A small fire broke out on the 5th floor of the Chicago Board of Trade building early Thursday morning. The fire was quickly extinguished and all markets are expected to open at their regular time according to a spokesperson for CME Group. The fire did affect some electrical systems putting the wall boards in the grain room out of commission for a time. A member who works on the floor said that he heard the CBOT may have to bring out the old chalkboards for a time but the spokesperson said that they expect the boards to be up and running by the 9:30 grain opening.
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Financials
Fed’s Dudley says labor market slowdown would tilt to easing
Federal Reserve Bank of New York President William C. Dudley said he would favor additional easing if the labor market falters or risks to growth were to rise substantially.
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ETFs
ProShares launches ETF that targets highly rated corporate bonds
The ETF invests in covered bonds, a type of collateralized corporate debt typically issued by non-U.S. financial institutions.
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Forex
Euro falls to 22-month low as German business confidence slides
The euro traded close to the weakest level since July 2010 versus the dollar as German business confidence slid and manufacturing shrank, stoking concern fallout from the debt crisis is spreading.
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Options
Crude options volatility rises as futures near $90 a barrel
Crude-oil options volatility rose for the first time in three days as underlying futures slipped below $90 a barrel.
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