{"id":20697,"date":"2024-12-11T13:22:35","date_gmt":"2024-12-11T21:22:35","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=20697"},"modified":"2024-12-11T13:22:35","modified_gmt":"2024-12-11T21:22:35","slug":"movers-and-shakers-inflation-data-market-highs-and-commodity-surges","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/movers-and-shakers-inflation-data-market-highs-and-commodity-surges\/","title":{"rendered":"Movers and Shakers: Inflation Data, Market Highs, and Commodity Surges"},"content":{"rendered":"\n\n\n
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Pass the Knowledge – Feel Free to Forward to a Friend!<\/p>\n

Join our\u00a0Private Facebook group<\/a><\/p>\n

Subscribe to our\u00a0YouTube Channel<\/a><\/p>\n

Listen to our podcast: Subscribe on\u00a0Apple<\/a>,\u00a0Spotif<\/a>y,\u00a0Amazon<\/a>,\u00a0or wherever you listen to podcasts!<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Movers and shakers!\u00a0<\/strong><\/h3>\n

By Mark O’Brien, Senior Broker<\/p>\n

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General:\u202f\u00a0<\/strong><\/p>\n

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Fresh inflation data was released this morning, giving Federal Reserve officials one last glimpse at how their battle against inflation is progressing as they prepare for their final interest rate decision of 2024 next week.\u00a0 The November Consumer Price Index climbed 2.7% percent year-over-year.\u00a0 While this was in line with economists\u2019 expectations, the report was a reminder that the central bank has yet to achieve a full victory.<\/p>\n

Fed policymakers will decide whether or not to cut interest rates for a third and final time this year at their Dec. 17-18 gathering, and they will also release a fresh set of economic projections for 2025.<\/p>\n

The Fed aims for 2 percent yearly inflation, although they define that goal using a separate but related index, the Personal Consumption Expenditures measure. That will come out on Dec. 20, so this is the last big inflation report officials will have in hand before their meeting.<\/p>\n

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Stock Indexes:\u202f\u202f\u00a0<\/strong><\/p>\n

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Today, the Dec. E-mini Nasdaq futures rose over 400 points \u2013 an $8,000 per contract move \u2013 and above 21,800 to its latest all-time high.\u00a0 Still yet to close above 6100 despite trading intraday above that mark five of the last six sessions, including today, the E-mini S&P 500 is within single-digit points of closing at its own all-time high, surpassing the 6096.75 close last Friday, Dec. 6.<\/p>\n

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Crypto:\u202f\u202f\u00a0<\/strong><\/p>\n

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December Bitcoin futures once again pierced the $100,000 level with today\u2019s \u00b1$5,000\/\u00b15.25 move up and is set to post its latest all-time closing price after closing at $101,580 last Friday, Dec. 6.\u00a0 As of this typing, Dec. Bitcoin is trading at $102,150.<\/p>\n

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Energy:\u00a0<\/strong><\/p>\n

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January natural gas jumped over 20 cents per million British thermal units (MMBtu) \u2013 a $2,000 per contract move) in its largest single-day move in months.\u00a0 The rally coincides with colder weather sweeping across the Midwest and Northeast.\u00a0 Overnight and 3-5-day forecasts are trending colder and boosting near-term demand.<\/p>\n

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Softs:\u00a0<\/strong><\/p>\n

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Yesterday, March coffee futures traded up to all-time highs \u2013 above a 1977 price point \u2013 as analysts and traders expect crops in Brazil and Vietnam – the world’s two largest producers \u2013 to shrink.\u00a0 Brazil experienced one of its worst droughts in 70 years during August and September, followed by heavy rains in October, raising fears that the flowering crop could fail.\u00a0 Vietnam\u2019s crops experienced a similar weather cycle.\u00a0 One of the most heavily leveraged futures contracts: each one-cent move is $375, the March contract has sot up \u00b1$1.00 per pound \u2013 from its $2.42 close on Nov. 1 to its $3.34 close yesterday, a \u00b1$34,500 per contract move.\u00a0 Coffee is the world’s second most traded commodity by volume, after crude oil.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Daily Levels for December 12, 2024<\/strong><\/h3>\n

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Economic Reports<\/strong><\/h3>\n
provided by:\u00a0<\/a>ForexFactory.com<\/a><\/em><\/div>\n
All times are Eastern Time ( New York)<\/em><\/div>\n
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Good Trading!<\/div>\n
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About:\u00a0Cannon Trading is an independent futures brokerage firm established in 1988 in Los Angeles. Our mission is to provide reliable service along with the latest technological advances and choices while keeping our clients informed and educated in the field of futures and commodities trading.<\/div>\n
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Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.\u00a0You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Pass the Knowledge – Feel Free to Forward to a Friend! Join our\u00a0Private Facebook group Subscribe to our\u00a0YouTube Channel Listen to our podcast: Subscribe on\u00a0Apple,\u00a0Spotify,\u00a0Amazon,\u00a0or wherever you listen to podcasts! Movers and shakers!\u00a0 By Mark O’Brien, Senior Broker   General:\u202f\u00a0   Fresh inflation data was released this morning, giving Federal Reserve officials one last glimpse […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[231,76,230,1491,67,30,344],"tags":[],"class_list":["post-20697","post","type-post","status-publish","format-standard","hentry","category-commodity-brokers-2","category-commodity-trading-2","category-day-trading-2","category-e-mini-futures","category-future-trading-news","category-futures-broker-2","category-indices"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20697","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/comments?post=20697"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20697\/revisions"}],"predecessor-version":[{"id":20699,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20697\/revisions\/20699"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=20697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=20697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=20697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}