An extension of U.S. agriculture subsidies to late January was rebuffed by Senate Democrats, who said they won’t pass any plan sent to them by the House before the members leave Washington late this week.
Word that the Citgo Lamont Refinery was listing raised fear in the broader RBOB futures market that that refinery could be down for many months. Today is Fed day and I am talking about supply and demand and not about the Fed!
We have a difficult enough time analyzing markets using the normal elements of supply/demand, economic data and corporate reports without having to try to determine what effect geopolitical events play. Now markets are waiting on Syria.
A false report of explosions at the White House that wiped out $136 billion from the Standard & Poor’s 500 Index in about two minutes highlighted the risks of the computerized trading that dominates the $18 trillion market.