Daily Delphi

Post: Thursday and Big Daddy's watching. | Daily Delphi

BlogsPit Talk › Thursday and Big Daddy's watching. December 12, 2013, 6:50 am

7:30 AM CT
Initial Claims
Forecast 320K Prior 298K
Retail Sales
Forecast 0.7% Prior 0.4%
Export Prices
Forecast -0.3% Prior -0.5%
Import Prices
Forecast -0.8% Prior -0.7%
9:00 AM CT
Business Inventories
Forecast 0.4% Prior 0.6%

Today Big Daddy gets one last chance to look at some employment data in the initial claims number before next week's meeting. Retail sales are always a good indicator of the economy's health and will take on greater weight today for three reasons: the economy is starting to gain steam, the holidays are upon us and Big Daddy is definitely watching. Also, don't forget that Tuesday's budget compromise means good things for the economy. And to traders that's a bad thing at this particular moment. Trade strong.

Equities trended lower throughout the session and closed down near the low. The December S&P settled down -22.30 at 1780.80.
Crude oil gave up some ground today in spite of the much bigger than expected draw of 10.585M barrels. January WTI settled down -1.07 at 97.44. it appears that all the goodwill in DC has made the markets a bit more leery that Big Daddy really will pull the trigger at next weeks meeting and call last call.

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