Where Is Hurricane Dennis Headed?
A series of
four explosions hit London’s subway system during rush hour in what
appears to be a well-coordinated attack; a bomb also hit a double decker bus.
The BBS reported that Al Qaeda took credit for the attacks. The pound was lower.
Jobless claims for the week of 7/2
rose 7,000 to 319,000.
Crude inventories fell 3.6 million
barrels, much more than expected. Distillate stocks saw a build of 4 million
barrels. Gas inventories fell 900K barrels.
Dennis is now a category two
hurricane; it was upgraded overnight from a tropical storm and is headed for
eastern half of the Gulf of Mexico.
Soybeans fell; traders are hoping
that the hurricane will bring rain to the currently dry Midwest.
Safe haven buying in gold subsided
early on, with gold closing -1.30 at 422.90.
Hogs were limit down as contracts
rolled to October.
Brice Wightman
Â
Â