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Home / Futures Blog / Stocks, energy, copper futures rise on optimistic economic data

Stocks, energy, copper futures rise on optimistic economic data

December 1, 2010 by Daniels Trading

December began with a bit of Christmas cheer for the financial world – better-than-expected Black Friday and Cyber Monday sales and rising employment figures stoked some optimism about the pace of the economic recovery.

The November 2010 ADP employment report showed that private-sector employment rose 93,000 from October to November, the tenth consecutive month of  gains and well above the average figure of 47,000 new jobs. The service sector generated the majority of the new jobs – 79,000 in total – followed by the production of goods. As is typical, small businesses did most of the hiring – 54,000 new jobs were added by firms with less than 50 workers, while those with over 500 workers added just 2,000 positions.

However, ADP cautioned that despite the job growth, figures are still too anemic to seriously dent the unemployment rate – and millions will soon reach the end of their jobless benefits.

In addition, a report from comScore showed that sales on so-called "Cyber Monday" – the online-shopping analogue to Black Friday – passed $1 billion for the first time. Technology sales led the gains, with a focus on luxury consumer goods such as flat-screen high-definition televisions, Apple iPads and various smartphones and video game consoles. Overall, holiday spending is up 13 percent this year, while Cyber Monday set an all-time online shopping record and was up 16 percent from a year ago.

Futures brokers and traders reacted accordingly, and stock index futures rallied on the first day of December. Dow Jones Industrial Average index futures rose 204 points to 11,200, while S&P 500 index futures gained 21.1 points to 1,200.7 at 10:48 a.m. EST. Nasdaq 100 index futures climbed 47 points to 2,164.

Crude oil futures also gained – on ICE Futures, Brent crude rose 1.98 percent to $87.26 per barrel, while light, sweet West Texas intermediate crude oil futures gained 1.74 percent to $85.57 per barrel.

Copper futures – another commodity which sees price increases in good economic times – gained 2 percent as well, climbing to 390.25 cents per pound. Even natural gas, which has been depressed by a record supply glut lately, rose 0.19 percent to $4.188 per million British thermal units.

Risk Disclosure

This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

Filed Under: Archived News

About Daniels Trading

Daniels Trading is an independent futures brokerage firm located in the heart of Chicago’s financial district. Established by renowned commodity trader Andy Daniels in 1995, Daniels Trading is built on a culture of trust committed to the firm’s mission of Independence, Objectivity and Reliability.

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Risk Disclosure

This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

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