More from Infinity
Start Trading Today!
1-888-456-8090
itc@infinitytrading.com
1-888-456-8090
itc@infinitytrading.com
© 2012 Infinity Trading Corp
April 30th, 2012
S&P 500 Futures – The Standard & Poor’s 500 Index (SPX) declined, halting a four-month advance, after a report showed that business activity expanded at the slowest pace since November 2009 and Spain’s economy entered into a recession.
Bank of America Corp., Caterpillar Inc. (CAT) and Monsanto Co. (MON) retreated at least 1.7 percent. Humana Inc. (HUM) tumbled 8.1 percent as profit at the provider of U.S.-backed Medicare insurance missed analysts’ projections. NYSE Euronext (NYX) slumped 4.9 percent amid a 44 percent decline in earnings. Barnes & Noble Inc. soared a record 52 percent after Microsoft Corp. (MSFT) said it plans to invest $300 million in a venture with the bookstore chain.
Continue reading »
April 30th, 2012
Unleaded gasoline capped the first monthly drop since November as reports showing weakness in Europe’s economy added to concern that global demand will slow.
Gasoline futures fell with crude, which declined for the first time in seven days, after Spain’s gross domestic product dropped in the first quarter and Italy’s inflation remained at a six-month high. The euro weakened against the dollar, reducing the appeal of commodities as an investment alternative.
“Gasoline is being dragged down by crude oil prices,” said Andy Lipow, president of Lipow Oil Associates LLC in Houston. “There’s quite a bit of concern about Spain and Italy. The anticipation is that the economies there will slow and reduce oil demand.”
Continue reading »
April 12th, 2012
Gasoline Futures – New York gasoline strengthened as European prices rose for the fuel and after imports to the U.S. East Coast declined.
Eurobob gasoline for loading in Amsterdam-Rotterdam-Antwerp traded from $1,158 to $1,174 a metric ton, according to a survey of brokers and traders monitoring the Argus Bulletin Board. That’s up from $1,148 to $1,160 yesterday. Gasoline imports to the East Coast fell 33 percent to 506,000 barrels a day last week, according to the Energy Department.
The discount for conventional gasoline to be blended with ethanol, or CBOB, in New York Harbor narrowed 1 cent to 1.25 cents a gallon versus futures traded on the New York Mercantile Exchange at 11:48 a.m., according to data compiled by Bloomberg. Prompt delivery rose 5.52 cents to $3.3282 a gallon.
Continue reading »
March 30th, 2012
Gasoline had its biggest quarterly gain in a year on speculation that refinery closures and seasonal repairs will trim supply of summer-grade fuel in the eastern U.S. at a time when demand typically rises.
Gasoline futures slipped today as traders settled positions in the April contract, which expired at the end of floor trading. Gasoline has increased 26 percent this year, the most of any contract in the Standard & Poor’s GSCI index of 24 commodities.
“As expiration unfolds you have to keep an eye out for what side of the market tips the scales,” said Gene McGillian, an analyst and broker at Tradition Energy in Stamford, Connecticut. “It looks as if some longs are finally bailing and that is why gasoline has dipped.”
Continue reading »