Lack Of Buyers Sends Gold Sharply Lower
December gold [GCZ9>GCZ9] tumbled 10.1 to 290.4 on evidence that Asia is cutting back on purchases. Gold showed that it was poised for a big move by registering on the Momentum-5 List.
Gold Sinks
Falling for a seventh consecutive day, gold is tanking and has dropped as much as 10.0 in trading this morning.
Bonds Blunder But Bounce Back
T-bonds [USZ9>USZ9] tumbled to a new contract low in reaction to comments by European Central Bank Chief Issing that inflation may return to Europe as the economy strengthens on the continent.
European Banker’s Inflation Comments Cut T-bonds
The head of the European Central Bank said Europe’s economy is rising and so are the risks for inflation.
Specter Of Quota Extension Boosts Energies
Oil and gasoline futures gained up to 3.7% following comments from major producing nations that they would extend current oil production limits through March 2000.
Stock Indexes And Crude Oil Rallying
Stock index futures are picking up where they left off yesterday.
British Pounds Jump To New High
December British pounds [BPZ9>BPZ9] gapped open and rose to a year-to-date high on speculation that the Bank of England will raise interest rates.
Big Blue Botches Stock Index Rally
A warning by IBM that revenue growth will slow in the next two quarters due the year 2000 calendar change spooked the equity market and has sent stock index futures sharply lower this morning, undoing yesterday’s strong rally.
Strong Microsoft Earnings Boost Stock Index Futures
Exceptional earnings by America’s largest company, Microsoft, sparked a rally in technology issues that spread to the broad market and lifted stock index futures.
CPI Lifts Stock Indexes, But Leaves Bonds At New Lows
Stock indexes finished mostly higher, rallying after Labor Department data showed Consumer Prices did not rise more than expected in September.
Coffee Gets Cold
Coffee [KCZ9>KCZ9] plunged today, erasing all of the gains made three days ago in a dramatic rise that took it up more than 24.0 to a four-month high.
Stocks Index Futures Plunge
In one of their worst weeks on record, stock index futures tumbled in response to a premonitory speech by Fed Chairman Alan Greenspan and the strongest Producer Price Index (PPI) numbers in nine years.