Jolt of Java
December coffee [KCZ9>KCZ9] jumped 4.55 to close at 116.55 today, trying to make another run at resistance at 120 (see Figure 1). Cocoa and sugar didn’t go along for the ride, with both posting moderate losses.
Nasdaq 100 Leads Stock Indexes Again
With bonds and currencies closed because of Veterans Day, the only real financial futures action is in the stock indexes, which are currently up on the day, led once again by the Nasdaq 100.
Financials Mixed On PPI, Gold Takes Another Shot At the Upside
December T-bonds [USZ9>USZ9] staged something of a comeback in today’s session. Weak in early trading on the higher-than-expected Producer Price Index (PPI) number, the contract rallied back to close down only 7/32 at 114 06/32 (but off the high of 114 22/32).
Little Action On The Futures Front
It’s a relatively slow day so far, with the major economic report of the morning failing to ignite much in the way of market fireworks.
Oil Jumps As Global Glut Ends
Crude oil is trading just below a 20-day high following a report from the International Energy Agency that said global inventories are falling and demand is on the upswing.
Energies Jump After IEA Says Global Oil Glut Has Ended
Crude oil and its products shot higher on word from the International Energy Agency (IEA) that global oil inventories are falling and demand is on the upswing.
Gas Implodes
Natural gas [NGZ9>NGZ9] gapped down and traded straight through a double bottom, falling to a three-month low. The December contract lost.219 to 2.665, or 7.6%.
Natural Gas Implodes
Natural gas is collapsing to a two-month low and is down 7.5%.
Favorable October Jobs Report Fuels Bonds And Stock Index Futures
The Labor Department reported that wages and jobs grew at a slower-than-expected pace and that sent T-bonds and stock index futures rallying.
Lower Wages Drive Bonds And Stock Index Futures Higher
The Labor Department reported that wages and jobs grew at a slower-than-expected pace and T-bonds and stock index futures are rallying on the news.
Steady Rates Sink Swiss Franc
Swiss Central bankers held interest rates steady, failing to follow their European counter-parts in raising short-term rates and that sent Swiss francs [SFZ9>SFZ9] .0100 lower to a three-month low of .6441.
Bonds Rise On View Fed Won’t Hike Rates
T-bonds are trading at a 20-day high on the view that the Fed will not raise rates for a third time this year.