London Stocks End Tad Higher Despite GDP Reverse

FTSE 100 ends 0.2% higher at 5718.89. Although the index underperforms versus peers, it closes off lows seen after 1Q GDP data confirmed a contraction in UK economic growth. Jordan Lambert at Spreadex says impressive results from the likes of Apple and Boeing in the US have helped sentiment. Continue Reading…

May soybeans were trading 25 1/4 cents higher late in the overnight session. China futures were up 0.6% overnight. Palm oil futures in Malaysia closed up 1.4% overnight. Equity markets in Asia were mixed overnight, with Hong Kong prices weaker and the Shanghai market tracking higher off rumors that the Chinese government might be poised to provide some fresh support to their housing sector. Continue Reading…

The silver market has started the Wednesday US trade action marginally above yesterday’s close but in the lower quarter of this week’s range. While silver prices were generally outperforming gold in the early action today, that edge wasn’t overly impressive. Continue Reading…

June natural gas prices have taken a slightly higher track this morning after yesterday’s negative reversal action. While Monday’s strength in the natural gas market has been chalked up to shortcovering, technical conditions remain extremely oversold and vulnerable to further upside. Continue Reading…

July cocoa has been unable to sustain yesterday’s sharp upside move into this morning’s session but the market has been able to consolidate relatively close to Tuesday’s highs for the move. Continue Reading…

June crude oil prices traded higher throughout the overnight and early morning hours, supported by strong gains in outside markets and private industry data that showed an
unexpected decline in weekly US crude stocks. Continue Reading…

July wheat was trading 5 1/2 cents higher late in the overnight session. Outside market forces look positive today with a weak USD and strength in energy and equity markets. Ideas that the eastern Corn Belt will not be cold enough far enough south to cause much damage to the soft red winter wheat crop was seen as the key reason for the late sell-off in wheat yesterday. Continue Reading…

The market is finding support from strong outside market forces this morning as economic fears have been reduced with a strong stock market and a little less concerns for Europe. July cotton pushed to the highest level since April 3rd yesterday before closing sharply lower on the day. Continue Reading…

Not surprisingly, Treasuries have started out weaker on the charts this morning, as US equities are making noted gains and the Apple earnings news last night seems to have taken the markets attention away from Euro debt fears and from the actual pace and direction of the US economy. Continue Reading…

June gold has started out marginally below yesterday’s close but up significantly from the Tuesday lows. While it would not seem like there is a definitively up beat risk on vibe in
place this morning, US stocks are making noted gains, the Euro is higher and portions of the world economy were cheered by solid earnings results from Apple. Continue Reading…