WE NEED YOUR FORECAST!! THE MORE CONSISTENT OUR MEMBERS ARE IN MAKING FORECASTS THE MORE CONSISTENT OUR RESULTS.
Equities found the silver lining in today's Non-farm Payroll number. Big Daddy has to leave the spigot going full blast for a bit longer. The smaller than expected number came in at 148K vs expected 187K. The rally up is what some call making lemonade. Gold also had a strong day based on the sentiment that cheap money is here to stay and someday/someway that means inflation. Weak demand and large inventories kept crude oil on the defensive Tuesday. Sharp words between Saudia Arabia and the US over lack of progress in Syria might have sparked some buying in another market on another day but the fundamentals are just too big to ignore for now. December Oil settled down -1.38 at 98.30.
Export Prices ex-ag. Prior -0.1%
Import Prices ex-oil Prior -0.2%
FHFA Housing Price Index Prior 1.0%
9:30 AM CT
Crude Inventories Prior 3.999M
How high? How long? Those are the two questions you've got to ask yourself. If bad news is good and good news is better this rally has got to have legs, right? Today's Import/ Export numbers are considered lagging indicators and probably won't have much of an effect on the action. The Crude Inventories data is going to be closely watched to see if there is any pick up in demand but since it includes the last week of the shutdown showdown don't expect to see much. Trade Wisely.