What Traders Are Digesting…
The June Dow Jones Industrial Average futures
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gapped at the open and then within a half hour was trading down at yesterday’s intraday lows. Then the Dow
futures began a rally as investors digested the data from
the preliminary report issued by the Labor Department. The report showed
that business productivity, or output per number of hours worked, surged 8.6% in
the first quarter. This follows a 5.5% increase in the fourth quarter. Trading was as high as 9923, then pulled back after the Fed announced that Interest rates
would stay the same. The Dow
futures closed at 9795 up 5.00.
The June S&Ps
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today ending the session at 1047.40 down 4.40.
The June Nasdaq 100
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day low today. The June futures closed at 1156 down 9.50.
The Bonds ended up mixed on the day. The June
30 year bond
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Tony Crescenzi’s Bondwire for more insight on the Fed’s decision.
Today wet weather in the Midwest delayed plans
for farmers planting corn. These delays pushed July corn
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higher to $2.04 1/2 per bushel up 4.00 or 1.10%. Wheat and soybeans also moved
higher as well. July wheat
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bushel and July soybeans
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In the metals today, June gold
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started out lower on the session, but by the end of the trading day, had rallied
to close just above its open. June gold ended at 311.90 up .40. May silver
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May copper
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June crude oil
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million barrels a day. The U.S energy officials warned OPEC that they need to
boost production by a million barrels a day by the end of this year to keep oil
prices from rising too high. June crude closed at $26.62 a barrel up .51 or
1.95%. June heating oil
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unleaded gasoline
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natural gas
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