Here’s Why Oil Spiked Higher Today
Stocks finished lower today
Treasuries bounced back from yesterday’s lows.
Equity weren’t
The Nasdaq
future
(
NDU3 |
Quote |
Chart |
News |
PowerRating) was down 67.00 to close at 1267.00. The S&P 500 contract
(
SPU3 |
Quote |
Chart |
News |
PowerRating) was up 9.70 to close at 979.60, and the Dow
(
DJU3 |
Quote |
Chart |
News |
PowerRating) was down 67
at 9140.
Fixed Income
U.S. Treasuries bounced back somewhat today after yesterday’s
sell-off, but the futures were mixed. The 10
year futures contract
(
TYU3 |
Quote |
Chart |
News |
PowerRating) was down -040 to close at 110-160; the 30 year
(
USU3 |
Quote |
Chart |
News |
PowerRating)
was up by -10 to close at 105-30; and the five year note was down 0-045 at 111-060
(
FVU3 |
Quote |
Chart |
News |
PowerRating).
Metals
August gold
(
GCQ3 |
Quote |
Chart |
News |
PowerRating) was down 7.9 at 346.10. Silver
(
SIU3 |
Quote |
Chart |
News |
PowerRating) was
down by 2.3 at 509.7. Copper was
down by .20 at 81.85
(
HGU03 |
Quote |
Chart |
News |
PowerRating), and aluminum
(
ALU03 |
Quote |
Chart |
News |
PowerRating) was down .0015Â
.6660..
Energy
August crude
(
CL03Q |
Quote |
Chart |
News |
PowerRating) oil was up after an
attack on an Iraqi pipeline caused the market to speculate that the return of
Iraqi oil will be further delayed. As such, the near month contract was up 1.77
to close at 31.77. Natural gas was up .156 to close at 4.874
(
NG03Q |
Quote |
Chart |
News |
PowerRating).
Currencies
The USD index
(
DX03M |
Quote |
Chart |
News |
PowerRating) was down by .27 to close
at 96.87.