Futures end mix as FED disappoints, Irene lurks

Posted by Mark Pszeniczny on Aug 26, 2011 3:53:00 PM

On Wednesday we suggested that todays market could be volatile as many investors were eagerly anticipating the FED chairman speech.  The consensus was that new measures would be put in place to spur growth.  It became clear early in the session that this was not going to happen and all pits sold off quickly and RBOB dropped as much as five cents.  Not to be outdone Crude was down over $2 as well.   However, as GDP numbers were released, the pits clawed their way back into positive ground.  GDP grew by only 1% for the second quarter, less than the expected 1.3%,  As the day wore on, pricing did not move all that much as it appeared many may have gotten out of Dodge ahead of Irene.  Currently it appears that the storm will hit the Northeast sometime Sunday as a hurricane and move rapidly through the Northeast over the course of the day, of course making a stop in Wilbraham, Ma.  With high winds and heavy flooding, power outages are expected.  Fear not folks, DKB world headquarters will be staffed and ready to assist.  At the close, Crude added.07 to $85.37, HEAT gained .0246 to $3.0101 and RBOB fell .0333 to $2.9346, while OCT RBOB only lost .0157.  Stay safe.

Heat map

RBOB CLOSE
                 CLOSE       CHANGE 
  
SEP    29346       -.0333
OCT    27860     -.0157
NOV    27358     -.0071
DEC   27141       -.0019
JAN    27120       -.0012
FEB    27191      -.0004
HEAT CLOSE
          CLOSE    CHANGE
SEP    30101    +.0246
OCT   30158     +.0226
NOV    30211      +.0220
DEC   30264     +.0216
JAN   30319      +.0205
FEB   30262      +.0189

Topics: Hurricane Irene, Bernanke

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