Yesterday's ISM Services number came in stronger than expected at 55.4. The news was enough to turn the equities around but not enough to get them in to into positive territory. The December S&P contract settle down -6.50 to close at 1756.50. WTI stayed under pressure Tuesday as trader's are looking for the seventh straight build in Crude Inventories today. The December contract settled down -1.25 to close at 93.37.
Leading indicators Forecast 0.6% Prior 0.7%
Crude Inventories Forecast 2.5M Prior 4.087M
Today's Leading Indicators report isn't much more than a compendium of previously released data. So there won't be much to see on the 9:00AM number. Oil traders will be watching the Crude Inventories number see if demand has really been as slack as they anticipate this past week. Don't forget the equities will be watching as the earnings reports keep rolling out, there's always room for a surprise. Trade Strong.