The Trump post-election rally continues to propel equity markets higher at the mid-point of US Thursday trading. December S&P, Dow, and NASDAQ futures are surging again as indexes hit intra-day record highs, advancing the sustained post-election up move. Financial, energy, and defense sectors have steered the move. Markets have responded favorably to pro-business cabinet appointments and a dawning period of economic de-regulation.
December gold futures are lower, trading near $1,172 (-5), with silver down at $17.07 per ounce. The December S&P contract is up near 2250 (+13 pts.) and the Dow is in the green by 136 points at 19,653. December bond futures are selling off at 12507 (-10) and 15111 (-1.07) for Notes/Bonds respectively.
Crude oil is bullish, at roughly $51.85, as traders balance future demand expectations with ongoing high supply. Natural gas futures continue to trend upward, in the green at $3662. Mild temperatures have given way to an Arctic blast well into next week.
Despite strong advances in crude, agriculturals are weaker upon a higher US dollar. Corn ($3.52), wheat ($4.06) and soybeans ($10.29) are lower headed into Friday’s session.