Crude Oil Prices by anamaulida

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									Daily Market Commentary for June 6, 2008 from Millennium-Traders.Com
Trading volume was heavy amidst the sell off and with the rapid gains on
Crude, we saw curbs setting in on the Crude Oil Futures market. Adding
fuel to the pain, Crude Oil surged on the day with a gain of almost
eleven points to hit an all time new record high of more than $138 a
barrel. (read more) http://www.millennium-
traders.com/news/newscommentary.aspx


  At the closing bell on the Stock Exchange, here is how the major world
indices and major U.S. indices ended the session on the U.S. Markets:
DOW (Dow Jones Industrial Average) triple digit loss of 394.64 points on
the day to end the session at 12,209.81 NYSE (New York Stock Exchange)
triple digit loss of 255.98 points to end the session at 9,152.51 NASDAQ
loss of 75.38 points for a close at 2,474.56 S&P 500 loss of 43.37
points for a close at 1,360.68 FTSE All-World ex-U.S. loss of 3.41
points to close at 248.58 FTSE RAFI 1000 triple digit loss of 182.12
points for a close at 5,409.74 BEL 20 loss of 82.2 points to close at
3,672.84 CAC 40 triple digit loss of 111.74 points to close at 4,795.32
FTSE100 loss of 88.5 points to close at 5,906.8 NIKKEI 225 triple digit
gain of 148.3 points to close at 14,489.4      News on the New York Stock
Exchange (NYSE) today: advanced stocks 576; declined stocks 2,595;
unchanged stocks 70; stocks hitting new highs 129; stocks hitting new
lows 118. Daily Trading Range and end of day trading results for volatile
stocks on the NYSE traded by active Day Traders today: Oil Service HOLDRs
(NYSE: OIH) shed 2.84 points on the trading day, high on the trading day
$221.05, low on the trading day $211.71 for a closing price at $212.02;
Goldman Sachs Group Incorporated (NYSE: GS) shed 7.16 points on the
trading day, high on the trading day $175.07, low on the trading day
$169.4 for a closing price at $169.44; Patriot Coal Corporation (NYSE:
PCX) gained 0.69 points on the trading day, high on the trading day
$143.53, low on the trading day $135.46 for a closing price at $135.46;
Rio Tinto plc (NYSE: RTP) shed 7.39 points on the trading day, high on
the trading day $481.23, low on the trading day $465.04 for a closing
price at $467.78; Valero Energy Corporation (NYSE: VLO) shed 3.31 points
on the trading day, high on the trading day $49.33, low on the trading
day $46.20 for a closing price at $46.33; Trina Solar Limited American
Depository (NYSE: TSL) shed 4.63 points on the trading day, high on the
trading day $48.00, low on the trading day $44.67 for a closing price at
$45.00; CF Industries Holdings Incorporated (NYSE: CF) shed 5.47 points
on the trading day, high on the trading day $153.72, low on the trading
day $146.07 for a closing price at $146.67; CME Group, Incorporated
(NYSE: CME) shed 14.94 points on the trading day, high on the trading day
$401.82 for a closing price at $387.60; Mosaic Company (NYSE: MOS) shed
1.06 points on the trading day, high on the trading day $137.97, low on
the trading day $132.81 for a closing price at $133.36.      News on the
NASDAQ today: advanced stocks 540 declined stocks 2,332; unchanged stocks
122; stocks hitting new highs 43; stocks hitting new lows 119. Trading
range and end of day trading results for volatile NASDAQ stocks traded by
active Day Traders today: Inspire Pharmaceuticals Incorporated (NasdaqGS:
ISPH) gained 1.42 points on the trading day, high on the trading day
$6.75, low on the trading day $5.07 for a closing price at $5.27; Ryanair
Holdings plc (NasdaqGS: RYAAY) shed 3.01 points on the trading day, high
on the trading day $29.81, low on the trading day $28.75 for a closing
price at $28.82; Energy Conversion Devices Incorporated (NasdaqGS: ENER)
shed 1.13 points on the trading day, high on the trading day $68.00, low
on the trading day $64.09 for a closing price at $64.17; BE Aerospace
Incorporated (NasdaqGS: BEAV) shed 2.84 points on the trading day, high
on the trading day $29.54, low on the trading day $26.00 for a closing
price at $26.98; Macrovision Solutions Corporation (NasdaqGS: MVSN)
gained 1.19 points on the trading day, high on the trading day $17.34,
low on the trading day $15.22 for a closing price at $16.30; Sanderson
Farms Incorporated (NasdaqGS: SAFM) shed 3.56 points on the trading day,
high on the trading day $48.60, low on the trading day $45.70 for a
closing price at $46.31; Sohu.com Incorporated (NasdaqGS: SOHU) shed 7.98
points on the trading day, high on the trading day $89.97, low on the
trading day $83.18 for a closing price at $83.28; Calamos Asset
Management Incorporated (NasdaqGS: CLMS) shed 3.94 points on the trading
day, high on the trading day $21.60 low on the trading day $18.94 for a
closing price at $19.06; Google Incorporated (NasdaqGS: GOOG) shed 18.30
points on the trading day, high on the trading day $580.72, low on the
trading day $567.00 for a closing price at $568.00; Focus Media Holding
Limited (NasdaqGS: FMCN) shed 5.70 points on the trading day, high on the
trading day $34.17, low on the trading day $31.00 for a closing price at
$31.09; First Solar, Incorporated (NasdaqGS: FSLR) shed 5.00 points on
the trading day, high on the trading day $262.77, low on the trading day
$251.00 for a closing price at $251.00; Baidu.com Incorporated (NasdaqGS:
BIDU) shed 16.62 points on the trading day, high on the trading day
$358.00, low on the trading day $344.55 for a closing price at $345.19.
News on the American Stock Exchange (AMEX) today: advanced stocks 412;
declined stocks 773; unchanged stocks 63; stocks hitting new highs 40;
stocks hitting new lows 21.      U.S. May Nonfarm Payrolls fell by 49K
compared to consensus of a drop by 60K; U.S. May Unemployment Rate came
in at 5.5% compared to consensus of 5.1%; U.S. May Average Hourly
Earnings increased by $0.05 to $17.94; U.S. May Manufacturing Payrolls
fell 26K; U.S. May Service-Producing Payrolls increased by 8K; U.S. May
Overall Workweek had no change at 33.7 Hours; U.S. April Payrolls Revised
to a decrease by 28K from a decrease by 20K; U.S. April Unemployment left
Unrevised at 5.0%; U.S. Jobless Rate Posts Biggest One-Month Rise since
1986.      Federal Reserve Member Randall S. Kroszner: risk premiums in
bond, stock markets still wide; data show investors still cautious;
financial companies should continue to raise capital; foreclosures still
`urgent` problem for the Fed; sees housing markets recovering `only
gradually`; credit conditions still tight; financial market strains have
eased `somewhat`.      Treasury Economic Update "Today's jobs data
reflect the slow growth of the past two quarters and the headwinds the
U.S. economy faces from energy prices, the housing correction, and credit
market strains. We expect the stimulus payments now going out to have a
meaningful impact in supporting family and business spending this year
while we work through the current challenges." Assistant Secretary
Phillip Swagel. Employment Fell in May: Job Growth: Payroll employment
fell by 49,000 in May, following a decrease of 28,000 in April. The
United States has added about 8 million jobs since August 2003.
Employment increased in 41 states and the District of Columbia over the
year ending in April. Unemployment: The unemployment rate was 5.5
percent in May, up from 5.0 percent in April. Signs of Economic Strength
Include Exports and Low Inflation: Exports: Strong global growth is
boosting U.S. exports, which grew by 8.8 percent over the past 4
quarters. Inflation: Core inflation remains contained. The consumer
price index excluding food and energy rose 2.3 percent over the 12 months
ending in April. The Economic Stimulus Package Will Provide a Temporary
Boost to Our Economy: The package will help our economy weather the
housing correction and other challenges. The Economic Stimulus Act of
2008, signed into law by President Bush has two main elements--stimulus
payments so that working Americans have more money to spend and temporary
tax incentives for businesses to invest and grow. Together, the
legislation will provide about $150 billion of stimulus for the economy
in 2008, providing a meaningful boost to the U.S. economy in 2008. Pro-
Growth Policies Will Enhance Long-Term U.S. Economic Strength: We are on
track to make significant further progress on the deficit. The FY07
budget deficit was down to 1.2 percent of GDP, from 1.9 percent in FY06.
Much of the improvement in the deficit reflects strong revenue growth,
which in turn reflects strong economic growth. Looking ahead, higher
spending on entitlement programs dominates the future fiscal situation;
we must squarely face up to the challenge of reforming these programs.
Commodities Markets Energy Sector: Light Crude (NYM) gained $10.75 on
the day to close at $138.54 a barrel ($US per bbl.); Heating Oil (NYM)
gained $0.29 on the day to close at $3.97 a gallon ($US per gal.);
Natural Gas (NYM) gained $0.13 on the day to close at $12.65 per million
BTU ($US per mmbtu.); Unleaded Gas (NYM) gained $0.21 on the day to close
at $3.55 a gallon ($US per gal.).         Metals Markets: Gold (CMX) gained
$23.50 to close at $899.00 ($US per Troy oz.); Silver (CMX) gained $0.26
to close at $17.43 ($US per Troy oz.); Platinum (NYM) gained $68.80 on
the day to close at $2,081.30 ($US per Troy oz.) and Copper (CMX) gained
$0.08 on the day to close at $3.62 ($US per lb.).         Livestock and
Meat Markets (cents per lb.): Lean Hogs (CME) shed 1.50 to close at
74.00; Pork Bellies (CME) gained 1.70 to close at 73.20; Live Cattle
(CME) shed 0.80 to close at 100.20; Feeder Cattle (CME) shed 0.58 to
close at 112.25.         Other Commodities (cents per bu.): Corn (CBT)
gained 7.00 to close the session at 677.75 and Soybeans (CBT) gained 5.50
to close session at 1,457.50.        At the close of the week, performance
results for our Moderators:        Stocks Trading Room:    Jeannie: $6,176
Barry: $10,661 Marty: $5,008 Sam: $4,952          Futures Trading Room:
JT: $5,760       Forex Trading Room:    JT: $19,700       Daily Swing
Trades:    Barry: $4,130        Weekly Swing Trades: Jeannie: $2,140
Bond action for the day: 2 year bond gained 7/32 on the day to close at
100 14/32 with a Yield of 2.39, Yield Change -0.10; 5 year bond gained
20/32 to close at 101 13/32 with a Yield of 3.19, Yield Change -0.13; 10
year bond gained 28/32 to close at 99 17/32 with a Yield of 3.93, Yield
Change -0.11; the 30 year bond gained 1 17/32 to close at 95 24/32 on the
day with a Yield of 4.63, Yield Change -0.10.        The e-mini Dow $5
ended the commodity session today at 12,230 with a loss of 388 points on
the trading session. Futures Traders should review workshops available at
the CBOT (Chicago Board of Trade). Educational in-person seminars
schedules available on the CBOT (Chicago Board of Trade) website.
Monitor scheduled economic data every market morning by viewing the Daily
Market Report from Millennium-Traders, free access to visitors on our
website.       Subscribe to our free Weekly MarketNews for a review of the
past weeks trading action plus, view upcoming economic data for the week
ahead.       Review archives of the News & Commentary plus, our FREE
Monthly Trading Lesson posted on our website.        Thanks for reading
Millennium-Traders.Com http://www.millennium-traders.com
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