 3.41 points on the trading session, high on the trading session $54.89, low on the trading session $48.99 with a closing stock price at $49.40; ProShares Ultrashort S&P 500 (NYSE: SDS) stock price gained 5.23 points on the trading session, high on the trading session $98.37, low on the trading session $89.37 with a closing stock price at $95.80.
National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 882; declined stock prices 2,005; unchanged stock prices 117; stock prices hitting new highs 4 and stock prices hitting new lows 128. 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: AeroVironment Incorporated (NasdaqGS: AVAV) stock price gained 1.16 points on the trading session, high on the trading session $34.19, low on the trading session $29.69 with a closing stock price at $32.07; Synopsys Incorporated (NasdaqGS: SNPS) stock price gained 2.09 points on the trading session, high on the trading session $18.18, low on the trading session $16.46 with a closing stock price at $17.18; Baidu.com Incorporated (NasdaqGS: BIDU) stock price gained 0.83 points on the trading session, high on the trading session $119.86, low on the trading session $111.82 with a closing stock price at $114.50.
Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 229; declined stock prices 404; unchanged stock prices 56; stock prices hitting new highs n/a and stock prices hitting new lows 35.
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 trading session price 848.25; Change for the trading session -21.00
E-mini NASDAQ-100 (NQ): End of trading session price 1,135.00; Change for the trading session -21.00
E-mini DOW $5 (YM): End of trading session price 8,412; Change for the trading session -176
E-mini S&P MidCap 400 (MF): End of trading session price 488.50; Change for the trading session -11.40
E-mini S&P Small Cap 600 (HS): End of trading session price 238.30; Change for the trading session -6.30
World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7831 to U.S. Dollars 1.2770
Japanese Yen 92.18 to U.S. Dollars 0.0108
British Pound 0.6818 to U.S. Dollars 1.4668
Canadian Dollar 1.2771 to U.S. Dollars 0.7830
Swiss Franc 1.1951 to U.S. Dollars 0.8368
COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (January 09) shed $3.12 on the trading session for a closing price of $43.67 per barrel ($US per barrel)
Heating Oil (January 09) shed $0.07 on the trading session for a closing price of $1.51 a gallon ($US per gallon)
Natural Gas (January 09) shed $0.33 on the trading session for a closing price of $6.02 per million BTU ($US per mmbtu.)
Unleaded Gas (December 08) shed $0.07 on the trading session for a closing price of $0.97 a gallon ($US per gallon)
Metals Markets - Comex:
Gold (February 09) shed $5.00 on the trading session for a closing price of $765.50 ($US per Troy ounce)
Silver (March 09) shed $0.07 on the trading session for a closing price of $9.52 ($US per Troy ounce)
Platinum (January 09) shed $6.30 on the trading session for a closing price of $798.80 ($US per Troy ounce)
Copper (March 09) shed $0.09 on the trading session for a closing price of $1.47 ($US per pound)
Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (October 09) shed 0.73 on the trading session for a closing price of 63.65
Pork Bellies (February 09) shed 0.90 on the trading session for a closing price of 91.10
Live Cattle (February 09) shed 1.00 on the trading session for a closing price of 83.08
Feeder Cattle (January 09) shed 0.25 on the trading session for a closing price of 88.10
Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (March 09) shed $14.25 on the trading session for a closing price of 334.00
Soybeans (January 09) shed 19.00 on the trading session for a closing price of 811.00
BOND MARKET:
2 year Bond closing price 100 27/32, +5/32, Yield 0.82, Yield change -0.06
5 year Bond closing price of 102 9/32, +17/32, Yield 1.52, Yield change -0.11
10 year Bond closing price 110 12/32, + 29/32, Yield 2.56, Yield change -0.10
30 year Bond closing price 127 25/32, + 2 9/32, Yield 3.06, Yield change -0.10
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