Have markets adopted a "risk on" attitude?

January 25, 2017 7:56AM CST

March index futures are stronger as the Dow has breached 20,000. Markets seem to have adopted a “risk on” attitude in the wake of pro-business Trump cabinet appointments and rhetoric towards deregulation.

April gold futures are lower, trading near $1,199 (-14.4), with silver down at $16.96 per ounce. The March S&P contract is up near 2293 (+18.25 pts.) and the Dow is in the green by 162 points at 20,006. March bond futures are the inverse, down to 12325 (-14) and 14914 (-1.05) for Notes/Bonds respectively.

Crude oil is running into headwinds above $53 ($52.62 currently), as the market weighs Keystone/Dakota pipeline approval, higher rig counts and bearish inventory numbers this morning. Natural gas futures continue to trend upward, in the green at $3339.

Large crop supply and favorable South American weather have weighed upon agricultural futures. Corn ($3.66), wheat ($4.24) and soybeans ($10.05) are near unchanged at today’s close. Monthly Cattle-on-Feed will hit the wires at 2 pm CST on Friday.

End-of-week economic news will include Q4 2016 GDP data and Durable Goods revealed at 7:30 am CST, with the FOMC looming on Tuesday. Saturday begins the Chinese New Year, extending through the next week.

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