Here’s What Pushed Oil Higher Today
US stocks and Treasuries both
finished lower today–probably out of confusion from the outcome of the Fed
meeting than anything else.
Equity
Equities spent most of
the day in positive territory but ultimately pulled back after the Fed cut by 25
basis points. Cyclical stocks were led the declines.
The Nasdaq future
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at 1190.50. The S&P 500 contract
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and the Dow
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Fixed Income
U.S. Treasuries were were lower after the market interpreted the
Fed statement as less accommodative than it would have liked.
The 10 year futures contract
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was down 1-14 at 118-11; and the five year note was down 205 at 115-220.
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Metals
July gold
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to close at 349.60 as a result of dollar a weaker US dollar. Silver
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down 2.0 at 4.545. Copper was down by .90 at 75.85
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down by .0010 to close at .6500.
Energy
July crude
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inventories were unexpectedly higher. as such oil was up by 1.07 to close at 29.95,
and natural gas, was up by .066 at 5.752
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Currencies
The USD index
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finished at 94.10.