Crude Continues Slide
Crude oil is lower for a third day, racking up a three-day loss of 10%, so far. OPEC’s only Asian member, Indonesia, indicated it wants to increase its oil exports and this threatens the cartel’s production-limit agreement that has acted to doubled prices over the past six months.
From the Turtle Soup Plus One Sell List, coffee is down over 3% and cocoa is giving back some of its steep gains made over the past two days.
Three upward pointing arrows on the Market Bias Indicators Page suggested stock index futures could rise. Yahoo was added to the S&P 500 index and its inclusion is bolstering tech and Internet issues.
Here are the highlights around noon Eastern time:
Stock Index and Bond Futures•March T-bonds [USH0>USH0]: -6/32 to 92 28/32
•December S&Ps [SPZ9>SPZ9]: +10.30 to 1401.80
•December Dow futures [DJZ9>DJZ9]: +89 to 10977.0
•December NASDAQ 100 futures [NDZ9>NDZ9]: +30.50 to 3003.00
Currencies
•December dollar index futures [DXZ9>DXZ9]: +.32 to 102.23
•December Japanese yen futures [JYZ9>JYZ9]: -.0044 to .9789
•December Swiss francs [SFZ9>SFZ9]: -.0044 to .6290
•December British pounds [BPZ9>BPZ9]: -.0032 to 1.5958
Energies•January crude [CLF0>CLF0]: -.27 to 24.32
•January unleaded gas [HUF0>HUF0]: -.0099 to .6700
•January heating oil [HOF0>HOF0]: -.0093 to .6290
•January natural gas [NGF0>NGF0]: +.065 to 2.360
Metals•February gold [GCG0>GCG0]: -1.8 to 291.2
•March silver [SIH0>SIH0]: -4.0 to 520.0
Grains•March wheat [WH0>WH0]: +2 3/4 to 252 1/4
Meats•February pork bellies [PBG0>PBG0]: -1.075 to 75.750
Softs and Fibers•March cocoa [CCH0>CCH0]: -33 to 866
•March coffee [KCH0>KCH0]: -4.35 to 130.25
•January orange juice [OJF0>OJF0]: +1.15 to 98.20