Natural Gas Jumps 10%
Monday’s economic calendar was
light,
with only the Commerce Department’s report on Personal Income and Spending
providing much market interest. The report showed that Personal Spending
outpaced Income in December
(report).
The growth in spending was above analyst expectations.
The report sent Treasuries to their lowest level
since mid-December. The US Dollar rose versus the Euro and Yen with traders
suggesting that tomorrow’s interest rate rise by the Fed may not be the last.
All the energies rose ahead of tomorrow’s OPEC
announcement. The standout performer was Natural Gas (NGH6) which jumped more
than 10% as cold weather was forecast for the Northeast US over the next
2-weeks. Exxon Mobil
(
XOM |
Quote |
Chart |
News |
PowerRating) reported a 27% increase in Q4 net profit to
$10.71 Bln (report).
Concerns about Iran’s nuclear research program
helped push Gold to its highest close in 25-years. Silver hit its highest level
since 1984.
Personal Spending Up 0.9% In Dec.; Personal Income Up 0.4% (report).
Ashton Dorkins
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