Gasoline Tanks On More Supply, Lower Demand
The weekly American Petroleum Institute report released after the close of New York trading Tuesday showed gasoline supplies jumping unexpectedly while consumer demand for the product fell 18%. Unleaded gas responded by dropping as much as 4% Wednesday morning and crude oil is also sharply lower (down 4% in two days).
From the Pullback Off Highs List, pork bellies have traded up their daily limit.
Going the other way, T-bonds are trading lower, despite weaker energy prices and the bullish productivity and wages data released from the Labor Department Tuesday.
Here are the highlights around noon Eastern time:
Stock Index and Bond Futures•March T-bonds [USH0>USH0]: -10/32 to 93 24/32
•December S&Ps [SPZ9>SPZ9]: -.50 to 1415.30
•December Dow futures [DJZ9>DJZ9]: +20.0 to 11,155
•December NASDAQ 100 futures [NDZ9>NDZ9]: +3.5 to 3215.00
Currencies
•December dollar index futures [DXZ9>DXZ9]: +.08 to 100.90
Energies•January crude [CLF0>CLF0]: -.49 to 25.73
•January unleaded gas [HUF0>HUF0]: -.0192 to .7090
•January heating oil [HOF0>HOF0]: -.0115 to .6455
Metals•February gold [GCG0>GCG0]: -1.3 to 284.1
Grains•January soybeans [SF0>SF0]: -5 to 475 1/4
Meats•February pork bellies [PBG0>PBG0]: +3.000 to 79.775
Softs and Fibers•March cocoa [CCH0>CCZ9H0]: +14 to 887
•March coffee [KCH0>KCH0]: -1.90 to 131.70
•January orange juice [OJXF0>OJF0]: -1.15 to 95.90