(June 11 2012)
Markets have continued their late session slump into the after hours session as investors have turned their attention toward the upcoming Greek elections. Greeks will go to the polls again next week, hopefully this time the results will end in the country forming a government.
Commodities are slumping in the after hours session; gold is the one exception, however it is only fractionally higher. Gold, silver, copper and platinum all managed to close the regular session higher; however, silver copper and platinum prices are trending down in the after hours session.
After hours price movements are limited ahead of USDA’s crop progress report- due tomorrow. Corn has not seen any after hour action at all, while soybeans and wheat are lower. Wheat was the one soft that managed to close the regular session higher, up 0.04%, but wheat prices have since slumped 0.04% in after hours, leaving the grain even for the day.
Oil, natural gas, and gasoline are all lower in after hours trading.
Progress Energy (PGN) is one of the after hours session’s top gainers. Its stock is up 4.1% after FERC conditionally approved the Progress- Duke Energy merger. Duke Energy (DUK), the larger of the two companies, is not witnessing a rally- as Progress Energy stands to benefit more from the merger than Duke