Expectations Of Economic Recovery
Index futures were slightly higher on optimistic
expectations of an economic recovery, but slid lower as the session progressed.
Dow futures
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DJZ1 |
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PowerRating) finished unchanged at 10,110, with the Nasdaq
100 futures
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NDZ1 |
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PowerRating) gaining 1 point to 1722. The December S&P futures
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PowerRating) were down 0.70 at 1168 heading into the Globex overnight trading.
T-bonds
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Wednesday’s beating, losing 1 ’03 to 102 ’20, and the 10-year notes
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Cattle were distributed, as live cattle
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LCG2 |
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PowerRating) lost 0.575 to 69.30 at closing, while feeder cattle
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supply. Hog futures began a turn around near mid-session and finished in the
green, with December lean hogs
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LHZ1 |
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PowerRating) up 0.75 to 47.775 and pork
bellies
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PowerRating) rallying 1.10 to close at 75.175.
Currency futures were mixed, as the dollar index
futures
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numbers, which lessened by half of what was originally prognosticated. This
boosted the British pound
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PowerRating), which rose 0.0128 to 1.4274, and
the euro FX futures
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ECZ1 |
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PowerRating), which gained 0.0085 to 0.8950. Swiss
francs
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PowerRating) also had a net gain on the day, finishing at 0.6070, up
0.0055. The Japanese yen
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PowerRating) continues to slide, losing 0.000034
to 0.00802, and the Canadian dollar
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PowerRating) closed well, but was
still negative, down 0.0003 at 0.6358.
In the softs, sugar
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SBH2 |
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PowerRating) continues to ride
a strong trend higher, gaining 0.05 to 7.84 in the session. March cocoa
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PowerRating) triggered out of its pullback from high, but closed weakly, ending
the day down 1 point at 1278. Coffee
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KCH2 |
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PowerRating) drifted lower after
attempting a mid-day rally, settling at 45.80, down 0.20, while January
orange juice
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PowerRating) fell 3.00 to 91.15, breaking down from a
low-volatility triangle. Cotton
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CTH2 |
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PowerRating) shot out of a pullback, aided
by reports of strong exports, closing up 1.12 to 37.90.
Grains were split in mostly thin and sluggish trading,
with soybean oil
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BOZ1 |
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PowerRating) being the only contract to close positive,
up 0.04 at 16.37. Corn
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CZ1 |
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PowerRating) lost 4.14 to 205 1/2, as did wheat
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PowerRating), which finished at 273. Soybeans
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SF2 |
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PowerRating) were down 1 point at
441 1/2, and soy meal
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SMZ1 |
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PowerRating) fell 2.7 points to 151.20.
Gold
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PowerRating) finished higher, but did not
receive the amount of volatility it normally gets when the dollar is
distributed, rising 0.05 to 274.20. Copper
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PowerRating) is still trading
in a pullback from its high, falling 0.0065 to 0.6875, and silver
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PowerRating) finished 0.041 higher at 4.217.
Natural gas
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NGF2 |
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PowerRating) was the lone energy to
close up, gaining 0.074 to 2.565. Crude oil
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CLF2 |
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PowerRating) was down on light
trading, losing 0.95 to 18.54, with heating oil
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PowerRating) dropping
0.0248 to 0.5066. Unleaded gasoline
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HUF2 |
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PowerRating) finished the group,
falling 0.0255 to 0.5175.