Natural Gas broke below $2 today, hitting a low of $1.976, before closing at $1.981. Year-to-date, Natural Gas is down 33.7%. Nat Gas is down 52% over the past year, slightly below Cotton’s 55% decline as the worst-performing major commodity. While these might seem like steep declines, it looks like there is no end in sight to Nat Gas’ declines.
In treasury markets, the 30-year bond and 10-year note yields rose slightly. EUR/USD rose slightly, though finished the day in the middle of its range near the 1.31 figure. USD/JPY closed the day near the 81 figure.
Tomorrow, earnings are ramping up with Commerce Bancshares (CBSH) and Rite Aid (RAD) before the bell. Google (GOOG) reports after the bell. Analysts expect GOOG to report earnings of $9.62 per share compared with $8.08 a year ago. In today’s trading, GOOG gained 1.5% to $635.96.
On Friday, JPMorgan (JPM) and Wells Fargo (WFC) report before the bell.