Today's Futures Analysis summary

The U.S. Treasury markets finished the trading session lower as a rumor broke that the bank stress test results that are to be released tomorrow will show that the majority of U.S. banks have sufficient capital. This rumor diminished the need to buy Treasuries for safety.

Equity futures had a volatile day as three different news events triggered choppy two-sided trading. Despite the wild price swings, the indices managed to finish the day on the plus side. Trading could once again become volatile tomorrow as investors may chose to square their positions ahead of the release of the bank stress test results tomorrow and the U.S. Non-Farm Payrolls Report on Friday.

The U.S. Dollar had a choppy two-sided trade on Wednesday before finishing mostly lower. The focus will be on the June Euro tomorrow as the European Central Bank is set to release news of its latest interest rate cut.

June Gold has been trading higher this week although rallies have been limited. Investors are mixed as to why they are buying gold at this time. Some are buying in anticipation of inflation because of the massive amount of debt that has been created by the Treasury. Others are hedging against serious banking issues after the release of the Fed’s bank stress test results late Thursday.

June Crude Oil closed above $56.00 as a better than expected gasoline inventory report showed a smaller decrease than forecast. News that OPEC wants oil at $70 per barrel is leading to speculation that they will cut production again.

Grains have been trading firm this week led by the new bull market in soybeans. July Soybeans reached the $11.00 price driven by production problems in South America and increased demand for U.S. soybeans from China. The rally in July Corn may start again as rain is forecast for key growing areas. Farmers are struggling to get their crop in the ground.

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