October 30th, 2012

Heating oil futures and gasoline retreated on Tuesday on expectations that demand for fuel will be sharply depressed in the aftermath of destructive Hurricane Sandy.

At least 7.3 million homes and businesses on the U.S. East Coast were without power after Sandy came ashore in New Jersey late on Monday, tearing down power lines and flooding electrical networks.

With the November futures contract expirations approaching on Wednesday, front-month RBOB gasoline fell 6.13 cents to $2.6955 a gallon by 10:05 a.m. EDT (1405 GMT), having dropped as low as $2.6916.

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October 31st, 2012

Dow Jones Futures – U.S. equity markets will open today after the longest weather-related shutdown in more than a century, resuming after the New York Stock Exchange was spared by Hurricane Sandy as it swept through New York Oct. 29.

The decision was announced in statements by NYSE Euronext, Nasdaq OMX Group Inc. (NDAQ) and Bats Global Markets Inc. The NYSE’s headquarters are running on backup power and will keep using it if necessary all week, Larry Leibowitz, the chief operating officer, said in a phone interview. Fixed-income trading, halted at noon Oct. 29, will also reopen, under a recommendation by the Securities Industry and Financial Markets Association. Trading was canceled for four straight days in the wake of the Sept. 11, 2001, terror attacks and the New York exchange shut for seven days in 1933 during President Franklin Delano Roosevelt’s bank holiday.

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October 31st, 2012

Oil futures rose, trimming the biggest monthly decline since May, as refineries started resuming operations after the Atlantic superstorm Sandy moved away from the U.S. East Coast.

West Texas Intermediate futures gained as much as 1.1 percent after advancing 0.2 percent yesterday. Philadelphia Energy Solutions’ 355,000 barrel-a-day Pennsylvania refinery is restoring operations and NuStar Energy LP (NS)’s 74,000 barrel-a-day plant in Paulsboro, New Jersey, will be at full production tomorrow, the companies said. Seven refineries with a total capacity of 1.29 million barrels a day had shut or reduced operations because of Sandy.

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Gold Drops to Lowest Level in a Week on U.S. Budget Negotiations

December 12, 2012

Gold futures declined to a one-week low as a rally to the highest level this month prompted some investors to sell the metal amid concern about the U.S. budget deadlock. Silver, platinum and palladium retreated.

Spot gold slumped as much as 1 percent to $1,694.35 an ounce, the lowest price since Dec. 7, and traded at $1,700.90 at 10:49 a.m. in Singapore. The metal climbed to $1,723.40 yesterday, the most expensive since Nov. 30, after the Federal Reserve said it will expand asset purchases. The rally was “modest” as additional Fed balance sheet expansion was already “priced in,” according to Goldman Sachs Group Inc.

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October 31st, 2012

S&P 500 Futures – U.S. stock-index futures advanced as equity markets in the world’s largest economy prepared to reopen after Hurricane Sandy caused the longest weather-related shutdown since 1888.

Home Depot Inc. (HD) and Lowe’s Cos. added at least 3.9 percent amid speculation the home-improvement retailers would be helped by spending related to the storm. General Motors Co. (GM) rallied 4.8 percent after reporting third-quarter profit that surpassed analysts’ estimates. Walt Disney Co. rose 2.7 percent after agreeing to buy George Lucas’s Lucasfilm Ltd. Opnet Technologies Inc. (OPNT) gained 29 percent after Riverbed Technology Inc. (RVBD) said Oct. 29 it agreed to buy the
software-products company.

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October 30th, 2012

Futures Trading – Hurricane Sandy’s economic toll is poised to exceed $20 billion after the biggest Atlantic storm slammed into the Eastern U.S., damaging homes and offices and flooding subways in America’s most populated city.

The total would include insured losses of about $7 billion to $8 billion, said Charles Watson, research and development director at Kinetic Analysis Corp., a hazard-research company in Silver Spring, Maryland. Much of the remaining tab will be picked up by cities and states to repair infrastructure, such as New York City’s subways and tunnels, he said.

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Firetip Futures Platform

On October 26, 2012, in Firetip Futures Platform, by Infinity Trading

October 26th, 2012

Firetip Trading Platform

Great executions start on your desktop. With the Firetip Trading Platform™ you’ve got the power and control to set up great trades quickly and execute them instantly:

Customize Firetip to your trading style – organize quotes, charts, news and tools across one monitor or more

Include one-of-a-kind tools like the Firetip trading matrix and depth-of-market window for on-the-fly analysis

Track your progress with order book, fills window and account details – fully integrated and updated in real time

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October 25th, 2012

Gold futures climbed the most in three weeks as Brazil and Turkey’s central banks increased holdings of the precious metal and amid signs that purchases are rising in India, the world’s biggest buyer.

Brazil added to its gold reserves for the first time since December 2008, and Turkey also raised its holdings, data on the International Monetary Fund’s website showed. India tends to buy more at this time of year because of jewelry demand for the wedding season and festivals. Prices fell below $1,700 an ounce yesterday for the first time since Sept. 7, which may have sparked some physical buying.

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October 26th, 2012

Oil futures headed for a second weekly loss on concern that economic growth won’t be strong enough to boost demand and alleviate an inventory glut.

Crude oil prices fell for the sixth time in seven sessions as U.S. gross domestic product grew at a 2 percent annual rate in the third quarter and Spanish unemployment climbed to a record. U.S. inventories rose to the highest level for this time of year. Gasoline gained for a second day on concern that Hurricane Sandy will disrupt East Coast refinery production.

“There are just considerable indications of slowing economic growth,” said John Kilduff, a partner at Again Capital LLC, a New York-based hedge fund that focuses on energy. “The GDP number is mediocre at best and 2 percent is nothing to write home about. The Spanish unemployment rate wasn’t a huge surprise but it was pretty despairing.”

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October 26th, 2012

S&P 500 Futures – U.S. stocks declined, with the Standard & Poor’s 500 Index on pace for a weekly decline, as investors watched economic and earnings reports.

Nine out of 10 groups in the S&P 500 (SPX) fell as financial and technology shares had the biggest losses. Apple Inc. (AAPL) tumbled 2.5 percent after forecasting earnings that fell short of analysts’ predictions. Goodyear Tire & Rubber Co. (GT), the largest U.S. tiremaker, dropped 9.2 percent after reporting a profit that was below estimates. CA Inc. (CA), a maker of software for managing information technology, declined 8.9 percent after cutting its fiscal 2013 revenue forecast.

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