The price of crude oil futures fell on Wednesday, despite the hurricane bearing down on the Gulf of Mexico. West Texas Intermediate light, sweet crude oil futures fell .40 percent to $75.63 per barrel. President Barack Obama declared a state of emergency in Texas, while BP, Royal Dutch Shell, ConocoPhillips and Exxon Mobil evacuated workers… Read more.
Futures on the three major indices fell again after a devastating day of trading yesterday that saw the S&P 500 sink to an 8-month low and the Dow Jones Industrial average slump below 10,000. Job growth remained weak in the U.S., with companies adding only 13,000 jobs in June according to ADP Employer Services. A… Read more.
Traders registered their nervousness about the direction of the global economy on Tuesday morning, as U.S. stock futures extended the downward trend of the past week. The Conference Board, an independent business research association, revised its figures on China’s Leading Economic Index to show a slowing pace of economic expansion. “There is no strong basis… Read more.
Silver futures for immediate delivery rose .24 percent to $18.90 per troy ounce today, beating out gold futures and raising some expectations that silver could continue to perform well through this year and on to the next. The past month has seen silver outperform gold by about 1 percent, even as gold repeatedly hit record… Read more.
U.S. stock index futures pointed to a slightly lower opening on Tuesday morning after a turbulent day of trading on Monday. Signs that China would let the yuan float and thus boost American exports and Chinese consumption were replaced with concerns about financial retrenchment and risk aversion. Dow Jones futures were down 5 points and… Read more.
The price of spot gold hit new record highs Friday, rising nearly 1 percent to break past the $1260 point to trade at $1260.40 per troy ounce, reported Bloomberg. Gold futures previously reached a record price of $1251.85 an ounce last week, but today gold’s rise was accompanied by a corresponding rise on both European… Read more.
A number of economic indicators, including currency and stock market futures contracts, gave different signals as traders awaited Petroleo Brasileiro’s sale of shares worth approximately $25 billion next week. The state-run oil company, more commonly known as Petrobras, is planning what Bloomberg says is the biggest share sale in the Western Hemisphere in at least… Read more.
Wheat futures for July delivery perked up a bit today after slumping yesterday to a four-year low of $4.26 a bushel. The low prices yesterday were partially the result of the summer harvest beginning on the Great Plains, swelling stocks of grain and potentially leading to fears of excess supply. Today, however, the U.S. Department… Read more.
Currency futures are likely to be affected in the coming months by China’s eventual decision on whether to stop artificially inflating its currency value. In recent testimony before the Senate Finance Committee, Treasury Secretary Timothy Geithner said that the U.S. is working on a variety of important trade issues, from enforcement of intellectual property rights… Read more.
A survey of Bloomberg subscribers found that emerging markets no longer represent the most attractive investment destination for investors and analysts, signalling a change in sentiment from the year’s start. A similar poll taken in January rated China as the best market for investors, followed by Brazil. Brazil and China, along with Russia and India,… Read more.