Support: 888-992-3836
Copyright © 2023 InvestorsHub Inc.
Replies to post #1897 on United States Natural Gas Fund LP (UNG)
OilStockReport
11/26/10 10:38 PM
#1898 RE: wow_happens28 #1897
Natural gas markets aren’t moving much today despite predictions that weather will be colder than expected in early December. A possible reason pointed out in the Bloomberg article is that earlier this week inventory forecasts aren’t giving traders much room to believe a pick-up is near. “We still don’t see clear-cut government data that support strong industrial demand,” Michael Rose, director of trading at Angus Jackson Inc., told reporter Moming Zhou. The United State Natural Gas Fund (UNG) was down at 12:45 p.m. eastern time today by 0.25% while the First Trust ISE-Revere Natural Gas Index (FCG) dipped 0.77%. UNG had returned -39.9% for the year heading into today, according to Morningstar. At the same time, FCG’s focus on stocks rather than spot futures prices had it generating a 3.9% positive return. Leading names in FCG include Anadarko Petroleum (APC) and Newfield Exploration (NFX). The former had gained more than 40% and the latter 28.9% so far this year. Both were trading down around 1% late in today’s session.