Crude futures notched their fourth consecutive advance today, buoyed by a robust round of economic reports on U.S. employment and manufacturing. Similarly upbeat data from a key emerging market also played a role, as traders learned that manufacturing activity in China climbed last month. In fact, the front-month contract tapped an intraday peak of $85.22 per barrel, marking its highest price since Oct. 9, 2008. By the close, crude oil for May delivery settled on a gain of $1.11, or 1.3%, at $84.87 per barrel -- an 18-month peak. On a weekly basis, crude tacked on an impressive 6.1%.
Gold futures also enjoyed a positive session, as the day's well-received economic data stoked traders' appetites for riskier assets. The malleable metal shrugged off a mixed session for the U.S. dollar, which hit a seven-month high versus the yen, even as it lost ground versus the euro and the British pound. June-dated gold futures wrapped up the day on a gain of $3.30, or 0.3%, at $1,117.80 per ounce. For the week, gold added 1.1%.
Wall St. Levels to Watch in Trading
Dow Jones Industrial Average (DJIA – 10,927.07) - support at 9,000; resistance at 11,000
S&P 500 Index (SPX – 1,178.10) - support at 950; resistance at 1,300
Nasdaq Composite (COMP – 2,402.58) - support at 1,900; resistance at 2,600
Wall St. Levels to Watch in Trading
Dow Jones Industrial Average (DJIA – 10,927.07) - support at 9,000; resistance at 11,000
S&P 500 Index (SPX – 1,178.10) - support at 950; resistance at 1,300
Nasdaq Composite (COMP – 2,402.58) - support at 1,900; resistance at 2,600
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