• At 8:30 AM ET, the Producer Price Index for October from the BLS. The consensus is for a 0.2% increase in prices, and a 0.1% increase in core PPI.
• Also at 8:30 AM, Retail sales for October will be released. On a monthly basis, retail sales were up 0.1% from August to September (seasonally adjusted), and sales were up 2.4% from September 2014. The consensus is for retail sales to increase 0.3% in October, and to increase 0.4% ex-autos.
• At 10:00 AM, Manufacturing and Trade: Inventories and Sales (business inventories) report for September. The consensus is for no change in inventories.
• Also at 10:00 AM, University of Michigan's Consumer sentiment index (preliminary for November). The consensus is for a reading of 92.0, up from 90.0 in October.
From Reuters: Oil slumps 4 percent, nears new six-year low as glut persists
Oil prices tumbled almost 4 percent on Thursday, accelerating a slump that threatens to test new six-and-a-half year lows, with traders unnerved by a persistent rise in U.S. stockpiles and a downbeat forecast for next year.
...
The latest decline was triggered by data showing that U.S. stockpiles were still rising rapidly toward the record highs reached in April, despite slowing U.S. shale production.
This graph shows WTI and Brent spot oil prices from the EIA. (Prices Friday added). According to Bloomberg, WTI was at $41.66 per barrel today, and Brent at $44.06.
This is about still above the lows back in August ($38.22 for WTI, and $41.59 for Brent), and down almost 50% year-over-year.
from Calculated Risk http://ift.tt/1LcPNE5
via YQ Matrix
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