Equity markets are mixed nearing the mid-point of US Thursday trading. S&P and NASDAQ futures are bearish as indexes take a breather during a sustained post-election up move. That said, the Dow is slightly higher, up 43 points. President-elect Trump speaks today at an Indiana Carrier manufacturing facility that’s retaining previously out-sourced positions. Markets have responded favorably to the pro-business cabinet appointments of Mnuchin and Ross.
December gold futures are lower, trading near $1,174 (-1), with silver up at $16.69 per ounce. The December S&P contract is down near 2190 (-8 pts.) and the Dow is in the green by 41 points at 19,173. December bond futures are selling off at 12423 (-16) and 15028 (-1.25) for Notes/Bonds respectively.
Crude oil continues to surge, at roughly $52.25, trading up an additional $2 following yesterday’s $4 jump. Natural gas futures continue to trend upward, in the green at $3495.
Despite strong advances in crude, agriculturals are weaker after overnight strength. Near-term direction seems to be down with bearish weather and mixed weekly demand numbers. Corn ($3.42), wheat ($3.95) and soybeans ($10.29) are lower headed into Friday’s session.