Futures end mix as FED disappoints, Irene lurks
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.