Mixed Markets Waver but Outlook is Bright

December 1, 2016 8:17AM CST

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.

Crude Light Daily

RJO Futures | 222 South Riverside Plaza, Suite 1200 | Chicago, Illinois 60606 | United States
800.441.1616 | 312.373.5478

This material has been prepared by a sales or trading employee or agent of RJO Futures and is, or is in the nature of, a solicitation. This material is not a research report prepared by RJO Futures Research Department. By accepting this communication, you agree that you are an experienced user of the futures markets, capable of making independent trading decisions, and agree that you are not, and will not, rely solely on this communication in making trading decisions.