Gold took another beating today on strong volume but it seems there are fears that our Asian neighbors may be leaving the market. The fear premium in gold may be gone but oil held it's own on talk that Syria might not go so quietly into the night and Libya has felt ignored and might be looking to make some trouble. The S&P chopped around today after seeing Initial Claims at the best level since 2006. Some traders discounted the always volatile number because of reported problems with the count. Also, as has been the case lately, uncertainty over Syria served as the scapegoat for apparent profit taking late in the day.
7:30 AM CT
Retail Sales Forecast .4% Prior .2%
PPI Forecast Forecast .2% Prior 0.0%
8:55 AM CT
Mich Sentiment Forecast 81.5 Prior 82.1
Business Inventories Forecast .2% Prior 0.0%
A little bit of something for everyone today. With Retail Sales and Mich Sentiment out today we'll get a sense of what consumers are doing and what they say they're thinking. The PPI will tell the markets if there are any inflationary pressures in the pipeline. Big Daddy Fed may or may not be looking for an excuse but if any of these numbers come in much stronger than expected it could set the markets aflutter with speculation.