Market news
01.02.2011, 16:05

Dow +86.28 at 11978.21, Nasdaq +31.51 at 2731.59, S&P +13.71 at 1299.83

Precious metals have come under pressure in recent trade. They had been up with modest gains in the early going, but now gold is down with a 0.4% loss at $1328 per ounce and silver is off by 0.6% at $27.99 per ounce. Oil prices had swung from a morning low of $91.06 per barrel to a modest gain at $92.45 per barrel, but the energy component is now back in the red with a 0.2% loss at $92.00 per barrel. Natural gas prices are down 1.3% to $4.36 per MMBtu. Despite the appearance of widespread weakness in the commodity space, the CRB Commodity Index is only down fractionally after it surged 1.8% to a two-year high yesterday. Support has come from cotton, which is up 1.8% to $1.72 per pound, and coffee, which is up 1.3% to $2.48 per pound.

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