Favorable October Jobs Report Fuels Bonds And Stock Index Futures
The Labor Department reported that wages and jobs grew at a slower-than-expected pace and that sent T-bonds and stock index futures rallying.
December T-bonds [USZ9>USZ9] (from the Momentum-5 List) shot up nearly 1 point following the release of the data and finished 17/32 higher at 114 20/32.
Also from the momentum-5 List, NASDAQ 100 futures [NDZ9>NDZ9]
shot up to a new all-time high and closed up 62.00 at 2783.00. The S&Ps [SPZ9>SPZ9], a pullback candidate, rallied as many as 25 before settling up 16.10 at 1384.60. Dow futures [DJZ9>DJZ9] closed 90.0 higher at 10,792.0.
December dollar index futures [DXZ9>DXZ9] fell .15 to 100.15 after setting a new 20-day high. Japanese yen [JYZ9>JYZ9] were the weakest currency futures, falling .0103 to .6485. Canadian dollars [CDZ9>CDZ9] gapped higher then reversed, making good on its Turtle Soup Plus One Sell setup to close down .0020 at .6823.
Unleaded gas [HUZ9>HUZ9] and heating oil [HOZ9>HOZ9] gapped open and also reversed after hitting 20-day highs. Unleaded gas finished .0011 higher at .6446 while heating oil fell .0055 to .6092. Natural gas [NGZ9>NGZ9] rose .058 to 2.884.
In the metals, December silver [SIZ9>SIZ9] fell to a two-month low, losing 13.7 to close at 508.5.
The grains languished again in uninspired trading. December wheat [WZ9>WZ9] and January soybeans [SF0>SF0] each fell 3 1/4.
In the softs December cocoa [CCZ9>CCZ9] hit a contract low and closed down 6 at 830. Coffee [KCZ9>KCZ9] dropped 1.00 to 104.95.
Finally, December cotton [CTZ9>CTZ9] fell .61 to a one-month low of 51.11.