Sunday, August 04, 2013

Monday: ISM Service Index, Senior Loan Officer Survey

by Bill McBride on 8/04/2013 08:55:00 PM

Monday:
• Early: The LPS June Mortgage Monitor report. This is a monthly report of mortgage delinquencies and other mortgage data.

• At 10:00 AM, the ISM non-Manufacturing Index for July. The consensus is for a reading of 53.0, up from 52.2 in June. Note: Above 50 indicates expansion, below 50 contraction.

• At 2:00 PM, the July 2013 Senior Loan Officer Opinion Survey on Bank Lending Practices from the Federal Reserve. This might show some slight loosening in lending standards.

Weekend:
Schedule for Week of August 4th

The Nikkei is down about 1.0%.

From CNBC: Pre-Market Data and Bloomberg futures: the S&P futures are down 3 and DOW futures are down 20 (fair value).

Oil prices have increased this week with WTI futures at $106.19 per barrel and Brent at $108.42 per barrel. The spread between WTI and Brent is back (but still small).

Below is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are starting to decline again.  If you click on "show crude oil prices", the graph displays oil prices for WTI, not Brent; gasoline prices in most of the U.S. are impacted more by Brent prices.



Orange County Historical Gas Price Charts Provided by GasBuddy.com