Energies Watch From A Distance
Energy futures heated up and ended mostly to the upside as the implications
of Sunday’s attack settled in the stomachs of traders. No real conviction took
hold as the oil production was unaffected by the attacks. November light sweet
crude closed higher by 5 cents at $22.45 per barrel. November heating oil ended
the day up $0.0045 at $0.6447.
Volume was light in other markets in slow holiday trading.
November soybeans closed higher, up 1 3/4 cents at $4.54 per bushel.
Cattle futures, amid meager trading, were lower at the close, pulling back
from last week’s rally.
Stock indices pulled back from mid-day highs as U.S. military forces
initiated another wave of attacks on Afghanistan. The close was mixed. Concerns
over retaliatory terrorist strikes as well as the effect of prolonged war on the
U.S. economy weighed on the market into the closing bell. December
S&Ps closed down 6.80, while the December Nasdaq 100 futures closed higher
by 6.50.