Metals And Energy Soar, Dollar Tumbles
In today’s economic news,
the Labor Department reported Initial Jobless Claims
fell 10,000 to 302,000 versus expectations of 305,000
(report).
The Commerce Department revised Q4 GDP up to 1.7%, in line with expectations (report).
Treasuries fell for the fourth consecutive day, pushing yields higher. The US
Dollar Index fell sharply, as the Dollar fell against all major currencies.
Today’s decline versus the Euro was the worst in more than two months.
Gold, Silver and Copper closed at a new contract highs, boosted by the weaker
Dollar, concerns about inflation and higher interest rates.
Crude Oil, Unleaded Gas, Heating Oil and Natural Gas all closed higher. Natural
Gas hit a five-week high after a larger than expected drop in supplies was
reported by the EIA. Unleaded Gas hit its highest level in more than six-months.
In the softs, Coffee jumped more
than 4%, Cocoa and Cotton rose more than 1%. All the grains closed higher.
Initial Jobless Claims Down 10,000 To 302,000 (report).
GDP Revised To 1.7% Increase For Q4 (report).
Ashton Dorkins
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