3:35 pm : The market is trading with broad, but modest gains on low volume. Financials, currently down 0.2%, are the only sector in the red.

Commodities saw strong gains this session as the dollar index was cut to fresh 15 month lows.

Energy commodities saw a 4.1% gain, collectively. Natural gas futures took off following mixed crude oil data. The January natural gas futures extended momentum following a slightly lower-than-expected build in inventories. They finished up 8.4% at $5.16 per MMBtu. The January crude oil contract popped off the flat line following its inventory data. They rose for the rest of the session and closed up 2.6% at $77.96 per barrel.

Precious metals rose 2.0%, collectively. Weakness in the dollar and continued bullish sentiment surrounding bullion led to gold hitting yet another new all-time high this session. They closed up 1.7% at $1185.50 per ounce. The futures continue to set new all-time highs, flirting with the $1190.00 per ounce level in the electronic trade. Gold futures are now up about 15% in less than one month. Silver futures also closed 1.7% higher this session. They are now up over 45% since mid-July after closing at $18.77 per ounce.

On a related note, the Baltic Dry Index moved lower for the fourth consecutive session. It lost 2.4% in its latest outing. A key question is whether the recent downturns mark the start of a true correction, or if it is merely profit taking following 16 straight advances for the DBI.DJ30 +29.18 NASDAQ +7.68 SP500 +4.71 NASDAQ Adv/Vol/Dec 1265/1.17 bln/1402 NYSE Adv/Vol/Dec 2022/600 mln/1002