And The Winners Are…
In the broader index markets,
there was no
economic or earnings news that would sway the markets one way or the other at
the beginning of trade.
Then the Indexes
came under selling pressure with US Attorney General John Ashcroft’s press
conference announcing the arrest last month of a U.S. citizen
who had planned to explode a “dirty” bomb. After an initial sell off,
the markets regained some ground. The fear that gripped traders was that
terrorists had been planning such an attack, but traders found it reassuring that the plot
had been discovered.
The June Nasdaq 100 futures
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were all over the place for most of the session. Towards the end of the trading
day, the Nasdaq broke below its intraday support at 1150. The NDM2 ended lower
at 1137, down .50. June S&P futures
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SPM2 |
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fared
better, gaining 3.79 to close at 1032.09. June Dow
futures
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DJM2 |
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According to the Wall Street Journal,
the USDA crop progress report is expected to show that 84% to 88% of the crop
has been planted. Grain and soybean
futures prices were mixed today at the Chicago Board of Trade. If this report is
true, the wheat and bean market will view this as a bearish crop report. July soybeans
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SN2 |
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1.38% to close at $5.00 1/2 a bushel. Wheat for July delivery
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WN2 |
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or 1.18% to $2.78 1/42 cents. July corn
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CN2 |
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3/4 a bushel.
Several variables weighed on August gold
futures
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GCQ2 |
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ounce, a 5.90 or 1.81% loss. A more stable US dollar
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DXM2 |
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against other major currencies, as well as steadier equities markets, lessened
the appeal for further price increases. Another piece of news that influences
gold, the easing of tensions between Pakistan and India, simultaneously served
to limit any potential safe-haven demand. July silver
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SIN2 |
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also lower dropping 6.79 or 1.37% to 4.912. July copper
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HGN2 |
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today rising to 78.05 a pound up .05 or .06%.
Crude oil for July
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CLN2 |
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to slide today, dropping .46 or 1.86% to end at $24.28. July heating oil
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HON2 |
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unleaded gasoline
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HUN2 |
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July Natural Gas
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NGN2 |
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