Indexes Recover After Taking It On Chin
Marc Dupee will be out of the
office until November 10. In his absence this column is being written by
TradersWire’s Duke Heberlein.
New York Yankee catcher Yogi Berra uttered the classic
line “it feels like deja vu all over again”, which would describe the
first part of Thursday’s trading. After democratic campaign manager William
Daley spoke early in the afternoon in Tallahassee, the gloves were off in the
campaign fighting, but the markets were what was sent reeling backward.
Daley’s press conference let the air out of an already
leaky balloon, yet the stock index futures took the blow and recovered nicely
from hit, making significant gains off their intraday lows. The Dow futures
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added more than 24 points after bottoming, and the NASDAQ 100 futures
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points going into Globex overnight trading.
The European Central Bank intervened in the Euro FX
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least the short term as it finished up .01070 at .8672. Swiss francs
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and the British pound
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December dollar index futures
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the Canadian dollar
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Lean hogs
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setting up into an inverted head and shoulders pattern, was up .375 to close at
52.575, and the rest of the meats followed to finish in the green. February pork
bellies
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Metals enjoyed a second consecutive up day,
with December gold
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to 266.90.
Energy futures got a slight across-the-board
lift in the session, with heating oil
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to over 1.00 per contract, ending trading at 1.020, up .0607. Crude oil
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gasoline
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respectively.
Orange juice
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prior resistance at the end of trading, continuing its momentum higher. December
cocoa
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their slide, finishing to the downside.
Grains lost
some of their recent momentum, giving back gains along with the rest of the
market, with December wheat
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1/4, soybeans
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