2-Year Yields Hit Highest Level Since 2001
Energy futures staged an intraday
reversal, initially moving higher after the weekly Petroleum Status Report
before reversing and selling off for the final two hours. The report
showed that both crude oil inventories and gasoline inventories rose last week (full
story). ConocoPhillips
(
COP |
Quote |
Chart |
News |
PowerRating) announced an 89% surge in profits due to
high oil and gas prices (more).
Exxon Mobil
(
XOM |
Quote |
Chart |
News |
PowerRating), the world’s largest publicly traded oil company, reports
earnings tomorrow.
The US Dollar Index closed modestly higher boosted by the
continued selloff in treasuries. Yields on the 2-yr T-Note hit the highest level
in 4-years today, while yields on the 10-yr T-Note hit the highest level since
March.
The USDA announced today what traders knew for some time; that
the new Iraqi government bought 1-million tons of US Wheat. Orange Juice and
Coffee pulled back as fears of damage caused by hurricane Wilma began to weaken.
TradingMarkets Commodities Watch List
| Commodity (Symbol) |
Price | Price Change | % Change |
|
Energies |
|||
| Crude Oil (CL) | 60.66 | -1.78 |
-2.85 |
| Heating Oil (HO) | 190.00 | -3.26 |
-1.69 |
| Unleaded Gas (HU) | 162.00 | -7.97 |
-4.69 |
| Natural Gas (NG) | 14.05 | -0.41 |
-2.85 |
|
Metals |
|||
| Gold (GC) | 473.00 | -1.70 |
-0.36 |
| Silver (SI) | 786.30 | +3.80 |
+0.49 |
| Copper (HG) | 181.80 | -0.65 |
-0.36 |
|
Grains |
|||
|
Corn (C) |
198.25 | -0.75 |
-0.38 |
| Wheat (W) | 323.50 | -2.00 |
-0.61 |
| Soybeans (S) | 583.50 | -5.25 |
-0.89 |
|
Softs |
|||
| Sugar (SB) | 11.78 | -0.04 |
-0.34 |
| Coffee (KC) | 101.70 | -2.00 |
-1.93 |
| Cocoa (CC) | 1419.00 | +16.00 |
+1.14 |
| Frozen Orange Juice (JO) | 115.70 | -2.15 |
-1.82 |
| Cotton (CT) | 54.76 | -0.47 |
-0.85 |
| Lumber (LB) | 294.40 | +1.60 |
+0.55 |
|
Livestock |
|||
| Lean Hogs (LH) | 60.08 | -1.12 |
-1.84 |
| Live Cattle (LC) | 90.52 | -0.17 |
-0.19 |
Economic News
MBA Purchase Applications:
Purchase Index – Actual 466.4
EIA Petroleum Status Report:
Crude Oil Inventories – Actual +4.4 Mln Barrels
Gasoline Inventories – Actual +200,000 Barrels
Ashton Dorkins