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Markets |
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Yesterday'x Action |
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Futures (2 hrs. before the bell) |
| metals |
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Steady; gold @ $1,177 & silver $15.79 |
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-0.24% |
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| stocks |
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..IBD announces that we're now in an uptrend. Uh-huh. "...S&P 500 and Dow Jones industrial average extended their winning streaks to five sessions, but the Nasdaq couldn't keep up, weighed down by a burst of institutional selling in the biotech space. The Dow hit a milestone..." |
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+0.09% |
NYSE will only be open today for 4-1/2 hours, closed tomorrow, and I imagine that on Friday the only people trading will be me and some day-trader in Saskatchewan who just move there from India. In the meantime:
MBA Mortgage Index
Initial Claims
Continuing Claims
Crude Inventories
Natural Gas Inventories
http://www.wsj.com/articles/oil-prices-slide-on-signs-of-growing-supply-glut-1419432130
Oil Prices Slide on Surge in Supplies
U.S. Crude Supplies Unexpectedly Rise, Adding to Glut of Oil
By Timothy Puko
Updated Dec. 24, 2014 2:43 p.m. ET
snip
January diesel hit its lowest settlement price since July 6, 2010. It lost 6.71 cents, or 3.4%, to close at $1.9236 a gallon. Distillate stocks, which include heating oil and diesel fuel, added 2.3 million barrels—more than double expectations—to 123.8 million barrels.
For some analysts the buildup of products shows that low prices aren’t triggering enough consumer demand to end the glut anytime soon.
“If the U.S. gasoline market can’t pull us higher … then it reinforces the idea that we are still in a petroleum bear market,” said Tim Evans, analyst at Citi Futures Perspective in New York.
But there are some who found hope in the numbers that consumers are starting to buy more.
Refiners moved an additional 572,000 barrels of products like gasoline and jet fuel last week, according to the EIA. That number is more akin to the summer driving season than the start of winter, said Carl Larry, director of oil and gas for Frost & Sullivan.
“That’s a crazy number,” Larry said. “You’re really seeing these low prices drive the consumer (to) increase the demand