Fuel Behind The Financials Was Due To…
The majority of the currencies ended
lower today. The US dollar futures
(
DXH2 |
Quote |
Chart |
News |
PowerRating) moved higher .08 in the session.
The British pound futures
(
BPH2 |
Quote |
Chart |
News |
PowerRating) gave back some of yesterday’s gains, losing
.0028. The yen
(
JYH2 |
Quote |
Chart |
News |
PowerRating) slid .0018.
Energies moved predominantly higher today ahead of Triple Witching
Friday. Crude oil futures
(
CLF2 |
Quote |
Chart |
News |
PowerRating)
moved up .14. Unleaded gasoline
(
HUF2 |
Quote |
Chart |
News |
PowerRating) climbed .0049, and heating
oil
futures
(
HOF2 |
Quote |
Chart |
News |
PowerRating) tacked on .0088. On the downside was natural gas
futures
(
NGF2 |
Quote |
Chart |
News |
PowerRating), which fell .029.
Financials moved higher after
yesterday’s very volatile session, as traders were eyeing Washington to see if
any agreement was reached on the stimulus package. According to analysts,
getting a stimulus package through by the holidays is 50-50. The 30-Year T-Bond futures
(
USH2 |
Quote |
Chart |
News |
PowerRating) moved
up a full handle plus, closing higher 1-07. The 10-Year T-Note futures
(
TYH2 |
Quote |
Chart |
News |
PowerRating) scaled higher 0-250.
Grains over the last couple of trading
sessions have experienced quiet light trading and lost ground today going into the close as
volatility was high. Across the board grains were lower. Wheat
(
WH2 |
Quote |
Chart |
News |
PowerRating) closed
off 0-6.
March corn
(
CH2 |
Quote |
Chart |
News |
PowerRating) futures got
slammed, falling 1-4 after opening higher in the session as the contract failed
to clear overhead resistance, causing corn to hit a 13-session low. The push down
spilled over into the beans and meal arena. Soybeans
(
SF2 |
Quote |
Chart |
News |
PowerRating) lost
4-6 and soymeal
(
SMF2 |
Quote |
Chart |
News |
PowerRating) slid 3.1. Oats
(
OH2 |
Quote |
Chart |
News |
PowerRating) were the biggest loser of the
day, falling more than 5-4.
The broad market indices continued
with their move higher, as the S&P 500 futures
(
SPH2 |
Quote |
Chart |
News |
PowerRating) closed up
7.50.
The Dow Industrial futures
(
DJH2 |
Quote |
Chart |
News |
PowerRating) tacked on 114 points, while Nasdaq 100
futures
(
NDH2 |
Quote |
Chart |
News |
PowerRating) gained 19 points.
Noteworthy in the meats was live
cattle
(
LCG2 |
Quote |
Chart |
News |
PowerRating), which gained 1.47, and feeder cattle
(
FCF2 |
Quote |
Chart |
News |
PowerRating), which climbed
1.49.
Among the movers in precious metals, gold
futures
(
GCG2 |
Quote |
Chart |
News |
PowerRating) had a stellar session gaining 2.6 in the session.
Silver futures
(
SIH2 |
Quote |
Chart |
News |
PowerRating) moved higher 5.5. High grade copper
(
HGF2 |
Quote |
Chart |
News |
PowerRating) moved
up .80, while platinum
(
PLF2 |
Quote |
Chart |
News |
PowerRating) lost 4.5 in the session.
Turning our attention to the softs, orange
juice
(
OJF2 |
Quote |
Chart |
News |
PowerRating) moved higher 1.10, and coffee
(
KCH2 |
Quote |
Chart |
News |
PowerRating) slid .25.
Sugar #11
(
SBH2 |
Quote |
Chart |
News |
PowerRating) fell .34
after massive amounts of sell-stops were hit in big volume as locals were
selling.
Cocoa
(
CCH2 |
Quote |
Chart |
News |
PowerRating) lost 22.