Daily global market review
In today's trading session, a prevailing negative bias shaped market dynamics as decliners outnumbered advancers by a significant margin of 7-to-3 on the New York Stock Exchange (NYSE), leading to a noteworthy 0.9% decline in the equal-weighted S&P 500. Notably, mega-cap stocks emerged as a stabilizing force for the major indices, experiencing support from safe-haven buying activity. The market landscape saw the Nasdaq Composite closing with a modest gain of 0.3%, while the S&P 500 registered a slight decline of 0.1%, and the Dow Jones Industrial Average exhibited a 0.2% decrease.
Market participants directed their attention towards mega-cap stocks amid renewed concerns regarding global economic growth, a trend that subsequently triggered a decrease in Treasury yields. Specifically, the 2-year note yield observed a decline of nine basis points, settling at 4.56%, while the 10-year note yield experienced a notable 10 basis points reduction, reaching 4.18%. The catalysts for these market movements included a Moody's downgrade of China's credit outlook to Negative from Stable. This downgrade was influenced, in part, by apprehensions about structurally weaker growth prospects. Additionally, concerns heightened due to the October Job Openings and Labor Turnover Survey (JOLTS) report, revealing the lowest number of job openings (8.733 million) since March 2021.
Despite a marginal increase in the Institute for Supply Management (ISM) Non-Manufacturing Index for November, signifying a reading of 52.7% compared to the previous 51.8%, market retreat was observed across various sectors. Notably, eight out of the 11 S&P 500 sectors recorded declines. In a manifestation of growth concerns, small-cap stocks underperformed their larger counterparts, with the Russell 2000 closing with a notable 1.4% decline.
Reviewing the day's economic data, the S&P Global US Services Purchasing Managers' Index (PMI) for November concluded at a final reading of 50.8, slightly surpassing the prior month's 50.6. Moreover, the October JOLTS report indicated a total of 8.773 million job openings, revealing a revision from the previous figure of 9.350 million.
Amid these market dynamics, the 10-year Treasury note experienced a notable increase of +28/32, resulting in a yield of 4.18%. The NYSE witnessed 843 advancing issues and 1945 declining issues, with a trading volume of 910 million. Meanwhile, the Nasdaq reported 1432 advancing issues, 2846 declining issues, and a substantial trading volume of 6.2 billion.
In terms of industry performance, notable strength was observed in Information Technology, Consumer Discretionary, and Communication Services. Conversely, weakness was evident in Energy, Materials, Utilities, Financials, Real Estate, and Industrials. The market was influenced by key factors, including China's credit outlook downgrade, the decline in Treasury yields, a rebound in mega-cap stocks, and reactions to the morning's economic data.
In the United States, stock indices experienced varied movements. The Dow registered a price of 36,124.56, reflecting a slight decline of 0.22%, with a change of -79.88. The S&P 500 showed a marginal decrease of 0.06%, with a price of 4,567.18 and a change of -2.60. Conversely, the NASDAQ exhibited a positive trend, gaining 0.31% and reaching a price of 14,229.91, accompanied by a change of +44.42. The VIX, indicating market volatility, recorded a decrease of 1.76%, with a price of 12.85 and a change of -0.23. The Russell 2000, representing small-cap stocks, saw a decline of 1.38%, with a price of 1,856.04 and a change of -25.98. In Canada, both the S&P/TSX Composite and S&P/TSX 60 experienced marginal changes of 0.17% and 0.02%, respectively.
Moving to South America, Brazil's BOVESPA showed a slight increase of 0.08%, with a price of 126,903.25 and a change of +100.46. In Chile, the S&P IPSA surged by 1.41%, reaching a price of 5,905.31, accompanied by a change of +81.95. Meanwhile, in Mexico, the S&P/BMV IPC displayed a minor increase of 0.12%, with a price of 54,120.91 and a change of +67.28.
In Europe, indices reflected diverse movements. The STOXX Europe 50 increased by 0.37%, with a price of 4,034.49 and a change of +15.04. The STOXX Europe 600 rose by 0.40%, recording a price of 467.62 and a change of +1.84. In the United Kingdom, the FTSE 250 and FTSE 100 exhibited changes of 0.69% and 0.31%, respectively. The FTSE 250 reached a price of 18,487.53, with a change of +126.28, while the FTSE 100 showed a price of 7,489.84, accompanied by a change of -23.12. Germany's DAX increased by 0.78%, reaching a price of 16,533.11, with a change of +128.35. Italy's FTSE MIB and France's CAC 40 saw changes of 0.56% and 0.74%, respectively. The FTSE MIB recorded a price of 30,082.88, with a change of +168.79, while the CAC 40 showed a price of 7,386.99, accompanied by a change of +54.40. Switzerland's SMI experienced a minor change of 0.11%, with a price of 10,964.81 and a change of +12.37.
In Asia, the Nikkei 225 recorded a price of 32,775.82, while the S&P/ASX 200 reached 7,061.60. However, other Asian markets faced declines. The Hang Seng in Hong Kong dropped by 1.91%, with a price of 16,327.86 and a change of -318.19. China's Shanghai Composite and Shenzhen Composite decreased by 1.67% and 1.97%, respectively. The Shanghai Composite recorded a price of 2,972.30, with a change of -50.62, while the Shenzhen Composite reached 9,470.36, accompanied by a change of -190.08. South Korea's KOSPI showed a decrease of 0.82%, with a price of 2,494.28 and a change of -20.67. Taiwan's Taiwan SE experienced a decline of 0.54%, reaching a price of 17,328.01, with a change of -93.47. Lastly, India's Bombay Sensex exhibited a positive trend, rising by 0.63%, with a price of 69,296.14 and a change of +431.02. These global market movements indicate a dynamic and diverse landscape with various factors influencing each region's indices.
On the 5th of December, the BSE MidCap index concluded at 35,049.27, registering a minimal increase of 0.14%, equivalent to a gain of 49.51 points. The index recorded fluctuations between the high of 35,216.47 and the low of 34,798.06. Simultaneously, the BSE Sensex marked a moderate rise, closing at 69,296.14, reflecting a 0.63% increase and a gain of 431.02 points. The high and low for the BSE Sensex were reported at 69,381.31 and 68,954.88.
In the SmallCap category, the BSE SmallCap index reported a closing value of 41,099.21, depicting a slight increase of 0.12% and a gain of 48.20 points. The index moved between the high of 41,317.67 and the low of 40,825.66. Meanwhile, the India VIX, indicating market volatility, experienced a 3.58% increase, closing at 13.4575, with the high and low reported at 13.8825 and 11.4750.
Transitioning to NSE indices, the NIFTY Midcap 100 index concluded at 44,122.90, showing a 0.47% increase and a gain of 204.30 points. The index fluctuated between the high of 44,187.95 and the low of 43,661.10. Similarly, the NIFTY Smallcap 100 closed at 14,453.55, marking a marginal 0.11% increase with a gain of 15.85 points, and the high and low were noted at 14,547.15 and 14,335.75. Additionally, the Nifty smallcap 50 index recorded a closing value of 6,716.50, indicating a 0.27% increase and a gain of 18.00 points, with the high and low reported at 6,758.50 and 6,656.40.
Among the broader market indices, the Nifty 100 exhibited a modest performance, closing at 20,949.25, reflecting a 0.92% increase and a gain of 191.30 points. The index moved between the high of 20,957.65 and the low of 20,783.60. The Nifty 200 recorded a closing value of 11,275.95, showing a 0.85% increase with a gain of 95.20 points, and fluctuated between the high of 11,280.30 and the low of 11,192.25. Additionally, the Nifty 50 concluded at 20,855.10, marking a 0.81% increase and a gain of 168.30 points, with the high and low reported at 20,864.05 and 20,711.15.
In the international context, the Nifty 50 USD index experienced a 0.79% increase, closing at 8,666.30, with no significant fluctuations during the day. Meanwhile, the Nifty 50 Value 20 index ended at 10,955.40, showing a marginal 0.11% increase and a gain of 12.35 points, fluctuating between the high of 10,981.55 and the low of 10,880.70.
The broader Nifty 500 index concluded at 18,588.55, marking a 0.76% increase and a gain of 140.05 points, with the high and low at 18,594.90 and 18,453.65. Moving to the midcap segment, the Nifty Midcap 150 closed at 16,364.10, reflecting a 0.38% increase and a gain of 61.65 points, with the high and low reported at 16,392.75 and 16,214.40. Additionally, the Nifty Midcap 50 ended the day at 12,508.05, showing a 0.35% increase and a gain of 43.60 points, fluctuating between the high of 12,551.45 and the low of 12,366.10.
In the category of Nifty Next 50, the index concluded at 49,937.35, marking a 1.04% increase and a gain of 512.55 points, with the high and low reported at 49,956.60 and 49,405.70. The Nifty Smallcap 250 recorded a closing value of 13,509.05, showing a marginal 0.15% increase and a gain of 20.00 points, with the high and low at 13,594.40 and 13,415.65.
Shifting to BSE indices, the S&P BSE ALLCAP closed at 8,552.71, reflecting a 0.74% increase and a gain of 62.43 points, with fluctuations between the high of 8,555.87 and the low of 8,491.91. The S&P BSE-100 concluded at 21,441.06, indicating a 0.79% increase and a gain of 167.84 points, with the high and low reported at 21,451.11 and 21,303.63. The S&P BSE-200 closed at 9,218.57, showing a 0.86% increase and a gain of 78.84 points, fluctuating between the high of 9,222.74 and the low of 9,152.00. Lastly, the S&P BSE-500 ended at 29,393.89, marking a 0.79% increase and a gain of 229.01 points, with the high and low at 29,405.48 and 29,184.09.
As of the latest update on December 5 at 4:51:47 PM ET, the Nasdaq Crypto Index stands at 2,400.05, reflecting a positive change of 98.84 points and a percentage increase of 4.30%. In the cryptocurrency market, Bitcoin is priced at 44,107.00, experiencing a positive change of 2,156.00 points, indicating a 5.14% rise. Ether follows at 2,279.30 with a change of 38.70 points, resulting in a 1.73% increase. Litecoin and XRP also exhibit minor changes of 0.26 points (0.36%) and -0.00 points (0.53%), respectively.
Moving on to currency exchange rates, the Euro to US Dollar pair is valued at 1.0798, showcasing a change of -0.00 and a 0.35% decrease. The British Pound to US Dollar pair stands at 1.2596, with a change of -0.00 and a 0.28% decrease. Meanwhile, the US Dollar to Canadian Dollar pair is at 1.3592, with a positive change of 0.01 and a 0.41% increase. The US Dollar to Swiss Franc pair is quoted at 0.8750, reflecting a change of 0.00 and a 0.26% increase. The US Dollar to Japanese Yen pair is at 147.1625, experiencing a change of -0.01 and a minimal 0.01% decrease. All currency rates were last updated on December 5 at 4:51:52 PM ET.
In the realm of bonds and rates, the yield changes for various Treasury durations are as follows: the 3 Month Treasury yield is at 5.218% with a change of -0.010, the 2 Year Treasury yield is at 4.558% with a change of -0.067, the 5 Year Treasury yield is at 4.140% with a change of -0.073, the 10 Year Treasury yield is at 4.173% with a change of -0.089, and the 30 Year Treasury yield is at 4.297% with a change of -0.123. These figures provide insights into the current state of cryptocurrency markets, currency exchange rates, and bond yields, assisting investors in making informed decisions.
In the market overview, a slight downturn was observed in various commodity indices. The Bloomberg Commodity index saw a decrease of 0.41% to 227.75, the UBS Bloomberg CMCI dropped by 0.74% to 1,496.61, the Reuters/Jefferies CRB declined by 0.47% to 303.18, Rogers International fell by 0.64% to 3,634.46, and the S&P GSCI experienced a 0.99% decrease to 3,383.89 on December 4th.
In the energy sector, WTI Crude Oil (Nymex) recorded a price of USD 72.51 per barrel with a 0.73% decrease for the Jan 2024 contract. Brent Crude (ICE) stood at USD 77.35 per barrel with an 0.87% decline for the Feb 2024 contract. RBOB Gasoline (Nymex) was at 211.40 USd/gal. with a 0.95% decrease for the Jan 2024 contract. Natural Gas (Nymex) recorded USD 2.71 per MMBtu with a 0.56% increase for the Jan 2024 contract. Heating Oil (Nymex) was at 263.40 USd/gal. with a 0.97% decrease for the Jan 2024 contract.
In the precious and industrial metals category, Gold (Comex) showed a price of USD 2,037.70 per t oz. with a 0.22% decrease for the Feb 2024 contract. Silver (Comex) stood at USD 24.51 per t oz. with a 1.61% decrease for the Mar 2024 contract. Copper (Comex) recorded 378.50 USd/lb. with a 1.32% decrease for the Mar 2024 contract. Platinum Spot was at USD 902.59 per t oz. with a 2.04% decrease.
In the agriculture sector, Corn (CBOT) rose to 490.25 USd/bu. with a 0.98% increase for the Mar 2024 contract. Wheat (CBOT) increased to 630.00 USd/bu. with a 1.53% increase for the Mar 2024 contract. Cocoa (ICE) decreased to 4,106.00 USD/MT with a 1.56% decrease for the Mar 2024 contract. Cotton #2 (ICE) rose to 79.68 USd/lb. with a 1.27% increase for the Mar 2024 contract. Live Cattle (CME) reached 168.63 USd/lb. with a 0.93% increase for the Feb 2024 contract.
On Wednesday, December 6, 2023, several economic indicators are set to be released. At 7:00 AM EST, the MBA Mortgage Applications report will provide information on refinancing activities, composite indices, and purchase indices. Following that, at 8:15 AM EST, the ADP Employment Report will focus on changes in private payrolls. At 8:30 AM EST, high-impact data will be released with the International Trade in Goods and Services report disclosing the trade balance. Concurrently, the Productivity and Costs report will cover annual rates of nonfarm productivity and unit labor costs. Finally, at 10:30 AM EST, the EIA Petroleum Status Report will reveal week-to-week changes in distillate inventories, gasoline inventories, and crude oil inventories. These reports offer insights into various aspects of the economy, including housing, employment, international trade, productivity, and the energy sector, aiding analysts and policymakers in assessing economic conditions.
Previous update:
Following some initial fluctuation in prices, major indices largely adhered to narrow trading ranges for the majority of the session. Notably, the performance of mega caps and semiconductor stocks exerted considerable downward pressure on the indices, with NVIDIA (NVDA) experiencing a 2.7% decline and influencing the Vanguard Mega Cap Growth ETF (MGK), which fell by 1.1%, and the PHLX Semiconductor Index, which dropped by 1.2%. The S&P 500, weighted by market capitalization, closed with a 0.5% loss, while the equal-weighted S&P 500 managed a modest 0.1% gain.
Amidst this, funds flowed into alternative stocks, providing some counterbalancing support to the broader market. Airlines saw notable gains following news of Alaska Air (ALK) planning to acquire Hawaiian Holdings (HA), propelling the US Global Jets ETF (JETS) up by 4.2%. Additionally, banks, retailers, and homebuilders demonstrated relative strength, with the SPDR S&P Bank ETF (KBE) surging by 1.2%, the SPDR S&P Retailer ETF (XRT) rising by 1.1%, and the SPDR S&P Homebuilder ETF (XHB) climbing by 0.7%.
Crypto-related stocks also experienced strength, benefitting from the recent surge in cryptocurrency prices. Bitcoin, at $40,632, and Ethereum, at $2,228.75, contributed to Coinbase Global (COIN) surging by more than 5.0%. However, the market faced constraints from rising Treasury yields and losses in mega-cap and semiconductor shares. The 2-year note yield rose nine basis points to 4.65%, and the 10-year note yield increased by six basis points to 4.29%.
In a separate development, gold futures settled $47.50 lower (-2.3%) at $2,042.20/oz, retracing from overnight all-time highs above $2,100/oz, possibly due to profit-taking activity. Examining today's economic data, the October Factory Orders reported a 3.6% decline, surpassing the consensus estimate of -2.6%. This marks the most significant month-over-month contraction since April 2020, with a notable downward revision to September figures. Looking ahead, Tuesday's economic data includes the final November S&P Global US Services PMI at 9:45 ET and the November ISM Non-Manufacturing PMI at 10:00 ET.
The stock market's performance was influenced by rising Treasury yields, profit-taking activities in mega-cap stocks, the strength in airline stocks post-Alaska Air and Hawaiian Holdings deal, and resilience in other discretionary sectors like retailers and homebuilders. In terms of market breadth, utilities, real estate, health care, and consumer staples exhibited strength, while communication services, information technology, materials, consumer discretionary, and energy were on the weaker side.
In the United States, the Dow recorded a slight increase of 0.11%, closing at 36,204.44, while the S&P 500 experienced a 0.54% decline, finishing at 4,569.78. The NASDAQ also saw a decrease of 0.84%, closing at 14,185.49. The VIX, reflecting market volatility, rose by 3.56%, reaching 13.08. The Russell 2000, representing small-cap stocks, demonstrated a positive trend with a gain of 1.04%, closing at 1,882.02. In Canada, the S&P/TSX Composite declined by 0.21%, closing at 20,410.21, while the S&P/TSX 60 had a marginal decrease of 0.07%, closing at 1,230.52. In Brazil, the BOVESPA index recorded a 1.08% decline, closing at 126,802.79. In Chile, the S&P IPSA decreased by 1.08%, closing at 5,823.36, and in Mexico, the S&P/BMV IPC increased by 0.28%, closing at 54,053.63.
In Europe, the STOXX Europe 50 closed at 4,019.45, while the STOXX Europe 600 had a slight decline of 0.09%, closing at 465.78. In the United Kingdom, the FTSE 250 decreased by 0.26%, closing at 18,361.25, and the FTSE 100 had a 0.22% decline, closing at 7,512.96. In Germany, the DAX increased marginally by 0.04%, closing at 16,404.76. Italy's FTSE MIB and France's CAC 40 both saw minimal declines of 0.05% and 0.18%, closing at 29,914.09 and 7,332.59, respectively. Switzerland's SMI, however, experienced a positive trend with a 0.60% increase, closing at 10,952.44.
In Asia, the Nikkei 225 in Japan remained unchanged at 33,231.27, while Hong Kong's Hang Seng recorded a 1.09% decrease, closing at 16,646.05. The Shanghai Composite in China saw a 0.29% decline, closing at 3,022.91, and the Shenzhen Composite had a 0.62% decrease, closing at 9,660.44. Australia's S&P/ASX 200 closed at 7,124.70. South Korea's KOSPI increased by 0.40%, closing at 2,514.95, and Taiwan's SE declined by 0.10%, closing at 17,421.48. In India, the Bombay Sensex recorded a notable gain of 2.05%, closing at 68,865.12.
On the 4th of December, the BSE MidCap index concluded at 34,999.76, exhibiting a significant increase of 1.19%, corresponding to a gain of 413.00 points. The index oscillated between the high of 35,124.23 and the low of 34,840.45. Simultaneously, the BSE Sensex marked a substantial surge, closing at 68,865.12 with a notable 2.05% increase, reflecting a gain of 1383.93 points. The high and low for the BSE Sensex were reported at 68,918.22 and 68,274.47.
In the SmallCap category, the BSE SmallCap index reported a closing value of 41,051.01, depicting a 1.20% increase and a gain of 485.05 points. The index moved between the high of 41,221.91 and the low of 40,901.69. Meanwhile, the India VIX, indicating market volatility, experienced a 4.93% increase, closing at 12.9925, with the high and low reported at 13.1600 and 11.3400.
Transitioning to NSE indices, the NIFTY Midcap 100 index concluded at 43,918.60, showing a 1.24% increase and a gain of 536.20 points. The index fluctuated between the high of 44,148.90 and the low of 43,727.95. Similarly, the NIFTY Smallcap 100 closed at 14,437.70, marking a 1.39% increase with a gain of 198.40 points, and the high and low were noted at 14,514.90 and 14,360.95. Additionally, the Nifty smallcap 50 index recorded a closing value of 6,698.50, indicating a 1.72% increase and a gain of 113.35 points, with the high and low reported at 6,715.60 and 6,648.05.
Among the broader market indices, the Nifty 100 exhibited a robust performance, closing at 20,757.95, reflecting a 2.06% increase and a gain of 418.50 points. The index moved between the high of 20,773.70 and the low of 20,586.75. The Nifty 200 recorded a closing value of 11,180.75, showing a 1.93% increase with a gain of 211.75 points, and fluctuated between the high of 11,189.05 and the low of 11,095.70. Additionally, the Nifty 50 concluded at 20,686.80, marking a 2.07% increase and a gain of 418.90 points, with the high and low reported at 20,702.65 and 20,507.75.
In the international context, the Nifty 50 USD index experienced a 1.98% increase, closing at 8,598.43, with no significant fluctuations during the day. Meanwhile, the Nifty 50 Value 20 index ended at 10,943.05, showing a 1.04% increase and a gain of 113.15 points, fluctuating between the high of 10,960.05 and the low of 10,905.80.
The broader Nifty 500 index concluded at 18,448.50, marking a 1.84% increase and a gain of 333.15 points, with the high and low at 18,460.00 and 18,315.45. Moving to the midcap segment, the Nifty Midcap 150 closed at 16,302.45, reflecting a 1.23% increase and a gain of 197.65 points, with the high and low reported at 16,370.80 and 16,223.20. Additionally, the Nifty Midcap 50 ended the day at 12,464.45, showing a 1.05% increase and a gain of 129.95 points, fluctuating between the high of 12,519.60 and the low of 12,412.90.
In the category of Nifty Next 50, the index concluded at 49,424.80, marking a 1.94% increase and a gain of 938.40 points, with the high and low reported at 49,473.10 and 49,071.40. The Nifty Smallcap 250 recorded a closing value of 13,489.05, showing a 1.22% increase and a gain of 162.45 points, with the high and low at 13,569.20 and 13,439.05.
Shifting to BSE indices, the S&P BSE ALLCAP closed at 8,490.28, reflecting a 1.80% increase and a gain of 149.85 points, with fluctuations between the high of 8,495.52 and the low of 8,433.96. The S&P BSE-100 concluded at 21,273.22, indicating a 2.00% increase and a gain of 417.53 points, with the high and low reported at 21,287.24 and 21,099.95. The S&P BSE-200 closed at 9,139.73, showing a 1.92% increase and a gain of 171.84 points, fluctuating between the high of 9,146.11 and the low of 9,073.14. Lastly, the S&P BSE-500 ended at 29,164.88, marking a 1.84% increase and a gain of 525.66 points, with the high and low at 29,182.92 and 28,960.84.
In the realm of cryptocurrencies, the Nasdaq Crypto Index surged by 7.91%, reaching 2,306.89, with Bitcoin demonstrating a 4.96% increase and closing at 42,012.00. Ether experienced a modest gain of 1.77%, closing at 2,234.30, while Litecoin showed a marginal decline of 0.36%, closing at 72.05. XRP had a minimal decrease of 0.10%, closing at 0.62. These cryptocurrency values were last updated on December 4 at 5:08:30 PM ET.
Turning to currency exchange rates, the Euro to US Dollar pair had a decrease of 0.01%, closing at 1.0832, and the British Pound to US Dollar pair recorded a 0.01% decrease, closing at 1.2630. The US Dollar to Canadian Dollar pair saw a 0.28% increase, closing at 1.3538, while the US Dollar to Swiss Franc pair had a 0.32% increase, closing at 0.8726. The US Dollar to Japanese Yen pair closed at 147.1710 with a 0.42% increase. These currency rates were last updated on December 4 at 5:08:38 PM ET.
In the domain of bonds and rates, the 3 Month Treasury yield stood at 5.213% with a minimal decrease of 0.010, while the 2 Year Treasury yield showed a significant increase of 0.091, closing at 4.646%. The 5 Year Treasury yield increased by 0.080, reaching 4.222%, and the 10 Year Treasury yield recorded a slight increase of 0.036, closing at 4.257%. The 30 Year Treasury yield saw a minimal increase of 0.004, closing at 4.410%.
In the current market overview, the Bloomberg Commodity Index (BCOMTR:IND) experienced a decline of 3.28 points, or 1.41%, closing at 228.68. Similarly, the UBS Bloomberg CMCI (CMCITR:IND) saw a decrease of 12.25 points, or 0.81%, settling at 1,507.76. The Reuters/Jefferies CRB (CRYTR:IND) index dropped by 3.46 points, or 1.12%, concluding at 304.61. The Rogers International (RICIGLTR:IND) index declined by 42.63 points, or 1.15%, closing at 3,653.54. Additionally, the S&P GSCI (SPGSCITR:IND) experienced a decrease of 43.48 points, or 1.26%, ending at 3,417.63 as of December 1, 2023.
Moving to the energy sector, WTI Crude Oil (CL1:COM) saw a decline of 0.77 USD/bbl., or 1.04%, closing at 73.30, while Brent Crude (CO1:COM) dropped by 0.66 USD/bbl., or 0.84%, finishing at 78.22. RBOB Gasoline (XB1:COM) exhibited an increase of 2.48 USd/gal., or 1.17%, settling at 214.59. Conversely, Natural Gas (NG1:COM) experienced a decrease of 0.11 USD/MMBtu, or 3.91%, closing at 2.70. Heating Oil (HO1:COM) saw an increase of 0.57 USd/gal., or 0.21%, ending at 266.72.
In the Precious and Industrial Metals category, Gold (GC1:COM) on Comex dropped by 41.30 USD/t oz., or 1.98%, concluding at 2,048.40 for the Feb 2024 contract. Gold Spot (XAUUSD:CUR) exhibited a decrease of 43.07 USD/t oz., or 2.08%, closing at 2,029.15. Silver (SI1:COM) on Comex saw a decline of 0.96 USD/t oz., or 3.72%, closing at 24.90 for the Mar 2024 contract. Copper (HG1:COM) on Comex experienced a decrease of 10.65 USd/lb., or 2.71%, concluding at 382.50 for the Mar 2024 contract. Platinum Spot (XPTUSD:CUR) dropped by 15.75 USD/t oz., or 1.68%, finishing at 921.40.
Lastly, in the Agriculture sector, Corn (C 1:COM) on CBOT increased by 0.25 USd/bu., or 0.05%, closing at 485.00 for the Mar 2024 contract. Wheat (W 1:COM) on CBOT exhibited an increase of 15.50 USd/bu., or 2.57%, concluding at 618.25 for the Mar 2024 contract. Cocoa (CC1:COM) on ICE saw a decrease of 30.00 USD/MT, or 0.71%, closing at 4,171.00 for the Mar 2024 contract. Cotton #2 (CT1:COM) on ICE dropped by 0.74 USd/lb., or 0.93%, finishing at 78.68 for the Mar 2024 contract. Live Cattle (LC1:COM) on CME experienced a decline of 2.27 USd/lb., or 1.35%, concluding at 166.85 for the Feb 2024 contract.