Greenspan Hypes Tech And Nasdaq 100 Futures Soar To New High
In the Fed Chief’s speech to CEOs in Boca Raton, Florida last night, Greenspan endorsed technology and left the impression he would not raise interest rates in the near future. Nasdaq 100 futures are trading at an all-time high. Nasdaq 100 futures, S&P futures and Dow futures all registered on the Momentum-5 List.
T-bonds are also rallying on Greenspan’s words and following through on economic data from this week that showed the economy expanding but with subdued inflation.
British pounds are rallying and are trading at their Turtle Soup Plus One Buy trigger.
Energies, coffee and pork contracts are rallying as well.
Here are the highlights around noon Eastern time:
Stock Index and Bond Futures•December T-bonds [USZ9>USZ9]: +1 3/32 to 113 12/32.
• December S&Ps [SPZ9>SPZ9]: +28.10 to 1378.30
• December Dow futures [DJZ9>DJZ9]: +113 to 10,800
• December NASDAQ 100 futures [NDZ9>NDZ9]: +98.50 to 2659.00
Currencies
•December dollar index futures [DXZ9>DXZ9]: -.17 to 99.05
•December Japanese yen futures [JYZ9>JYZ9]: +.0079 to .9655
•December British pounds [BPZ9>BPZ9]: +.0056 to 1.6440
Energies•December crude [CLZ9>CLZ9]: +.32 to 22.00
•December unleaded gas [HUZ9>HUZ9]: +.0120 to .6225
•December heating oil [HOZ9>HOZ9]: +.0074 to .5890
Metals•December gold [GCZ9>GCZ9]: +1.1 to 301.5
•December silver [SIZ9>SIZ9]: +2.5 to 530.5
Grains•December wheat [WZ9>WZ9]: -3 1/2 to 253 3/4
Meats•February pork bellies [PBG0>PBG0]: +1.150 to 62.300
•December lean hogs [LHZ9>LHZ9]: +.750 to 46.600
Softs and Fibers•December coffee [KCZ9>KCZ9]: +2.50 to 99.20
•January orange juice [OJF0>OJF0]: +1.45 to 91.75