In my opinion today may be a great day to pick a top in equity indices after an irrational rally this past week. I would hold a position for a mid-term fall in the EUR/USD and S&P 500 index futures.
WTI crude futures erased some of yesterday’s gains by falling $1.45 to $91.21 after easing geopolitical concerns. Gold continues on its annual rise by gaining $4.10 to $1584.50.
Soybean futures continued to go parabolic by rising another 25.40 cents this morning on drought concerns.
Archer Daniels Midland Co. (ADM) lost .99% after seeing higher costs associated with grains prices.
Kayak (KYAK) rose over $5 this morning after its IPO price of $26.
SanDisk Corp (SNDK) gained over 13% after reporting weak earnings, but growing demand for the second half of the year.
David Cornes holds a degree in economics from the University of Montana.