top of page
  • Writer's picturePete

Kind of Gloomy

The News Is What It Is

Weekly Jobless Claims 5.245 Million vs. 6.606 previously yet under the 6 Million expected by many.

Philly Fed. General Business Conditions came in at – 56.6 vs. -30.8 expected and was previously -12.7

U.S. Housing Starts dropped to 1.216M vs. the 1.599M previously

Permits held up relatively well at 1.353M while 1.464M was expected

The EIA Natural Gas report shows a rise of 73 billion cubic feet when it was expected to be only 38bcf

As dismal as these reports were equities did stage a rally only to give back all their gains and then some. By mid-day the dow is 200+ lower and the S&P’s are around 5.00 lower.

Grains at around Noon Eastern are mostly lower apart from corn which is steady to a penny higher.

Meats are working higher but the Hogs are still $4.00 under that gap I spoke of yesterday.

1 view0 comments

Recent Posts

See All

Good News On the Jobs Front

This jobs number should ease some recession fears, although next weeks CPI will be a key indicator as we all know. Payrolls were up 372,00 better than expected with the unemployment rate remains at 3.

More Products to Manage Risk

It is incredible the products the CME Group keep developing to efficiently manage risk. Coming in October they will be releasing products that lenders and other institutional financial market users wi

CME to Launch New Lumber Futures Contract

The CME in August will be introducing a new Lumber Futures Contract that is very beneficial to hedgers. Her are the highlights... New Lumber futures and options Launching on August 8* Th


bottom of page