Stocks continue to trade in quiet action as the Dow closed off 13.90 points to 19,819. Trading volume was lower than king crab skat as Wall Street looks like a ghost town.
President Obama today gave the “heave ho” to 35 Russian “diplomats” as part of his efforts to counter suspected Russian involvement in the presidential election. Man this guy sure gets a lot done while on vacation! All I do is hike or go out to eat. Between President Obama and the Russians, and President-elect Trump and the Chinese, 2017 is shaping up to be an interesting year in terms of foreign policy. US investors in international funds might have to reprice the risk profile on these overseas investments if these conflicts start to mushroom. 2017 could be a very challenging year for China in particular.
Natural gas prices have recently hit a high not seen since 2014 and as a result, natgas producers are putting hedges in to protect against a possible fall in prices once the weather warms up again in the spring. According to S&P Global Market Intelligence, hedges are being placed at $3 per MMBtu’s. Spot prices for gas stood at $3.81 per MMBtu versus at 52 week low of $2.49 per MMBtu’s.
Gold prices were on the move today jumping $15 an ounce to $1,155. The rise in gold was due to US and Russian tensions and a slight pullback in interest rates.