Wall Street Reform Bill

[AlmoSl]

Daily Market Commentary for July 21, 2010

Wall Street Reform Bill

Today, President Obama signed the Wall Street reform bill into law. (Read more at Millennium-Traders.Com (http://www.millennium-traders.com/news/marketcommentaryjuly2110.aspx))

[Angewygom]

Economic data released today:

MBA Mortgage Applications:
U.S. MBA Refinance Index rose 8.6% at 4,161.9; Last Week 3,831.2; U.S. MBA Purchase Index rose 3.4% at 168.9; Last Week 163.3; U.S. MBA Market Index rose 7.6% at 753.5; Last Week 700.3.

Crude Oil Inventories:
U.S. Refineries Ran at 91.5% capacity; Was Seen at 90.20% capacity; U.S. Refineries Ran at 91.5% capacity versus 90.5% capacity Week Ago; U.S. Distillate Stockpiles rose 3.935 Million Barrels in Week; Was Seen Increasing by 1.6 Million Barrels; U.S. Distillate Stockpiles rose 3.935 Million Barrels at 166.575 Million Barrels; U.S. Gasoline Stockpiles rose 1.118 Million Barrels in Week; Was Seen Increasing by 0.7 Million Barrels; U.S. Gasoline Stockpiles rose 1.118 Million Barrels at 222.154 Million Barrels; U.S. Crude Oil Stockpiles rose 0.36 Million Barrels in Week; Was Seen Decreasing by 1.3 Million Barrels; U.S. Crude Oil Stockpiles rose 0.36 Million Barrels at 353.456 Million Barrels.

[ananawilk10]

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) shed 109.43 points, EOD 10,120.53
NYSE (New York Stock Exchange) shed 88.94, EOD 6,731.10
National Association of Securities Dealers Automated Quotations (NASDAQ) shed 36.53 points, EOD 2,185.96
S&P 500 (SPX) shed 13.97 points, EOD 1,069.51
BEL 20 (BEL20) gain 34.59 points, EOD 2,451.93
CAC 40 (CAC40) gain 25.9 points, EOD 3,493.92
FTSE100 (UKX100) gain 75.18 points, EOD 5,214.64
NIKKEI 225 (NIK/O) shed 21.63 points, EOD 9,278.83

[Anthonypt]

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 1,026, declined stock prices 2,066, unchanged stock prices 74, stock prices hitting new highs 145 and stock prices hitting new lows 29. 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: BP gain 0.93, HOD 36.65, LOD 35.67, EOD 36.13; BLK shed 5.93, HOD 150.99, LOD 141.01, EOD 143.43; CME shed 2.07, HOD 276.84, LOD 272.83, EOD 273.17; RIG shed 1.26, HOD 49.89, LOD 47.30, EOD 47.74; CYT gain 7.07, HOD 50.95, LOD 47.50, EOD 49.86; VMW gain 0.64, HOD 75.00, LOD 72.05, EOD 73.06.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 688, declined stock prices 1,983, unchanged stock prices 122, stock prices hitting new highs 26 and stock prices hitting new lows 55. 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: AAPL gain 2.71, HOD 265.15, LOD 254.00, EOD 254.60; CMTL shed 10.00, HOD 31.52, LOD 20.80, EOD 21.30; ISRG shed 9.99, HOD 329.94, LOD 314.00, EOD 316.10; BIDU shed 0.73, HOD 76.58, LOD 73.00, EOD 73.31; NTRS shed 2.16, HOD 50.15, LOD 46.98, EOD 47.16; GENZ gain 0.36, HOD 54.80, LOD 52.00, EOD 52.62; GILD shed 0.10, HOD 33.44, LOD 31.73, EOD 32.90.

[Antanykki]

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[admin]

The new reform bill is obviously leading to a lot of fear selling in the markets. The Advancing/Declining line of stocks in all the major indexes jumped towards the bullish side very quickly.

This is probably driven by Obama's threats not to cut down on derivative investments and raise the capital gains tax as a result of a mounting deficit.