Crude-oil futures ended almost where they started today. The front-month contract benefited from easing supply concerns, after a meeting between President Barack Obama and Israeli Prime Minister Benjamin Netanyahu alleviated some fears over possible military action between Iran and Israel. On the other hand, demand worries continued to linger, as traders digested a downwardly revised growth outlook from China -- the No. 2 oil consumer in the world, behind the U.S. By the close, April-dated crude added 2 cents to finish at $106.72 per barrel.
Gold futures continued to backpedal today, but support from a weaker dollar helped the commodity keep its footing atop the $1,700 mark. China's downbeat growth forecast, as well as disappointing manufacturing data out of the euro zone, weighed on the precious metal, with gold for April delivery eventually giving back $5.90, or 0.3%, to end at $1,703.90 an ounce.
Levels to Watch in Trading:
At the end of every market day, the staff at Schaeffer's Investment Research reviews the trading day in detail, covering major events and key market developments. Don't miss this critical, timely and insightful report. If you enjoyed today's edition of Market Recap, sign up here for free daily delivery straight to your inbox.
The Case for Big Moves in IWM and QQQ
Featured Partners: AOL DailyFinance
© 2014 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242
Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email: email@example.com
All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.
Market Data provided by QuoteMedia.com | Data delayed 15-20 minutes unless otherwise indicated.