This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Metals Fall, Oil Rises As Investors Parse Economy

By The Associated Press

Key commodities struggled for direction Tuesday, pulled in opposite directions by the uncertainty caused by the Cyprus bailout and by optimistic signs that the U.S. economy is improving.

Precious metals and some key industrial metals fell Tuesday, while energy commodities were up and crops were mixed.

"We are seeing a very mixed tone in the various markets," analysts from RBC Capital Markets wrote in a note to clients.

The bailout deal reached this week for Cyprus, the cash-strapped Mediterranean island country, has had less than a calming effect on investors. For many, the stop-gap measure has served only to remind them of how deep Europe's debt problems are.

Hints that the U.S. economy could be improving also weren't enough to squash lingering fears about the long-term state of the economy, at least not in metals trading.

The Commerce Department said that orders for factory-produced durable goods rose more than expected in February. Home prices also rose in January, according to the Standard & Poor's/Case-Shiller 20-city price index.

Copper for May delivery slipped 0.25 cent to $3.4425 per pound. July platinum lost more than 1 percent, down $17.10 to $1,569.80 per ounce. June gold dropped $9.20 to $1,597.30 per ounce. May silver lost 13.6 cents to $28.679 per ounce. June palladium was the exception, rising $4.05 to $761.40 per ounce.

Energy commodities were up. Benchmark crude for May delivery gained $1.53 to a five-week high of $96.34 a barrel in New York. Brent crude, used to price many kinds of oil imported by U.S. refineries, rose $1.19 to $109.36 per barrel in London.

Wholesale gasoline rose 5 cents to $3.11 a gallon. Heating oil added less than a cent to $2.88 a gallon. Natural gas advanced by 11 cents to $3.98 per 1,000 cubic feet.

Key agricultural commodities were mixed. Wheat rose 4.25 cents to $7.315 per bushel. Soybeans rose 10.5 cents to $14.4775 per bushel. Corn fell 3 cents to $7.3025 per bushel.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,289.69 -127.16 -0.73%
S&P 500 2,011.44 -9.81 -0.49%
NASDAQ 4,670.7030 -12.7040 -0.27%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs