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House of Representatives will begin debate Wednesday morning on legislation that would curtail speculation in the energy and agriculture markets, but may face Republican opposition as the GOP seeks to force Democrats to allow a vote on increased domestic petroleum exploration and production. The bill – which last week passed with strong bipartisan support in the Agriculture Committee – would strengthen the Commodity Futures Trading Commission, giving it more power to rein in speculation that many lawmakers believe is helping to fuel skyrocketing energy and agriculture prices. By using a procedure that prevents amendments to the bill – for fear of a vote on exploration the speaker will need to garner two-thirds of the House for the legislation to pass, a strategy that leaves the bill open to Republican blocking. Although the House bill is more of a regulatory scalpel compared to the Senate anti-speculation bill cleaver – which would mandate position limits throughout all commodity futures markets – the financial and trading industries are concerned about the impact on the market. read more

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US STOCKS-Futures edge up as oil price falls – Forbes. Comedian Michael Ian Black’s debut book contains a few comedic gems. Sitemap Help Contact Us Investment Newsletters Forbes Conferences Forbes Magazines Forbes Autos Ad Information Forbes. read more

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The Dow industrials rose 21 points, the S&P 500 added 5 points and the Nasdaq Composite rose 30 points. Kohlberg Kravis Roberts announced a plan to go public by first swapping 21% of itself for the holdings of its European affiliate, and then listing the combined firm on the New York Stock Exchange. Become a better trader with technical analysis of the market’s trading ranges, exit and entry points, breakout signals and more — including five stocks poised to move in each issue. Historical and current end-of-day data provided by Interactive Data Pricing and Reference Data . Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. read more

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In a nondescript office building off Ormsby Station Road, dozens of employees at ICAP Energy huddle around computer screens while they track the price of natural gas, coal and electricity. It’s been quite a ride, as ICAP’s energy experts have watched the price of crude oil — one of their biggest markets — pass $145 a barrel earlier this month, or nearly five times the price of a barrel on the New York Mercantile Exchange five years ago. The soaring price has prompted criticism from airline executives, members of Congress and other observers, who claim that speculators have driven up the price unnecessarily. In the past, Wozniak said, some of the biggest players in the industry were energy buyers such as airlines or trucking companies that sought to purchase oil through futures contracts to lock in prices ahead of time and reduce risk. The price of light sweet crude fell below $130 a barrel last week after passing $145 early last month on the New York Mercantile Exchange. read more

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The vitriol seems to roll off the back of Jeffrey Sprecher, the 53-year-old founder of the ICE, which started as a private, high-ticket eBay for market professionals to trade esoteric electricity and natural gas derivatives. One ICE subsidiary, now called ICE Futures Europe, has been regulated in London for decades and is now also supervised by regulators in Washington. ICE Futures Canada, another ICE exchange that is a center for canola futures trading, is overseen by regulators in Winnipeg. ICE Futures US, a third subsidiary formerly called the New York Board of Trade, has long been monitored by the Commodity Futures Trading Commission. His brainchild, the original ICE trading network, allows giant traders with at least $100 million in assets to trade a host of so-called over-the-counter swaps. Sprecher estimates that the ICE now handles about a tenth of all over-the-counter swaps involving natural gas and electricity, but does no business in crude oil swaps, which still trade privately by telephone. read more

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Amidst rising prices globally, commodities are turning out investment hedge while equities have turned volatile on the back of high oil prices. On January 4, while the combined turnover of MCX and NCDEX (two leading national commodity exchanges ) was a fifth of the turnover in equity markets, at Rs 20,000 crore. The report later adds that the fundamental case for commodities still remains intact and, as a result, commodities should continue delivering positive returns for investors once the economic outlook starts improving. Mumbai-based Kushal Thaker, a commodities futures trader and an HNI said that he has increased his exposure in commodities by 30%. read more

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Comedian Michael Ian Black’s debut book contains a few comedic gems. Sitemap Help Contact Us Investment Newsletters Forbes Conferences Forbes Magazines Forbes Autos Ad Information Forbes. read more

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US Congress may outlaw elements of oil futures trading that lawmakers found to have distorted demand and contributed to the 69 per cent surge in prices in the past year. The number of outstanding crude oil futures in New York fell to the lowest in 17 months as the Senate began considering legislation to limit speculation in oil markets. Measures proposed by Democratic Senate leader Harry Reid and his Republican counterpart Mitch McConnell would expand the Commodity Futures Trading Commissions’s enforcement staff and give it access to data for identifying over-the-counter traders and those making US-based transactions on foreign exchanges. US lawmakers, who normally avoid major initiatives in an election year, are moving to curb oil trading as higher costs anger voters, says Kevin Madden, the former media strategist for one-time Massachusetts governor Mitt Romney’s Republican presidential campaign. Goldman Sachs and oil traders say a poorly-designed measure will not reduce prices and may remove investment options that serve as a hedge against inflation. read more

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LONDON, July 22 (Reuters) – Britain’s blue-chip FTSE index fell 1. By 0806 GMT, the commodity-heavy FTSE 100 . The index, which had risen for the past three sessions, has fallen more than 17 percent this year. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here . read more

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Sales of Vytorin, which combine Merck and Schering-Plough drugs, have suffered recently after a controversial study showed it wasn’t any more effective in treating heart disease than generic versions of Zocor, which are substantially cheaper. Bank of America, Genentech lead stock futures higher – MarketWatch Intraday data provided by Interactive Data Real Time Services , a division of Interactive Data Corp. Historical and current end-of-day data provided by Interactive Data Pricing and Reference Data . Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. SEHK intraday data is provided by Comstock and is at least 60-minutes delayed. read more

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