Tuesday, May 1, 2007

Closing Market News May 1, 2007

The Dow closed up 73.23 at 13,136.14 and the Nasdaq closed up 6.44 at 2531.53. The Dow high was 13,137.76 and the low was 13,041.54 for a 96.22 point range.

Total volume on the NYSE was above average trading 1.77 billion shares. UP/down volume was 1.24 to 1 positive, Nasdaq up/down volume was 1.06 to 1 negative.

June E-mini S&P futures closed up 4.25 at 1492.75 and the Nasdaq 100 closed up 6.50 at 1885.75. June E-mini S&P total volume was above average trading 1.23 million contracts. June 30 yr. T-Bond futures closed unchanged at 111-24.

June Oil futures closed down 1.31 at 64.40 and June Natural Gas futures closed down .14 at 7.72.

June Gold futures closed down 6.20 at 677.30 and the July Silver futures closed down 0.205 at 13.370.

Grains were all higher with July Wheat up 5 ¼ cents closing at 501 ¼, July Beans were 13 ¼ higher closing at 7.56 ¼, and July Corn closed up 10 cents at 3.77 ½.

June Live Cattle futures closed down 0.250 at 93.875 and August Feeder Cattle closed down .25 at 112.60. June Lean Hogs closed up 0.425 at 75.525.

“Do not do unto others as you expect they should do unto you. Their tastes may not be the same.”

Author: George Bernard Shaw

AT I SEE IT: The market traded a little lower for the first couple hours, but support held and the Dow rallied back up to new all time highs. The S&P and Nasdaq are lagging behind, so we’ll see if this move is for real tomorrow, or if we continue to trade lower. Day-trading was very good today in the S&P, Nasdaq, Oil, and the Grains.

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