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Post: Thursday 'Day 3' | Daily Delphi

BlogsPit Talk › Thursday 'Day 3' October 3, 2013, 6:50 am

WEDNESDAY RECAP
Wednesday's crude inventories number came in with a bigger build than forecast. Actual +5.472M vs forecast +2.5. That news wasn't enough to hold the market down. Word that the southern portion of the Keystone pipeline will be completed by months end and therefore potentially reduce supplies in Cushing, Oklahoma gave some support to late session buying. WTI settled at 104.10 up +2.06.

TODAY'S ACTION
7:30 AM CT
Initial Claims Forecast 315k Prior 305k
9:00 AM CT
Factory Orders Forecast .3% Prior -2.4%
ISM ServicesForecast 57.6 Prior 58.6
There will be more of the same watching and listening for how long the shutdown showdown may last. Pressure is starting to build and will definitely test the resolve of House republicans. Typically the day before the Nonfarm Payrolls has been a day of waiting. But today there was talk that the BLS may not be able to release the number because of the government shutdown. Currently they have only 3 of their 2,400 employees working. This could actually be good news for the markets as it gives the no tapering camp hope that Big Daddy may kick the can to 2014. Last but not least, the clock continues to tick as the debt ceiling looms large.Trade well.


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