Last week the Dec. E-mini S&P 500 opened at 1767.00 and closed the week making new highs along the way at 1793.50. No close yet above 1800. Now I agree that PE ratios do look goods, so why does it seem that tapering talk spooks the market, or does it?
Hedge funds cut bullish gold bets, adding the most short contracts in four weeks, as U.S. economic growth fuels speculation the Federal Reserve will trim stimulus. Holdings across commodities dropped the most since April.
With all of the hot air floating around Washington, D.C., we saw natural gas drop from $3.800 MMBtu in mid-September to test the waters below $3.500 for one day, Sept. 26. Last week November natural gas opened at $3.755 and closed the week at $3.589.
Hedge funds’ combined holdings in gold futures rose the most this month as continued U.S. monetary stimulus spurred investors to sell short contracts and sent prices toward the first quarterly advance in a year.
Speculators got less bullish on gold, selling long contracts at the fastest pace this year as prices fell the most in almost three months on prospects for less central-bank stimulus. Goldman Sachs Group Inc. said the retreat has further to go.