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Key Fundamental Catalysts for US Natural Gas Traders

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Key Fundamental Catalysts for US Natural Gas Traders PART 1 OF 5

Commodities and the S&P 500 Advanced on April 12

S&P 500’s performance 

The S&P 500 rose ~0.8% to 2,663.99 on April 12, 2018, due to optimism about strong 1Q18 earnings results. Six out of the 11 major sectors in the S&P 500 rose on April 12, 2018.

The SPDR S&P 500 ETF (SPY) rose ~0.8% to $265.9 on April 12, 2018. SPY aims to follow the performance of the S&P 500 Index.

Commodities and the S&#038;P 500 Advanced on April 12

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S&P 500’s sectoral performance 

The financials, industrials, and IT sectors rose 1.8%, 1.4%, and 1.2%, respectively, on April 12, 2018. These sectors supported SPY the most on April 12, 2018.

The energy sector, which accounts for ~5.8% of the S&P 500 Index, fell 0.01% on April 12, 2018. The Energy Select Sector SPDR ETF (XLE) fell ~0.01% to $70.63 on April 12, 2018. XLE represents the S&P 500 Index’s energy sector.

The sentiment in the equities and commodities markets can impact each other depending on the magnitude of the moves and various fundamental factors affecting each market.

Commodities 

WTI crude oil futures for May delivery rose 0.4% to $67.07 per barrel on April 12, 2018—the highest settlement since December 3, 2014. Prices rose due to geopolitical tension in the Middle East and shrinking global oil inventories. The United States Oil ETF (USO) rose ~0.5% to $13.5 on April 12, 2018. USO aims to track active WTI oil futures’ performance.

US natural gas futures for May delivery rose 0.4% to $2.68 per MMBtu (million British thermal units) on April 12, 2018. Prices rose due to the larger-than-expected withdrawal in US natural gas inventories. The United States Natural Gas ETF (UNG) rose 0.7% to $22.19 on April 12, 2018. UNG aims to track active natural gas futures.

The iShares S&P GSCI Commodity-Indexed Trust (GSG) rose 0.4% to $17.15 on April 12, 2018. GSG aims to track an index composed of a diversified group of commodities futures.

US Dollar Index

The US Dollar Index appreciated ~0.2% to $89.75 on April 12, 2018. The Power Shares DB US Dollar Bullish ETF (UUP) rose 0.21% to $23.51 on April 12, 2018. UUP aims to track the performance of the Deutsche Bank Long USD Currency Portfolio Index – Excess Return. The US Dollar Index and commodities like gold and crude oil are usually inversely related. 

Series overview 

In this series, we’ll discuss US natural gas inventories, production and consumption, and natural gas price forecasts.

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