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Daily Market Commentary for December 1, 2008 from Millennium-Traders.Com

There is no single action the Federal Government can take to end the financial market turmoil and the economic downturn. (read more)   
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Economic data released today:

Construction Spending:
U.S. Construction Spending fell 1.2 percent during October compared to consensus of a drop by 1.1 percent; September Construction Spending revised to unchanged percentage from a drop by 0.3 percent.

Institute for Supply Management (ISM):
U.S. ISM November Manufacturing Business Index came in at 36.2 versus October reading of 38.9; U.S. ISM November Prices Index came in at 25.5 versus October reading of 37.0; U.S. ISM November Employment Index came in at 34.2 versus October 3reading of 4.6; U.S. ISM November New Orders Index came in at 27.9 versus October reading of 32.2; U.S. ISM November Inventories came in at 39.1 versus October reading of 44.3; U.S. ISM November Production Index came in at 31.5 versus October reading of 34.1; U.S. ISM November Mfg Business Index expected to come in at 36.5.

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 679.95 points to end the trading session at 8,149.09
NYSE (New York Stock Exchange) triple digit loss of 506.64 points to end the trading session at 5,092.66
National Association of Securities Dealers Automated Quotations (NASDAQ) triple digit loss of 137.50 points to end the trading session at 1,398.07
S&P 500 (SPX) loss of 80.03 points to end the trading session at 816.21
FTSE All-World Index data excluding U.S. (AW01UK) loss of 9.25 points to end the trading session at 134.74
FTSE RAFI 1000 triple digit loss of 328.50 points to end the trading session at 3,112.01
BEL 20 (BEL20) loss of 95.67 points to end the trading session at 1,785.79
CAC 40 (CAC40) triple digit loss of 182.25 points to end the trading session at 3,080.43
FTSE100 (UKX100) triple digit loss of 222.52 points to end the trading session at 4,065.49
NIKKEI 225 (NIK/O) triple digit loss of 115.05 points to end the trading session at 8,397.22

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 354, declined stock prices 2,836; unchanged stock prices 57; stock prices hitting new highs 8 and stock prices hitting new lows 82. 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: Proshares Ultrashort QQQ (NYSE: QID) stock price gained 11.21 points on the trading session, high on the trading session $85.19, low on the trading session $77.14 with a closing stock price at $85.07; CME Group Incorporated (NYSE: CME) stock price shed 36.95 points on the trading session, high on the trading session $198.00, low on the trading session $172.64 with a closing stock price at $175.00; Monsanto Company Incorporated (NYSE: MON) stock price shed 8.05 points on the trading session, high on the trading session $76.84, low on the trading session $70.80 with a closing stock price at $71.15; Morgan Stanley Incorporated (NYSE: MS) stock price shed 3.40 points on the trading session, high on the trading session $14.23, low on the trading session $11.35 with a closing stock price at $11.35; Intercontinental Exchange Incorporated (NYSE: ICE) stock price shed 12.93 points on the trading session, high on the trading session $70.98, low on the trading session $59.27 with a closing stock price at $60.67; ProShares Ultrashort Financials (NYSE: SKF) stock price gained 39.60 points on the trading session, high on the trading session $178.72, low on the trading session $144.95 with a closing stock price at $174.65; Goldman Sachs Group Incorporated (NYSE: GS) stock price shed 13.23 points on the trading session, high on the trading session $75.80, low on the trading session $64.19 with a closing stock price at $65.76; ProShares Ultrashort Real Estate (NYSE: SRS) stock price gained 42.98 points on the trading session, high on the trading session $170.64, low on the trading session $130.51 with a closing stock price at $164.50; Potash Corporation (NYSE: POT) stock price shed 5.17 points on the trading session, high on the trading session $60.96, low on the trading session $56.47 with a closing stock price at $56.47; ProShares Ultrashort S&P 500 (NYSE: SDS) stock price gained 15.05 points on the trading session, high on the trading session $103.78, low on the trading session $93.00 with a closing stock price at $103.26.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 465; declined stock prices 2,455; unchanged stock prices 88; stock prices hitting new highs 7 and stock prices hitting new lows 139. 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: First Solar Incorporated (NasdaqGS: FSLR) stock price shed 14.54 points on the trading session, high on the trading session $118.73, low on the trading session $109.75 with a closing stock price at $110.30; Google Incorporated (NasdaqGS: GOOG) stock price shed 21.63 points on the trading session, high on the trading session $287.38, low on the trading session $265.99 with a closing stock price at $271.33; Baidu.com Incorporated (NasdaqGS: BIDU) stock price gained 19.40 points on the trading session, high on the trading session $125.00, low on the trading session $113.80 with a closing stock price at $116.48.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 198; declined stock prices 432; unchanged stock prices 62; stock prices hitting new highs 4 and stock prices hitting new lows 31.

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 814.75; Change for the trading session -1.00
E-mini NASDAQ-100 (NQ) - End of trading session price 1,091.50; Change for the trading session -3.00
E-mini DOW $5 (YM) - End of trading session price 8,144; Change for the trading session 4
E-mini S&P MidCap 400 (MF) - End of trading session price 459.50; Change for the trading session -0.20
E-mini S&P Small Cap 600 (HS) - End of trading session price 226.50; Change for the trading session -27.60

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7920 to U.S. Dollars 1.2626
Japanese Yen 93.210 to U.S. Dollars 0.0107
British Pound 0.6718 to U.S. Dollars 1.4885
Canadian Dollar 1.2437 to U.S. Dollars 0.8041
Swiss Franc 1.2039 to U.S. Dollars 0.8306

COMMODITY MARKETS:

Energy Sector - Nymex:
Light Crude (January 09) shed $5.15 on the trading session for a closing price of $49.28 barrel ($US per barrel)
Heating Oil (January 09) shed $0.11 on the trading session for a closing price of $1.62 a gallon ($US per gallon)
Natural Gas (January 09) gained $0.09 on the trading session for a closing price of $6.60 per million BTU ($US per mmbtu.)
Unleaded Gas (December 08) shed $0.10 on the trading session for a closing price of $1.11 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (February 09) shed $42.20 on the trading session for a closing price of $776.80 ($US per Troy ounce)
Silver (March 09) shed $0.85 on the trading session for a closing price of $9.38 ($US per Troy ounce)
Platinum (January 09) shed $72.40 on the trading session for a closing price of $809.90 ($US per Troy ounce)
Copper (March 09) shed $0.02 on the trading session for a closing price of $1.63 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (October 09) shed 1.68 on the trading session for a closing price of 65.35
Pork Bellies (February 09) shed 0.10 on the trading session for a closing price of 92.23
Live Cattle (February 09) shed 1.93 on the trading session for a closing price of 85.73
Feeder Cattle (January 09) shed 2.08 on the trading session for a closing price of 89.63

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (March 09) shed 17.00 on the trading session for a closing price of 348.75
Soybeans (January 09) shed 37.00 on the trading session for a closing price of 847.50

BOND MARKET:
2 year Bond closing price 100 21/32, +6/32,  Yield 0.91, Yield change -0.08
5 year Bond closing price of 101 8/32, +28/32, Yield 1.73, Yield change -0.19
10 year Bond closing price 108 20/32, + 1 19/32, Yield 2.73, Yield change -0.19
30 year Bond closing price 124 1/32, +5 15/32, Yield 3.23, Yield change -0.25

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

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