Wheat futures gained on Monday, as commodity futures brokers and traders projected that hot weather may threaten crops in southwestern Australia and the U.S. will have to step in with further exports to meet global demand. On the Chicago Board Options Exchange, wheat futures for September delivery gained 9.4 cents to $7.142 per bushel, while… Read more.
Stock index futures around the globe soared on Wednesday, despite disappointing jobs data in the U.S. A new report from ADP, the payroll service, showed that for the first time since January, private sector employment in the U.S. fell – a drop of 10,000 jobs, despite an average analyst estimate of 15,000 added jobs. The… Read more.
September is widely regarded among equity and futures brokers and traders as the worst month for stocks – for whatever reason, equity indexes tend to slump once autumn sets in. That pattern probably isn’t helping the already jittery nerves of investors, as U.S. stock index futures dropped once again on August’s last day of trading.… Read more.
The price of gold edged up again on Tuesday, driven by a falling dollar. On the Comex in New York, gold futures for December delivery briefly reached $1,231.10 per troy ounce, the highest price since July 1, reported Bloomberg News. Equities also had a positive day, with the major indexes up 1 to 2 percent.… Read more.
Rio Tinto, the world’s biggest producer of iron ore after Brazil’s Vale SA, saw its earnings increase 125 percent to $5.77 billion in the first half of 2010. The company earned just $2.56 billion during the same period in 2009. The British-Australian mining company was aided by rising iron ore prices, which provided 70 percent… Read more.
The dollar sank on Thursday against the euro, British pound and Australian dollar, as investors reacted to strong equity markets and the words of Ben Bernanke. The chairman of the Federal Reserve spoke to Congress on Wednesday, and his tone was grave and cautious. He warned that the future of the U.S. economy appeared “unusually… Read more.
In a sign that could have ramifications for global markets in both equities and commodities, Chinese property prices fell in June, the Financial Times reported on Monday. After 18 months of sometimes steady, sometimes meteoric rises, the average price of housing in 70 major cities fell slightly, by 0.1 percent. The Chinese government has been… Read more.
CME Group and Dow Jones Indexes announced Tuesday the launch of a new index called the Dow Jones CME FX$INDEX, which they say will give futures brokers and traders a more efficient way to trade global currencies against the U.S. dollar. The index represents the value of the dollar as compared to a basket of… Read more.
Spot gold prices broke through previous highs and smashed records in several currencies during London trading on Tuesday, reaching $1,251.85 per ounce and 1,050.86 euros per ounce. Continuing uncertainty about the sustainability of European sovereign debt and a new warning from the Fitch rating agency that Britain faces a fiscal crisis weighed on investor demand… Read more.