Look Who Covered Their Shorts
Stocks finished lower Monday, with tech shares
feeling much of the pressure over concerns about the health of the U.S. economy.
The Dow Jones Industrial Average fell 96.11 points to close at 9891.42, making
it the sixth consecutive daily loss. The Nasdaq Composite index fell 31.72, or
1.6%, to 1990.74. The S&P 500 lost 7.19 to 1138.41. Monday’s trading
session appeared to carry over from late Friday, when stocks fell after some
cautious comments about the economy from Federal Reserve Chairman Alan
Greenspan. All of this uncertainty poured into the broader market index futures.
BROADER MARKET INDEX FUTURES
March S&P 500 futures
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SPH2 |
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7.500 to end at 1140.300. The March Dow Jones futures
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DJH2 |
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lower by 88.00 to 9900.00, while the March Nasdaq futures
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NDH2 |
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lower by 37.50 to 1609.00
FINANCIALS
March 30-Year T-Bonds
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USH2 |
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ended lower at 103.344, down .120. The March 10-Year T-Note
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TYH2 |
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up .09 to 106.734, and the March 5-Year T-Note
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FVH2 |
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.08 to 106.938.
CURRENCIES
The March US dollar index
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DXH2 |
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closed at 116.85, down .170. The March British pound [BPH2|BPH2] rose
.240 to 144.400. The March Japanese yen
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JYH2 |
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.030 to 76.50. The March Swiss franc
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SFH2 |
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.60380. The March Australian dollar
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ADH2 |
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51.470, and the March euro
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ECO2H |
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PRECIOUS METALS
In the metals it was a losing
day. Feb Gold
(
GCG2 |
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(
SIH2 |
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.183 to close at 4.515. March High Grade Copper
(
HGH2 |
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PowerRating)Â was
lower by .0005 to 0.7080, and April Platinum
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PLJ2 |
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4.70 to 475.70.
GRAINS
March wheat
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WH2 |
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lower by 1.50 to close at 306.75. March corn
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CH2 |
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down by 1.75. March oats
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OH2 |
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soybeans
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SH2 |
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PowerRating) continued their push higher to 446.75, up 3.75. March
soybean meal
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SMH2 |
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PowerRating)Â also moved nicely today to the upside,
gaining 3.80 to close at 158.20. And March soybean oil
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BOH2 |
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PowerRating)Â lost
.27 to close at 15.71.
SOFTS
March Cotton #2 [CTH2|CTH2]Â lost
.24 to close at 36.80. March Orange Juice [JOH2|JOH2] lost .50 to close
at 89.80. March Coffee
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KCH2 |
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PowerRating) was higher by .85 to close at 50.40.
March Cocoa
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CCH2 |
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SBH2 |
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ended lower at 7.62, down .14, and Jan Lumber
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LBF2 |
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to end the session at 233.50.
MEATS
Feb Live Cattle
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LCG2 |
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higher by .80 to 70.675. Feb Live Hogs
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LHG2 |
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at 55.250. Feb Pork Bellies
(
PBG2 |
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PowerRating) lost 1.65 to end at 74.050, and
March Feeder Cattle
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FCH2 |
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ENERGIES
Crude oil and refined petroleum products futures
continued their losses Monday as bearish news and weak technical patterns
influenced prices. The Commitment of Traders report showed that funds had
covered one-third of the prior short positions in crude oil for the period ended
Jan. 8. Products also fell sharply due to rising supplies, falling demand and
warmer temperatures.
In midday trading, February crude futures had fallen 61
cents to $19.07 a barrel, February heating oil had fallen 1.74 cents to 52.20
cents a gallon, and February gasoline futures had plunged 2.41 cents to 54.90
cents a gallon. Feb Crude Oil
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CLG2 |
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PowerRating) lost .79 to end at 18.89. Feb Unleaded Gas
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HUG2 |
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PowerRating)Â dropped
2.26 to finish at 55.05. Feb Heating Oil
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HOG2 |
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PowerRating)Â lost 2.28 to
close at 51.66, and Feb Natural Gas
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NGG2 |
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PowerRating) was the only winner today,
closing up .05 to 2.25.