Sunday, October 04, 2015

Sunday Night Futures

by Bill McBride on 10/04/2015 08:17:00 PM

Reading articles this weekend on the payroll report, I'm reminded of a sentence I wrote back in March: Why the Prime Labor Force Participation Rate has Declined

"Complaining about the decline in the overall labor force participation rate is the last refuge of scoundrels."
Still true.

Schedule for Week of October 4, 2015

• Early: Reis Q3 2015 Mall Survey of rents and vacancy rates.

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

• Also at 10:00 AM ET, the ISM non-Manufacturing Index for September. The consensus is for index to decrease to 57.7 from 59.0 in August.

From CNBC: Pre-Market Data and Bloomberg futures: currently S&P futures are down 2 and DOW futures are down 14 (fair value).

Oil prices were down slightly over the last week with WTI futures at $45.29 per barrel and Brent at $47.85 per barrel.  A year ago, WTI was at $90, and Brent was at $91 - so prices are down about 50% year-over-year (It was a year ago that prices started falling sharply).

Here is a graph from for nationwide gasoline prices. Nationally prices are at $2.29 per gallon (down about $1.00 per gallon from a year ago).