Monday, September 07, 2015

Monday Night Futures

by Bill McBride on 9/07/2015 08:15:00 PM

Weekend:
Schedule for Week of September 6, 2015

Tuesday:
• At 9:00 AM ET, the NFIB Small Business Optimism Index for August.

• At 10:00 AM, the Fed will release the monthly Labor Market Conditions Index (LMCI).

• At 3:00 PM, Consumer Credit for July from the Federal Reserve. The consensus is for an increase of $18 billion in credit.

From CNBC: Pre-Market Data and Bloomberg futures: currently S&P futures are up 20 and DOW futures are up 150 (fair value).

Oil prices were down over the last week with WTI futures at $44.61 per barrel and Brent at $47.63 per barrel.  A year ago, WTI was at $97, and Brent was at $100 - so prices are down over 50% year-over-year.

Here is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are at $2.39 per gallon (down more than $1.00 per gallon from a year ago).  Gasoline prices will probably continue to decline over the next month (follow oil prices down).