- ProShares Ultra Bloomberg Natural Gas was the biggest decliner after giving up 20.89% yesterday As things stand, United States Natural Gas Fund LP (down 10.38%) and Vanguard Mortgage-Backed Securities ETF (down 0.925%) are underperforming today
- European markets are dropping as FTSE decreases to 7,542.76 (down 0.33%).
Yesterday's trading session saw to it that leading equity indices in the US declined as S&P 500 closed at 3,999, a 1.79% change. Dow Jones was down 1.4% before closing the session at 33,947.
Trading in the US will continue today in around 3 hours time, meanwhile European markets have struggled to gain ground and are now trading lower midway through the session. Asia-Pacific markets ended a mixed session today whilst KOSPI Composite Index descends to 2,393 (down 1.08%).
Amid the market gloom, United States ISM Non-Manufacturing PMI (Nov) came out at 56.5, while a consensus of analysts was expecting 53.3. United States Factory Orders beat the 0.7% projections, with 1%. United States ISM Non-Manufacturing Employment (Nov) released yesterday at 15:00 UTC with a figure of 51.5, while the previous figure was 49.1.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United States Initial Jobless Claims projected to decline to 230,000 while previous data was 225,000; data will be released Thursday.
Some optimism can drawn from the fact that United States Crude Oil Inventories is projected to outperform its last figure with -3.88 million, having previously been at -12.58 million. The figure will be published tomorrow at 15:30 UTC.
Furthermore, United States EIA Short-Term Energy Outlook is expected today at 17:00 UTC.
Yesterday's bearishness meant that ProShares Ultra Bloomberg Natural Gas lost 20.89% yesterday before closing at $28.07. United States Natural Gas Fund LP (down 10.38%), Vanguard Mortgage-Backed Securities ETF (down 0.925%) also underperformed yesterday.
VMBS falls back to $46.03 after shedding 0.93% yesterday
A tough session dominated by bearish sentiment left VMBS 43 cents lower, while setting a $45.98 to $46.29 session range.
Continuing its an 8 day bearish run (-$19.12), ProShares Ultra Bloomberg Natural Gas showed losses yesterday.