The U.S.' largest automaker's stock sale and increased manufacturing in metropolitan Philadelphia prompted the value of industrial metals to rise on Thursday, the Associated Press reports. Also pushing up the price of commodities was Ireland inching closer to accepting a bailout for its banks' debt, which weakened the dollar. That, in turn, also boosted commodity futures. Businesses using raw materials… Read more.
Futures Market News
Speculation that China might take action to prevent inflation by again raising interest rates pushed the nation's commodities futures downward on Friday, according to Bloomberg. Cotton, sugar and rubber prices fell amidst additional speculation that additional preventative steps China might take include selling from its reserves. Copper, zinc and soybeans also decreased in value. "The… Read more.
A glance at a commodity futures chart shows a dramatic shift of momentum in the last few months. Every category has seen massive jumps, from cotton to sugar to silver. Crude oil futures appear to be making another bullish run up towards $100 per barrel, while gold futures have decisively broken the $1,400-per-troy-ounce barrier. Grain… Read more.
It wasn’t a good day to be long in commodities, with most major commodities except for cocoa, cotton, corn and orange juice futures taking hits as traders registered their fear of a global slowdown. The trend started in stock futures, which pointed slightly lower and then quickly tumbled. All three major indexes ended the day… Read more.