Strong Microsoft Earnings Boost Stock Index Futures
Exceptional earnings by America’s largest company, Microsoft, sparked a rally in technology issues that spread to the broad market and lifted stock index futures.
December Dow futures [DJZ9>DJZ9] rallied 125.0 to 10,417.0, S&P futures [SPZ9>SPZ9] gained 18.0 to 1292.50 and NASDAQ 100 futures [NDZ9>NDZ9] ended 88.50 higher at 2471.00. The indexes sold-off slightly from their highs after the stock market closed and IBM announced earnings
T-bonds [USZ9>USZ9] traded within a half-point range and matched their recent contract low of 110 24/32. The December contract ended 3/32 higher at 111 5/32.
The rally in equities and a downward revision in August trade deficit figures pushed December dollar index futures [DXZ9>DXZ9] up .87 to 97.95. As the dollar rallied, the Japanese yen [JYZ9>JYZ9] fell .0117 to .9466, Swiss francs [SFZ9>SFZ9] dropped .0074 to .6786 and British pounds [BPZ9>BPZ9] lost .0092 to 1.6634.
The energies took a sharp turn north in the last final 45 minutes of trading to end positive on the day. December crude [CLZ9>CLZ9] gained .14 to 22.48, unleaded gas [HUZ9>HUZ9] rose .0081 to .6326 and heating oil [HOZ9>HOZ9] traded up .0031 to .5925. Natural gas [NGZ9>NGZ9] fell .051 to 3.144, making good on its Turtle Soup Plus One Sell signal.
In the metals, December silver [SIZ9>SIZ9], from the Implosion-5 List fell 1.8 to 520.5. Gold [GCZ9>GCZ9] also lost 2.2 to close at 307.3 while copper [HGZ9>HGZ9] gapped open and closed 2.20 higher at 81.30.
The grains started moving after registering on the Multiple Days Low Volatility List: December wheat [WZ9>WZ9] fell 5 1/4 to 257 3/4 and November soybeans [SX9>SX9] dropped 6 3/4 to 488. December soybean oil [BOZ9>BOZ9] closed .19 lower at 16.37 and December soymeal [SMZ9>SMZ9] fell 1.9 to 153.9.
In the meats, December live cattle [LCZ9>LCZ9] had one of their biggest down days in months, falling 1.325 to 68.950. November feeder cattle [FCX9>FCX9] also tumbled 1.452 to 81.175. Lean hogs [LHZ9>LHZ9] fell 1.050 to 47.925 and closed just below Turtle Soup Plus One Sell trigger.
March sugar [SBH0>SBH0] continued rallying off yesterday’s six-week low, adding .25 to close at 6.94. Coffee [KCZ9>KCZ9] went the other way, falling 2.25 to 95.40