Markets To Watch Today

Crude Oil: February Crude Oil futures are trading slightly lower in early trading. Crude Oil rose 18 cents, to settle at $60.53 a barrel on Wednesday. While trading has been quiet this week, today’s action will determine if Crude Oil can post its first annual decline since 2001. The 2005 close was at $61.04, and the 2006 high was near $80 back in July. Mild winter weather continues to be the focus of traders, as prices continue to hover around $60. February Crude Oil futures are trading down 39 cents at $60.14 a barrel in early trading.

Soybeans: March Soybean futures ended the overnight session slightly higher. Yesterday, March Soybean futures ended the day up 5 ¼ cents at $690.50 a bushel. Technical buying and strength from the vegetable oil markets provided the support. Overall, volume has been light as the holiday season continues. March Soybean futures ended the overnight session up 1 cent at $691.50 a bushel.

S&P: March S&P 500 futures are trading slightly higher this morning, as the market appears to be headed for a slow day of trade. Some investors are clinging onto hope that there will be some position jostling on the last trading day of 2006. The S&P is poised to end the year with its best performance since 2003, gaining 14% in 2006. There is no major economic data due out today. The major news everyone is waiting for is the NYSE’s decision on whether to open or close Tuesday. The NASDAQ has already announced it will shut down for President Ford’s day of mourning. March S&P futures are trading up 1.20 at 1435.00 in early trading.