Jobs Report Spurs Stock Indexes To New Records
Stock index futures surged on news of a better-than-expected jobs report. Unemployment held steady at 4.1% but wage growth slowed unexpectedly in November and Wall Street interpreted that as a signal to buy equities and index futures. The Nasdaq 100 futures and S&P futures closed at new records.
From the Momentum-5 List, NASDAQ 100 futures [NDZ9>NDZ9] catapulted as many as 100 higher before easing and closing up 62.00 at 3174.50. S&P futures [SPZ9>SPZ9] rose 26.30 to 1438.50 and Dow futures [DJZ9>DJZ9] rallied 260.0 to 11325.0.
March T-bonds [USZH0>USH0] kicked into rally mode after a two-week down draft on the jobs news, ending 28/32 higher at 93 13/32.
The currencies ended little changed: December dollar index futures [DXZ9>DXZ9] gained .01 to 25.81 and Swiss francs [SFZ9>SFZ9] added .0016 to .6291.
The energies were relatively quiet today. January crude [CLF0>CLF0] slipped just one penny to 25.81 while unleaded gas [HUF0>HUF0], the most active contract, fell .0078 to close at .0078. Natural gas [NGF0>NGF0] fell more than 5%, or .130 to 2.331, on continued warm weather in the Northeast and Midwest, the principal consuming areas.
February gold [GCG0>GCGO], from the Implosion-5 List, found few buyers for a fifth consecutive day and tumbled another 5.0 to 282.1. Silver [SIH0>SIH0] and copper [HGH0>HGH0] held their ground though, gaining 1.0 and 1.35, respectively.
February lean hogs [LHG0>LHG0] and pork bellies [PBG0>PBG0] resumed their upward march after brief pullbacks from highs and ended .600 and 2.900 higher, respectively.
Coffee [KCH0>KCH0] surged to a new contract closing high, rallying on evidence of irreparable damage to the Brazilian crop. The March contract, which registered on the Momentum-5 List surged 8.10 to 144.05. Sugar [SBH0>SBH0] surged off four-month lows hit on Wednesday, rallying .23 to 5.98 on forecasts of a poor Brazilian cane harvest. March cocoa [CCH0>CCH0] slipped as deliveries to ports resumed, following unrest in the major West Africa growing region. The March contract edged 12 lower to 835.