London Stocks End Sharply Higher; Fed Eyed

FTSE 100 closes 2.4% higher at 5384.11, amid signs that efforts are being stepped up to help Spain’s ailing banking sector. At the same time, expectations of further stimulus by the US Fed are mounting. “It’s now down to Ben Bernanke tomorrow to provide a further boost to the markets in order to keep the recent rally going,” a trader says. Continue Reading…

July soybeans were trading 15 1/2 cents higher near 7:30 cst. China futures closed up 0.7% after a 1% jump the previous session and Palm oil futures in Malaysia were up 1.3%. Hong Kong shares managed more short covering gains overnight, while Shanghai equities simply marked time again on the charts. Continue Reading…

With a sharp upside extension and breakout on the charts overnight, July silver has reached the highest level since May 10th. Like gold and global equity markets, the silver trade seems to be anticipating action from the ECB. Continue Reading…

July cocoa has given back a sizable portion of yesterday’s sharp rebound but still remains well above this week’s lows for the move this morning. A “risk on” market attitude is gaining momentum throughout global markets, which should help to limit cocoa’s downside early in the session. Continue Reading…

July natural gas prices spent the overnight and early morning hours waffling around unchanged levels. The market experienced impressive follow-through action during yesterday session, as it closed in on resistance at $2.50. Continue Reading…

July wheat was trading 5 cents higher near 7:30 am cst. Outside market forces look very supportive today with a break in the USD and a surge higher in equity and metal markets. The market saw a recovery bounce yesterday and the turn up in outside markets could provide solid support today. Continue Reading…

Similar to Friday, the market saw a late sell-off to close sharply lower on the day basis the July futures. Outside market forces were somewhat supportive yesterday and look strong for today but the outlook for a massive ending stocks total for the world continues to hang over the market. Continue Reading…

July crude oil prices traded higher throughout the overnight and early morning hours, boosted by stronger-than-expected economic growth in Australia and on expectations that global central bankers are closer to offering support. Continue Reading…

One didn’t even have to look at the September bond chart this morning to derive the direction of Treasury prices, as a continued shift back toward a risk-on vibe and away from a safe haven mode was already underway in the wake of the US scheduled data release yesterday morning. Continue Reading…

A noted range up extension and definitive upside breakout on the charts in August gold this morning would seem to confirm renewed bullish interest in gold. The gold market seems to be drafting most of its current strength off anticipation of easing from the ECB and with that decision due in early this morning at 6:45 central standard time, one could suggest that gold is already pricing in at least a portion of an easing move. Continue Reading…