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Market Overview

Thursday Sep 02, 2010

U.S. stocks rose early in a reaction to an unexpected climb by 5.3% in pending sales of existing U.S. homes. However, they faded and remained range bound through mid-morning as the news seemed to struggle to be digested along with expected poor jobs numbers and a continuing build in U.S. inventories. By mid-morning the Dow Jones Industrial Average was trading at 10,275, the S&P 500 at 1,085 and the NASDAQ at 2,190. However, there still seemed to be an overall feeling from traders that we are still in for a long recovery as U.S. factory orders rose less than expected in July, U.S. productivity fell more than expected in the second quarter, and the level workers filing for jobless claims last week all point to continuing underlying issues. Tomorrow’s monthly unemployment data will be critical and early estimates suggest that unemployment is set to rise to 9.6%.

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Market Overview

Wednesday Sep 01, 2010

Strong manufacturing data helped overshadow poor jobs data to start September off on a strongly positive note. The Dow Jones Industrial Average rocketed over 240 points to 10,257 by mid-morning trade, the S & P 500-stock index moved to 1,078 and the NASDAQ moved to 2,173. The movement comes after U.S. manufacturing activity expanded in August for the 13th straight month, with the ISM manufacturing PMI beating expectations to rise to 56.3, from 55.5 in July. However, the reaction to the report, especially after the Fed continues to voice concern over the recovery, may be a bit of an over-reaction. Along with the positive ISM report, there was a poor ADP jobs report, and a build in inventories. Still today's report seems to have been taken as positive and includes strength in both exports and imports and an increase in prices paid.

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Sugar (SB) December (Z) January (F) Diagonal Calendar Put Spread

Tuesday Aug 31, 2010

With sugar in deficit over the past two years and increased planting worldwide finally taking hold, witness India (#2 exporting country) exporting for the first time since the shortage as expectations for a surplus this upcoming season are high and rising...

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