Financials Fueled By…
Financials moved higher across the
board as the index of leading economic indicators was up .5 to 109.7 in
November, which was better than expected. The 30-Year T-Bond
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gained 0^30. The 10-Year T-Note
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0-180 and the
5-Year T-Note
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A more important factor for the bounce
was the President’s announcement that Congress has reached a compromise on the
stimulus package — which was later found not to be true according to Senator
Daschle. The repercussions of this statement caused the broader markets to diverge
late in the afternoon.
Grains fared pretty well as there was
talk of
freezing weather heading for the wheat fields in China. Wheat
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tacked on 7-2 based on the news, to close at 289-0. Corn
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CH2 |
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0-2. Oats
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OH2 |
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climbed 3-0 to close at 435-0.
Meats were down across the board, with
Live Cattle
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.67, and Pork bellies
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Feeder Cattle
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The broader market index futures
closed mixed on Wednesday. The S&P 500 futures
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SPH2 |
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7.50 points. The Dow Industrial futures
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DJH2 |
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the Nasdaq 100
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NDH2 |
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The greenback was the only currency
trading higher in the session Wednesday, as the US Dollar Index
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moved up another .40. The British Pound
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BPH2 |
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Yen
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SFH2 |
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which closed at .6103, down .0017, and the Australian Dollar
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ADH2 |
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fell .0044.
Precious metals got hit today, with
Gold
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GCG2 |
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SIH2 |
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off the shelf, down 11.2 at 430.8, and High Grade Copper
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which was up yesterday, slid 1.05 due to the Housing Starts numbers. Platinum
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was off by 4.5.
Softs ended the session mixed, with
Cotton #2
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CTH2 |
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higher .25, as well as Coffee
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KCH2 |
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46.90.
Cocoa
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CCH2 |
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a boost yesterday from the Housing Starts numbers.
Among the energies, Crude Oil
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CLF2 |
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HUF2 |
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.0077,
while Heating Oil
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