What Moved Oil Today
Equities and oil finished
strong for the day while Treasuries,
metals and currencies were barely changed.
Equities
The equity markets were higher today, led by
technology issues. The Nasdaq index futures contract
(
NDM3 |
Quote |
Chart |
News |
PowerRating) was up by 25.50
to close at 1143.50. The S&P 500 contract
(
SPM3 |
Quote |
Chart |
News |
PowerRating) was up 12.10 to finish at
932.50,
and the Dow
(
DJM3 |
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News |
PowerRating) was up 102 to
finish at 8580.
Fixed Income
For the week, Treasuries made impressive gains
after the Fed indicated that it won’t be raising short-term rates anytime soon.
Treasuries were mixed today as a result of a strong equity market and
yesterday’s poor Ten year note auction. The 10 year futures contract
(
TYM3 |
Quote |
Chart |
News |
PowerRating)
was up 010 to close at 116-230; the 30 year
(
USM3 |
Quote |
Chart |
News |
PowerRating) was unchanged at 116-09;
and the five year noteÂ
(
FVM3 |
Quote |
Chart |
News |
PowerRating) was unchanged at 114-28.
Metals
Gold inched higher after yesterday’s significant
jump. The June contractÂ
(
GCM3 |
Quote |
Chart |
News |
PowerRating) was .2 up to close at 348.90.
Silver
(
SIK3 |
Quote |
Chart |
News |
PowerRating) was down .02 to finish at 4.800. Copper
(
HGK03 |
Quote |
Chart |
News |
PowerRating) was slightly
lower for the day, by .25 to close at 73.85 while aluminum
(
ALK03 |
Quote |
Chart |
News |
PowerRating) was up a meager .0010 to .6500.
Energy
Crude was higher for a third day after OPEC
articulated that it is considering further production cuts next month. June
crude was up .74 to close at 27.72
(
CL03M |
Quote |
Chart |
News |
PowerRating). Natural gas futures
(
NG03M |
Quote |
Chart |
News |
PowerRating) were also higher, trading up .034 to close at 5.806.
Currencies
The dollar was higher against most major
currencies, after suffering significant losses this week. The USD index
(
DX03H |
Quote |
Chart |
News |
PowerRating) was
up .05 and
finished at 95.16.