False Shots
Unconfirmed reports of gunfire and tank movements in the
Ivory Coast capital of Abidjan appear to have been a false alarm according to officials
from the world’s largest producer of cocoa. Traders rushed to the exit gates after the report and made good on a Turtle Soup Plus One
Sell setup. July cocoa
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juice
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of the week, partially filling the window left from Monday’s gap opening. The
September contract closed 1.70 lower at 85.55.
Cotton
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fell to new contract lows, clipping .85 to 54.16
T-bonds
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oil costs will fuel inflation and force the Fed to raise interest rates. The
September contract fell 19/32 to 95 30/32 and
September 10-year notes
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Stock index futures dumped tech shares such as Microsoft and Oracle, taking some
of the gas out of the NASDAQ 100 futures
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closed 134.50 lower at 3728.00. September S&P futures
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a hit, slipping 12.80 to 1463.50.
Dow futures
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to 10,559.0.
The prospect of rising interest rates and potentially higher stocks prices
boosted September dollar index futures
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and Swiss francs
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10-day lows Thursday.
The energies ended mixed with August crude
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moving up slightly to close at a new contract record. Natural gas
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made good on a Turtle Soup Plus One
Sell reversal, closing down .097 at 4.416.
Grains touched new contract lows on forecasts for favorable weather
ahead. Corn
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498 and wheat
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In the meats August pork bellies
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their daily limit on predictions of a light slaughter and heavier demand during
next week’s Independence Day holiday.