On Friday, Asian markets got off to a mixed start with the Shanghai composite index down 0.4% while SHFE Feb copper settled 0.8% higher in Shanghai today. In Europe, the Euro firmed to $1.353 amid positive readings on German business sentiment (109.3) and 3rd quarter GDP growth (0.3%). In London,... read more
Davis Trading News
Stocks and commodities continued to part ways this morning as the Dow Industrials pushed past the 16,000 level while the DJ-UBS Commodity Futures Index eased 0.1% as the dollar also softened. In London, base metal prices were down across the board this morning, including lower LME official 3-mo. asking prices... read more
On Friday, markets got off to a sluggish start as most of the major stock indexes in Asia and Europe and the majority of nonferrous metal prices in London were in negative territory this morning. In early trading, LME 3-mo. copper and aluminum were reportedly down around $6,975/mt (=$3.164/lb.) and... read more
On Friday, investors will be taking direction from the October employment situation report due out a little later this morning, with most analysts expecting modest nonfarm payroll growth of between 110,000-120,000 jobs added last month. As with other key economic indicators, their are considerable downside risks with the jobs numbers... read more
Commodities got off to a mixed start this morning as the DJ-UBS Commodity Futures index slipped 0.4% while the dollar weakened against most major currencies ahead of a busy economic calendar this week. In London, base metals were lower across the board this morning including softer LME official 3-mo. asking... read more
On Friday, better than expected Purchasing Managers’ Index figures out of China provided some early support to commodity prices although equity prices at the major exchanges in Europe were down in morning trading. In Shanghai, SHFE Jan copper settled 0.3% higher today and while in London LME 3-mo. copper and... read more