Stock Indexes Roar After Rate Decision
A late-rally that began yesterday carried over into trading today, boosting stock indexes to solid gains. NASDAQ 100 futures [NDZ9>NDZ9] posted their fourth highest close ever, gaining 47.00 to 2555.50. December Dow futures [DJZ9>DJZ9] rose 170.0 to 10,655.0 and S&P futures [SPZ9>SPZ9] climbed 19.00 to 1335.20.
Reversing off contract lows, December T-bonds [USZ9>USZ9] made good on their Turtle Soup Plus One Buy set up above 112 16/32 (the old 20-day low), rallying as many as 16 ticks before settling 5/32 higher at 112 19/32.
Higher equity prices boosted dollar index futures [DXZ9>DXZ9]: the December contract rose .52 to 98.20. The Japanese yen [JYZ9>JYZ9] sank .0094 to .9395, dropping in cross trade against the Euro on speculation the European Central Bank (ECB) will raise interest rates tomorrow. Swiss francs [SFZ9>SFZ9] fell .0045 and
Canadian dollars [CDZ9>CDZ9], from the Pullback Off Highs List, rose .0017 and are shaping into a triangle.
In the energies, oil contracts fell for a third day. November crude oil [CLX9>CLX9] declined .18 to 23.27 and unleaded gas [HUX9>HUX9] hit a 10-day low of .6529. Natural gas [NGX9>NGX9] gained .015 to 2.601.
December gold [GCZ9>GCZ9] gapped nearly 10 lower, but rallied the entire session, filling all of the opening gap to finish unchanged at 326.0.
In the grains, soybean contracts from the 10/100 Low Volatility List staged a moderate rally: November soybeans [SX9>SX9] climbed 5 1/2 to 489 1/4 and December soybean oil [BOZ9>BOZ9] rose .39 to 17.16.
December lean hogs [LHZ9>LHZ9] fell .725 to 44.700 and cattle contracts continued retreating from record highs set two days ago.
In the softs and fibers, December cocoa [CCZ9>CCZ9] was the most active contract, falling 27 to 948. Coffee [KCZ9>KCZ9] gave a reversal signal, hit a 19-day high, then sold off to end up just .45 at 85.50.