What’s Running Higher?
Profit-taking
interrupted
the big moves to the upside in today’s market. Blue chips suffered a triple-digit loss, though
tech stocks logged modest gains made after Morgan Stanley upgraded Intel
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The March Dow Jones Industrial Average
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and the March S&P 500 lost 2.60 to close at 1149.10.
Bonds were weak in response to a better-than-expected reading on the U.S.
service sector, and the dollar was mixed. The March 30 Year Bond
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closed at 103.094 up .19 and the 10 year Note
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end at 106.297. The dollar
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Petroleum futures ran higher today as turmoil in the Mideast heated up and after
indications from a senior official that Russia will continue its export cut into
the second quarter.
April crude oil
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April heating oil
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and April unleaded gasoline
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Wheat futures jumped 1.26% higher on the Chicago
Board of Trade after prime winter wheat-growing areas reported a decline in crop
conditions. Wheat for May delivery
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corn
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Precious metals dropped lower Tuesday, with April gold
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Comex division of the New York Mercantile Exchange breaking below its 295
support level. Gold for April closed at 294.00 down 2.70. In early trade, fund
buying propelled May silver
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from Monday. Then the bears showed up and pulled silver lower to 455.000 down
5.20. May copper
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