Tuesday, February 22, 2011

Case-Shiller Home Price Index:
10-city adjusted M/M change: Prior=-0.4% Acct=-0.4%. The downward rate of change holds steady
10-city not-adj Y/Y Change Prior= -0.4% Act -1.2%
Heavy supply continues to keep prices under pressure



Consumer Confidence: 
Prior=60.6 Revised to=64.8 Est=65.0 Act=70.4
This was the best reading in 3 years
Consumers expecting fewer jobs 6 months out: 15.4% vs 21.2% prev
Jobs are hard to find: 45.7% vs 47.0% Prev
17.3 % see incomes improving vs 13.8% see income dropping

The situation in the Middle East continues to be the main driving force in the commodity markets.
Energies rose 1.73%, grains fell 4.84% and metals fell 1.9%. (Gold +1.0% Silver +2.4% Copper -3.7% Platinum-2.8% Palladium -6.2%)

Spot WTI

Fears of a supply disruption and news that Somali pirates had killed 4 American helped push WTI crude close to the $100.00 mark
COMEX Copper

The metals saw two distinct themes: Safe haven buying in gold and silver and worries that the Middle Eastern situation may curtail economic growth hit the industrial metals


Weekly Corn

Grains were limit-down on the close on heavy fund selling as traders  moved from ags to energies. Traders are also scaling back longs before the USDA crop acreage forecast later in the week.


No comments:

Post a Comment

Blog Archive

Disclaimer

The contents of any third-party letters/reports above do not necessarily reflect the opinions or viewpoint of G. Scott Hinton. They are provided for informational/educational purposes only.All sites refered to or displayed on this blog are available to anyone free of charge. The content of any message or post by G. Scott Hinton anywhere on this site is not to be construed as constituting market or investment advice. Such is intended for educational purposes only. Individuals should always consult with their own advisors for specific investment advice. This information is not to be construed as an offer to sell or a solicitation or an offer to buy commodities herein named. The risk of trading futures and options can be substantial.