Monthly Archives: January 2014

Choppy US equity session after GS and WFC earnings; inflation remains under Fed’s target

Today’s session was a choppy one for US equities, with the S&P 500 closing lower by -0.13%, led down after Goldman (GS) and Wells Fargo (WFC) reported earnings that were largely disappointing to investors. Treasuries rose after reports showed an increase in continuing unemployment claims and inflation that remains below the Fed’s target. Crude oil slipped after OPEC forecast weaker demand, while natural gas advanced as cold weather boosts demand for fuel; cotton and sugar outperformed…

Equities extend gains with S&P 500 notching its first record high of 2014; Soybeans soar on Chinese demand, Oil higher on lower US investories

Equities rallied for a second day, staying in the green throughout the session with seven of ten sectors closing higher after the world bank raised its global GDP forecast to 3.2% from 3%. Crude oil jumped after a government report showed inventories in the US tumbled to its lowest level in nearly 22 months, with WTI solidly outpacing Brent on the day. Soybean prices took off today, rising the most in 5 weeks on signs of higher demand from China. In the precious metals realm, gold futures slumped the most in a week on speculation the Fed will continue tapering its asset purchases, which would boost the dollar and cut the metal’s appeal as an alternative investment. Treasuries declined for a second day amid signs of economic improvement…