Five Markets Rallying Back To Highs
The June S&P 500 futures gave up
all of the gains it had built up from this past Wednesday’s rally. The S&Ps
have now dropped off seven of the last eight weeks. The June S&P 500 futures
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closed down 19.90 to 1054.10. Mark Boucher has written a very informative piece
about the futures and some of the other commodities and how they relate to the
overall economy and an economic recovery.
Click Here for Boucher On The Big Picture. This is a must read.
As we have witnessed in the past, a down U.S.
equity market will give way to rising foreign currencies. Today was no
exception. In the
currency market, several foreign currencies had been pulling back from their
highs and today had positive days to the upside. The
June British pound
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chart. Today the Canadian dollar rallied .30 to end at 64.14.
The Japanese yen for June
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at .9124, up .00490. The June dollar
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session at 114.18.
Crude oil and products futures at the NYMEX were
slightly higher today. Crude closed at the highest levels in eight months. The June
crude oil contract
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chart, gaining .31 cents to $27.99 cents a barrel
in late-afternoon trading at the New York Mercantile Exchange. June gasoline
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Corn futures rose on the Chicago Board of Trade (CBOT) on increasing concerns that
there will be delays on planting in the Midwest and a U.S. Department of
Agriculture announcement of a sale of 130,000 metric tons of corn to Mexico.
July corn
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Wheat for July delivery
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soybeans
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The shaky equity market and possible trouble in
the Middle East had Comex June gold futures
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weaker dollar against other currencies. June gold rose 1.50, or .48%, to $311.30
an ounce. July silver
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July copper
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