• Central Bank
    • By: BARRY O

      Daily Market Commentary for October 8, 2008 from Millennium-Traders.Com

      Global Rate Cut coordinated by Central Banks around the world by European Central Bank, the Bank of England, the Swedish Riksbank, the Bank of Canada and the Swiss National Bank joined in cutting their rates with the Federal Reserve by half a percentage point early this morning - Federal Funds Rate cut by 50 basis points to 1.50 percent and discount rate cut by a half a percentage point to 1.75 percent. (read more) http://www.millennium-traders.com/news/newscommentary.aspx

      Economic data released today:

      Pending Home Sales: National Association of Realtors released data, U.S. August Pending Home Sales rose 8.8% from August 2007; U.S. Pending Home Sales Index rose 7.4% during August.

      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 session on the world market as well as the emerging markets including the stock market closing bell price: DOW (Dow Jones Industrial Average) triple digit loss of 194.26 points on the day to end the trading session at 9,252.85 NYSE (New York Stock Exchange) loss of 82.05 points to end the trading session at 6,306.33 National Association of Securities Dealers Automated Quotations (NASDAQ) loss of 9.01 points to end the trading session at 1,744.01 S&P 500 loss of 11.63 points to end the trading session at 984.60 FTSE All-World excluding U.S. loss of 5.12 points to end the trading session at 163.87 FTSE RAFI 1000 loss of 24.37 points to end the trading session at 3,909.59 BEL 20 (BEL20) triple digit loss of 184.74 points to end the trading session at 2,323.95 CAC 40 (CAC40) triple digit loss of 235.33 points to end the trading session at 3,496.89 FTSE100 (UKX100) triple digit loss of 238.53 points to end the trading session at 4,366.69 NIKKEI 225 (NIK/O) triple digit loss of 952.58 points to end the trading session at 9,203.32

      New York Stock Exchange (NYSE) stock market indicators for the day: Advanced stock prices 752 declined stock prices 2,514; unchanged stock prices 41; stock prices hitting new highs 3 and stock prices hitting new lows 1. 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: Yum! Brands Incorporated (NYSE: YUM) stock price gained 0.30 points on the trading session, high on the trading session $29.31, low on the trading session $26.81 with a closing stock price at $27.80; Alcoa Incorporated (NYSE: AA) stock price shed 2.12 points on the trading session, high on the trading session $15.49, low on the trading session $13.40 with a closing stock price at $14.59; MetLife Incorporated (NYSE: MET) stock price shed 9.87 points on the trading session, high on the trading session $33.86, low on the trading session $25.76 with a closing stock price at $27.00; Enbridge Energy Partners L.P. (NYSE: EEP) stock price shed 2.30 points on the trading session, high on the trading session $32.74, low on the trading session $24.35 with a closing stock price at $30.44; Ultrashort Financial Corporation (NYSE: SKF) stock price gained 9.57 points on the trading session, high on the trading session $155.27, low on the trading session $128.78 with a closing stock price at $149.84; Potash Corporation Saskatchewan (NYSE: POT) stock price gained 11.74 points on the trading session, high on the trading session $103.24, low on the trading session $79.94 with a closing stock price at $98.60; Rio Tinto plc (NYSE: RTP) stock price shed 4.18 points on the trading session, high on the trading session $203.78, low on the trading session $174.97 with a closing stock price at $188.25; Devon Energy Corporation (NYSE: DVN) stock price shed 0.09 points on the trading session, high on the trading session $76.56, low on the trading session $67.05 with a closing stock price at $72.45; Diamond Offshore Drilling Incorporated (NYSE: DO) stock price shed 3.99 points on the trading session, high on the trading session $83.00, low on the trading session $71.66 with a closing stock price at $77.00; Bunge Limited (NYSE: BG) stock price shed 0.54 points on the trading session, high on the trading session $47.32, low on the trading session $39.01 with a closing stock price at $43.28; Walter Industries Incorporated (NYSE: WLT) stock price gained 3.48 points on the trading session, high on the trading session $38.98, low on the trading session $30.50 with a closing stock price at $36.26; CF Industries Holdings Incorporated (NYSE: CF) stock price gained 5.92 points on the trading session, high on the trading session $61.55, low on the trading session $47.39 with a closing stock price at $57.31; ProShares UltraShort MidCap400 (NYSE: MZZ) stock price shed 1.50 points on the trading session, high on the trading session $102.00, low on the trading session $90.36 with a closing stock price at $96.50; CME Group Incorporated (NYSE: CME) stock price gained 9.50 points on the trading session, high on the trading session $424.00, low on the trading session $387.57 with a closing stock price at $405.50.