Indiana Grain Company, LLC

Posted: 03/15/10

By: tomgrisafi

On Friday, stocks rose yet again, sending the Standard & Poor’s 500 Index to the highest level since October 2008, as Citigroup Inc. led a bank rally and investors speculated that health-care reform will be harder to pass.

S&P futures have closed up for eleven consecutive days, but beginning Sunday evening, we at Indiana Grain quickly took notice of the S&P futures falling into negative territory.

Asian stocks dropped while oil and copper declined on prospects China will take more steps to cool its economy. The pound weakened after Moody’s Investor Service said the U.K. is close to losing its top credit rating.

The MSCI Asia Pacific Index slid 0.4 percent to 122.70 as of 4:18 p.m. in Tokyo, as the Shanghai Stock Exchange Composite sank to a five-week low.

The pound fell against 15 of 16 major counterparts after, Moody’s Managing Director Pierre Cailleteau said the U.K. and U.S. have moved closer to losing their AAA ratings. Futures on the Standard & Poor’s 500 fell 0.4 percent and declined 0.3 percent for the Euro Stoxx 50.

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