For The Fifth Week In A Row…
The S&P 500
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(938) before trying to build a setup and give quick-and-nimble traders a profit
before going into the weekend, but time ran out before a setup was triggered. Citigroup
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and Intel
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The good news however is than even with today’s drop, the
S&P 500
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gain. This is the longest winning streak in two years. For the week, the S&P 500
has climbed 2.1%. The Sept S&P 500 futures
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lower today at 941, down 20.10 or 2.09%.
The Nasdaq 100, which is greatly influenced by
the Semiconductor sector
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after the semis were downgraded at the opening. The Nasdaq 100 futures
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NDU2 closed at 1014.50, down 37.50 or
3.56%.
At the Chicago Board of Trade (CBOT), some of the
grains are rallying from a pullback from the highs. Corn for December
delivery
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soybeans closed at the 20-day moving average $5.40 a bushel up 2 1/4 cents.
In the energy markets, October crude oil
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a barrel price earlier this week due to fears of a US invasion of Iraq. Talk of an invasion is cooling and this is bringing the October crude
prices lower. The decline in crude prices is putting pressure on the
Amex Oil Index
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Oct. heating oil
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Oct unleaded gasoline
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gallon and Oct. natural gas
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At the COMEX, precious metals were mixed, with
December gold
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silver
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1.16% to $4.448 an ounce. September copper
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positive territory to close at 68.54 a pound, up .10 on the session.