What’s Holding Key Support
The Nasdaq 100 dropped to levels not
seen since the September 2001 lows. The Nasdaq 100 was actually below the low of
1088.96. Today’s lows on the
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were at 1079.28, not seen since early October 1998. The June
Nasdaq 100
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positive territory and closing at 1120 up 16 or 1.45%. The June S&P 500
futures
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managed to stay above this key support level and close positive. The SPM2 gained
6.59 to close 1020.80
In today’s precious metals, August gold
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Mercantile Exchange. With a lackluster stock market, the precious metal rose
.60 higher to $321.10 a troy ounce. Today Carolyn Boroden takes a look at the
gold market, with some interesting comments.
Click Here for Carolyn’s take. Meanwhile, July
silver
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higher at $4.915, just off the session high of $4.955 a troy ounce. July
copper
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level of 76.50, then dropped below the support level to close at 76.40 a pound,
down .10.
In the Agriculture market, grain futures prices rose higher. This morning at the
beginning of trading on the Chicago Board of Trade, the Agriculture Department issued the U.S. winter wheat production report. The report disclosed
that wheat production will be less than previously estimated. The U.S. winter
wheat crop came in at 1.2 billion bushels, a cut of 63 million bushels from last
month’s report and the smallest winter wheat output since 1978. This caused
Wheat for July delivery
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a bushel. July corn
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and July soybeans
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highs dropped 7 1/4 cents, or 1.45% to $4.93 1/4 a bushel.
In the energy market, crude oil put its four-day
decline to a halt, ending positive. July crude oil
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$24.64 a barrel, a .52 or 2.16% gain. July heating oil
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rallied to 1.20 of a cent to close up to 63.07 cents a gallon. July unleaded
gasoline
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July natural gas dropped .07 to 3.05.