7:30 AM CT
Retail Sales Forecast 0.2% Prior -0.1%
CPI Forecast 0.0% Prior 0.2%
9:00 AM CT
Existing Home Sales Forecast 5.0M Prior 5.29M
Business Inventories Forecast 0.2% Prior 0.3%
9:30 AM CT
Crude Inventories Forecast 900K Prior 2.640M
1:00 PM CT
It's been a long week this past two days. The markets haven't had any data to trade and last week's run up seems a long time ago. Leading into today's session Asian markets were down across the board except for Hong Kong's Hang Seng. Fighting a light headwind traders will have lots of data to look at today. The Retail Sales number may give some idea of what the retail holiday season is going to look like. Home Sales and inventories are both average indicators of where things have been and may be going. Energy traders will be watching the 9:30 crude inventories report to see if we get another build. The forecast is for a build of roughly 900K but it has come in consistently higher the past two months. Finally this afternoon Big Daddy releases the minutes from the last FOMC meeting. Traders are very interested in knowing how close we are to 'last call. As usual the fed speak has played on both sides of the issue but today we'll get to see a bit deeper. Trade strong.
Yesterday's markets saw choppy trade the whole way through. Without any new data traders took what they could get and that wasn't much. The Dec S&P closed down -3.50 at 1785.20, Jan WTI closed at 93.89 up +.21 and gold held on at +1.2 to close at 1273.5.