Down Day For Most Futures
T-bonds, metals, energies, grains, cattle and softs and fibers contracts all lost ground today, sending the Commodity Research Bureau Index down from recent highs.
Coffee Boils Over
Reacting to reports of dry weather and the prospect of a smaller-than-expected harvest in Brazil, December coffee [KCZ9>KCZ9] shot up a dramatic 22.80 to close at 119.35.
Down Day For Most Futures
T-bonds, metals, energies, grains, cattle and softs and fibers contracts all lost ground today, sending the Commodity Research Bureau Index down from recent highs.
Bonds and Stock Indexes Sink On Rate Concerns
T-bonds [USZ9>USZ9] closed at a life-of contract low ahead of retail sales and Producer Price figures scheduled for release this Thursday and Friday, respectively.
NASDAQ Futures Hit New High
Ignoring the threat of an October market crash, NASDAQ 100 futures [NDZ9>NDZ9] shadowed the NASDAQ composite index to close at a new record, making good on its Momentum-5 List signal. The December contract finished up 31.25 at 2611.75.
Crude Finishes The Week Down 16%
Traders sold oil futures for a fifth day as evidence mounted that OPEC is exceeding cartel production limits.
Cheating Concerns Cut Down Crude
Oil and gasoline contracts crumbled more than 3%, dropping to 20-day lows on estimates that OPEC oil output rose nearly 1% last month. The rise implies cartel members are exceeding agreed-to production quotas.
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.
Fed’s
December T-bonds [USZ9>USZ9] plunged to contract lows in response to the Federal Reserve’s decision today to leave interest rates unchanged but to adopt a “tightening bias.”
Gold Gleams Again, Energies Evaporate
Asserting its dominance of the Momentum-5 List for an eight consecutive day, December gold [GCZ9>GCZ9] gapped 10 higher on the open then rallied to close at the top of its range and at a one-year high of 318.0 for a gain of 12.7.
NAPM Nixes T-Bonds
A report from the National Association of Purchasing Management showing unexpected manufacturing strength and rising materials prices rekindled inflation worries and the perception the Fed will raise interest rates before the end of the year.
Coffee Takes A Break
After rising for a fifth consecutive session to a 10-day high, coffee [KCZ9>KCZ9] sold off today, erasing nearly all its recent gains.