Cocoa Spikes And Dips On West African Political Instability
Cocoa surged in early trading as a slurry of buy orders hit the pit in reaction to a Christmas coup in the world’s major producing nation, the Ivory Coast. Prices shot up as many as 66 in the first half-hour of trading but most of the gains have been erased as the March contract is up just 12.
T-bonds started lower and traded to within ticks of contract lows for a third straight session. But in very thin trade, buyers are getting the upper hand and have managed to move the market up 9/32 to 91 7/32.
Nasdaq 100 futures are taking the morning off after rising 13% over the past seven sessions. S&P futures are also selling off but have found support at their old 20-day (and all-time) high at the 1470.00 level.
Natural gas, from the Implosion-5 List,
is falling for a fifth straight day on forecasts for warm weather this week in the Mid West.
Here are the highlights around noon Eastern time:
Stock Index and Bond Futures |
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Currencies |
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Energies |
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Metals |
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Grains |
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Meats |
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Softs and Fibers |
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