COMMODITIES DAYBOOK: Natural Gas Rebounds From Six-Week Low
Natural gas futures rebounded from a six-week low in New York on forecasts for a smaller-than-normal stockpile increase in a government report this week. Wheat futures fell for a third straight session while corn fell.
WHAT TO WATCH: (ALL TIMES NEW YORK) 4 a.m. LME Stockpiles 10:30 a.m. DOE Weekly U.S. Petroleum Inventories 2:00 p.m. USDA Cattle, Hog Slaughter 3:00 p.m. USDA Broiler Eggs Set TOP STORIES Crude Oil Snaps Two-Day Drop as U.S. Retail Sales Beat Forecasts Natural Gas Futures Rebound From Six-Week Low on Inventory View Wheat Futures Drop on Reduced Demand; Corn, Soybeans Decline Coffee Falls on Brazil Supplies; Sugar Drops; Cocoa, Cotton Gain Gold Drops for Second Day as U.S. Sales Data Damps Stimulus Bets Copper Advances as U.S., German Economic Data Boost Outlook Feeder-Cattle Futures Jump to Five-Week High; Hogs Prices Gain Heating Oil Rises as Inventories Decline While Demand Picks Up ON THE FRONT PAGES Jordan First-Half Spending on Oil, Energy Rises 31%, Petra Says Sinopec May Spend $1 Billion on U.S. Coal-Gas Project, WSJ Says Panama Canal Expansion $573 Million Over Budget, Prensa Says ECONOMIC DATA: (ALL TIMES NEW YORK) 4:30 a.m. U.K. Bank of England Minutes 4:30 a.m. U.K. June Unemployment Rate 7:00 a.m. U.S. MBA Mortgage Applications 8:30 a.m. U.S. July Consumer Price Index 8:30 a.m. U.S. August Empire Manufacturing 9:15 a.m. U.S. July Industrial Production 10:00 a.m. U.S. August NAHB Housing Market Index TV HIGHLIGHTS 7:00 a.m. BNP North America Chief Economist Julia Coronado 7:30 a.m. Council on Foreign Relations President Richard Haass 8:05 a.m. Blackstone Group LP Vice Chairman Byron Wien 12:00 p.m. Oppenheimer & Co. Inc. Strategist John Stoltzfus 3:08 p.m. RBS Securities Inc. Strategist Michelle Girard 5:00 p.m. Morgan Stanley Chief U.S. Economist Vincent Reinhart MARKETS (4:30 p.m. NY TIME): Last Chg %Chg WTI Crude Oil $93.43 +0.7 +0.8 Gasoline $3.0014 +0.0107 +0.4 Natural Gas $2.834 +0.105 +3.9 Copper $3.359 +0.055 +0.2 Gold $1,599.40 -10.20 -0.6 Wheat $8.3975 -0.17 -2 U.S. Dollar Index 82.52 +0.08 +0.1 MSCI All-Country Index 323.00 +0.46 +0.1
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