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Thursday, November 06, 2008
Natural-gas Supply Up 12 Bln Cubic Feet: Energy Dept.
Polya Lesova
MarketWatch Pulse
NEW YORK -- Natural-gas inventories rose by 12 billion cubic feet for the week ended Oct. 31, the U.S. Energy Department said Thursday. Analysts at IHS Global Insight expected the report to show a climb of 50 billion cubic feet. Working gas in storage was 3,405 billion cubic feet as of Oct. 31, the government said. After the data, December natural-gas futures fell 24 cents, or 3.2%, to $7.01 per million British thermal units in electronic trading on Globex.
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A specialist is a member of a stock exchange who works as an auctioneer for a specific stock and/or stocks. It can be an individual, partnership, corporation or group of firms.
The specialist works to maintain a "fair and orderly market" for respective stocks, matching up buyers and sellers by displaying the best "bid" and "ask" prices at its trading post. If buys are not equal to sells, the specialist evens the scale by buying or selling shares, accordingly. However, they cannot make their own transactions until all investor orders have been placed.
Gauging supply and demand, the specialist sets an opening price for the stocks in its domain. If a price has not been set by the time the market opens, the specialist can delay that particular stock's opening.
Specialists make money off the "spread," which is the difference between bid and ask prices on orders.
