Indications about an economic recovery gaining momentum propped up copper futures after the commodity's largest drop in 60 days, Bloomberg reports. Electrical grids typically implement enormous quantities of copper, which also is used for buildings. Strong business reports emerged from Germany, France and China, three significant economic participants in the global economy. "The market has… Read more.
This post originally appeared in FutureSource’s Fast Break Newsletter, where Tim Chilleri is a regular contributor on various futures trading topics. Trend trading is a popular method of trading but it is critical that you develop and use a framework to execute the trade. The goal is to place yourself in a position to capitalize… Read more.
Precious metals' prices increased on Monday as China declined to increase rates this past weekend and eurozone leaders looked forward to a summit later this week to discuss halting the debt crisis tearing through banks, Bloomberg reports. February delivery gold futures increased $10.20 in New York reaching $1,395.20 per troy ounce. March-delivery silver futures surged… Read more.
Initial jobless claims in the U.S. rose 13,000 to 462,000 in the week ending on October 9, a disappointing result which put U.S. equities investors in a nervous mood. Index futures were largely flat at the open, with Dow Jones Industrial Average Index futures down 4 points to 11,040 and S&P 500 index futures slipping… Read more.
Labor Department figures showed Thursday that the seasonally adjusted number of initial jobless claims dropped unexpectedly by 11,000 to 445,000 in the week ending October 2. That piece of good economic news was enough to deliver a solid boost to U.S. stock index futures, as Dow futures rose 46 points to 10,952 at 9:14 a.m.… Read more.
Copper futures continue to trade around a 2-year high, with increasing demand from industrial exporters like Germany and China counterbalanced by sustained weakness in the economy as a whole. By midday, Globex Decmber copper futures had dropped 2.35 cents to 359.45 cents per pound, after earlier reaching as high as 364.4 cents per pound. Last… Read more.
Several buyout offers failed to boost U.S. stock index futures on Monday morning, as markets tried to start a fifth straight week of gains. The big action was between Southwest Airlines and AirTran; the latter offered the former around $1.4 billion in a merger that would combine two low-cost airlines. Global consumer products giant Unilever… Read more.
As existing stockpiles of copper, one of the most important industrial base metals, continue to fall, copper futures are rising. China and Germany, the world's biggest and third-biggest consumers, respectively, are using more of the red metal as their manufacturing-focused economies recover. "Whatever strength copper has is coming from offshore," Frank McGhee, the head dealer… Read more.
Copper futures got off to a positive start on Thursday morning, with contracts for September delivery rising 2.45 cents to $3.0395 per pound on the Comex in New York just after 9a.m. EST. The metal was aided by news that May industrial production rose in Germany by 2.6 percent rather than the projected 1 percent.… Read more.
Gold futures sank to a six-week low this week, crossing back over the $1,200 per ounce line. The price of gold for August delivery fell $12.60 to $1,195.10 per troy ounce on the Comex in New York trading. Global equities started the day strongly, although they declined as trading continued. U.S. stock index futures were… Read more.