What Pushed Oil Higher Today?
The equity markets finished
mixed, as the Nasdaq moved higher and the Dow finished lower.
Elsewhere, Treasuries and oil posted sizable gains
while the dollar reversed yesterday’s move.
Equities
Equities were mixed today after the Dow reversed
yesterday’s gains while the Nasdaq, though up on the day, pulled back from its
highs. The tech heavy Nasdaq future
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down by .20 to finish at 949.00,
and the Dow
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Fixed Income
Treasuries had their first up day in four as a
result of softer than expected labor market data. The 10 year futures contract
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up -195 to close at 119-025; the 30 year
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was up 1-02 at 120-19; and the five year note was up 125 at 116-150
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Metals
July gold was unchanged, despite a weaker dollar
and was unchanged at 369.60
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silver
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mixed, as copper was down .20 at 77.05
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up .0030 to close at .6530.
Energy
Crude oil was higher after gasoline inventories
posted a bigger-than-expected draw-down. June crude was up .14 cents to
close at 29.24
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close at 5.925
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Currencies
The dollar gave back some of yesterday’s gains. The USD index
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down by .74 and
finished at 92.84.