Across-The Board Gains, Again, For Stock Indexes
Stock index futures are rallying again, gaining as equities rise on a friendly housing construction report and strong corporate earnings by Nike and Adobe Systems. Four positive signals from the Market Bias Indicators also gave a strong hint that stock index futures might trade higher.
In an unusual show of strength, Nasdaq 100 futures, which also registered on the Momentum-5 List, gapped open 91 points to a new all-time high, although they are backing off their highs now.
After rising nearly 15% in seven days, natural gas is reversing and making good on its Turtle Soup Plus One Sell signal below 2.640, the old 20-day high.
Cotton is also bouncing back, rebounding after tumbling to record lows on Thursday. Cotton fell Thursday largely on commercial selling, following news that Fruit of the Loom is filing for bankruptcy.
Here are the highlights around noon Eastern time:
Stock Index and Bond Futures•March T-bonds [USH0>USH0]: -6/32 to 91 21/32
•March S&Ps [SPH0>SPH0]: +9.80 to 1447.00
•March Dow futures [DJH0>DJH0]: +95.0 to 11,475.0
•March NASDAQ 100 futures [NDH0>NDH0]: +42.0 to 3424.00
Currencies
•March dollar index futures [DXH0>DXH0]: +.36 to 101.60
•March Swiss francs [SFH0>SFH0]: -.0045 to .6365
Energies•January crude [CLF0>CLF0]: -.31 to 26.52
•January natural gas [NGF0>NGF0]: -.021 to 2.615
Metals•February gold [GCG0>GCG0]: +1.5 to 285.3
Grains•March wheat [WH0>WH0]: +2 1/4 to 246
Meats•February pork bellies [PBG0>PBG0]: +.100 to 78.150
Softs and Fibers•March cocoa [CCH0>CCH0]: -16 to 843
•January orange juice [OJXF0>OJF0]: +.09 to 5.84