Which Markets Received A Boost From Today’s Data?
Copper hit another record high today
following the Commerce Department’s release of Building Permits data.
Viewed as a sign of future construction, Building Permits hit
a 32-year high and indicate demand for the industrial metal will remain high.
September Copper +0.41%, September Silver +1.12%
and December Gold +0.87% all closed higher among the metals.
Despite news of an incident an Exxon Mobil’s refinery in Texas adding to supply
concerns, crude oil closed down slightly in a mixed energy complex. October
Crude Oil -0.48% and October Heating Oil -0.14% closed lower. September
Harbor Unleaded Gas +0.86% and October Natural Gas +2.40% both closed
higher and were highlighted last night TradingMarkets
Momentum 5 List.
US treasuries rallied following the release of
Consumer Prices and Industrial Production data. The CPI data showed the biggest
jump in consumer prices in 3 months. Both numbers came in above expectations but
not nearly as high as feared after the Federal Reserve stated inflation
pressures are “elevated.” September 10yr T-Note +0.34%, 5yr T-Note
+0.22% and 2yr T-Note 0.07% closed higher.
The US dollar also rallied after the CPI report
but then gave back some of its gains following the Industrial Production report.
The dollar hit a 2-week high vs. the euro.
Economic News
Store Sales:
W/W Change – Actual -0.2
Consumer Price Index:
CPI, M/M Change – Actual 0.5% Consensus 0.4%
CPI (excl. Food and Energy), M/M Change – Actual 0.1% Consensus 0.1%
Housing Starts:
Starts – Actual 2.042 M Consensus 2.050 M
Permits – Actual 2.167 M Consensus N/A
Industrial Production:
Production, M/M Change – Actual 0.1% Consensus 0.5%
Capacity Utilization, M/M Change – Actual 79.7% Consensus 80.3%
Ashton Dorkins