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June Gold making a move

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Equity futures are trading lower this morning with S&P futures trading lower by 10 points, NASDAQ futures are limit down and are off 42 points and Dow futures are sinking by 53 points. Fair value for the S&P 500 today is $3.82. Computers are set for program buying at $5.42 and set for selling at $2.42.

June Gold futures making a move

Back on April 17th we profile shares of Barrick Gold (NYSE:ABX) as a stock for bullish traders to consider as the technicals of this stocks looked compelling for an upside move from the $15.66 level. Since then, shares of ABX have traded as high as $17.10 and finished yesterday's session at $16.51. This morning we're noticing a jump in the June Gold futures Contract (GC01M) at 269. Yesterday's productivity report showed some slowing in productivity here in the U.S. and this morning's move in gold futures might be a sign of some inflation nerves getting a little jittery.

Bond YIELDS mixed

Bond YIELDS across the three major maturities are mixed this morning with the YIELDS on the 30-year and 10-year ticking higher. Current YIELD on the 30-year is at 5.740% and YIELD on the 10-year stands at 5.222%. The 5-year YIELD is lower at 4.653% and this mixed result from the bond market gives hint that many participants may be betting on yet another rate cut coming from the Fed in the near-term.

Jeff Bailey
Senior Market Technician
www.PremierMarkets.com

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