Bonds And Buck Buckle But Nasdaq 100 Straps To A New Record
The combination of a record trade deficit and the lowest weekly jobless claims numbers in 26 years, is riling the T-bond market and sending dollar index futures to one of their biggest losses of the year.
T-bonds initially found resistance at the 92 8/32, six-week low, but have broken down below that level, and are filling the gap left on 10/27/99. Dollar index futures have taken one of their biggest declines of the year, falling nearly 1.00 so far in this morning’s session.
All of the largest-volume currency futures are rising in opposition to the dollar, and the Swiss franc and Canadian dollar signaled that they could rise by registering on the Turtle Soup Plus One Buy List.
Nasdaq 100 futures, from the Momentum-5 List, are rallying–even as Blue Chips falter–and are trading at a new record high.
Natural gas is up another 5.7%, rising as seasonal cold returns to consuming regions.
Here are the highlights around noon Eastern time:
Stock Index and Bond Futures•March T-bonds [USH0>USH0]: -22 to 91 30/32
•March S&Ps [SPH0>SPH0]: -1.20 to 1427.50
•March Dow futures [DJH0>DJH0]: -92 to 11270
•March NASDAQ 100 futures [NDH0>NDH0]: +51.50 to 3327.00
Currencies
•March dollar index futures [DXH0>DXH0]: -.75 to 101.20
• March Japanese yen futures [JYH0>JYH0]: +.057 to .9839
•March Swiss francs [SFH0>SFH0]: +.0044 to .6405
•March Canadian dollars [CDH0>CDH0]: +.0021 to .6782
Energies•January natural gas [NGF0>NGF0]: +.144 to 2.630
Metals•February gold [GCG0>GCG0]: -1.9 to 282.7
•March silver [SIH0>SIH0]: +2.5 to 525.0
Grains•March wheat [WH0>WH0]: +4 to 245 1/4
Meats•February pork bellies [PBG0>PBG0]: -.150 to 78.050
Softs and Fibers•March coffee [KCH0>KCH0]: +2.35 to 130.70
•January orange juice [OJXF0>OJF0]: +1.60 to 91.90