Morning Update

S&P futures vs fair value: +4.80. Nasdaq futures vs fair value: +7.50. Most commodities are up this morning, building on their prior session advance. Collective strength has the CRB Index up 0.9% this morning, and up 3.0% week-to-date. Crude oil prices are up 1.6% to $101 per barrel in the opening minutes of pit trade. However, natural gas prices are under pressure after staging three consecutive climbs. The energy component was last quoted with a 1.8% loss at $2.72 per MMBtu. Weekly natural gas inventory numbers are due at 10:30 AM ET. Both gold and silver are sporting strong gains. Specifically, gold prices have gained 1.6% to trade at $1727 per ounce, while silver sports a 1.4% gain at $33.59 per ounce.

Market Update