November 18, 2013

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 for copper ($6,996/mt = $3.173/lb.), aluminum ($1,784/mt = 80.9 cents/lb.) and nickel ($13,760/mt = $6.24/lb.). In New York, COMEX Dec copper and gold futures were down modestly to around $3.1675/lb. and $1,280/to, respectively, while crude oil futures were little changed around $93.85/bbl. In foreign exchange trading the dollar slipped to $1.3527 against the Euro and 99.95 Japanese Yen this morning as the yield on 10-year Treasury notes eased to around 2.68%… 

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