9:00 AM CT
Crude inventories Prior -4.731M
1:00 PM CT
Auto Sales Prior 5.7M
Truck Sales Prior 7.1M
With winter storm Hercules bearing down on the East Coast of the US volumes could remain low for the second trading day of 2014. Yesterday's traditional inflow of IRA and bonus money into the market wasn't enough to keep prices up. Today's weather forecast may force the new money to stay on the sidelines for one more day as we finish the first trading week of the new year. Overnight Asian markets were down and European markets were mostly up. Trade strong.
The new year started off without a bang. Bad weather, the holiday week and lack of any big economic news led to anemic trade volumes across the board. The S&P broke a six year first day winning streak by settling down -14.50 at 1826.60. February WTI crude traded well under the $100 dollar mark at 95.44 after losing -2.98. Finally, February gold traded up +22.9 to close at 1225.2.