by Bill McBride on 12/06/2015 08:21:00 PM
Sunday, December 06, 2015
A quick note: Oil prices have fallen near the lows for the year.
WTI hit $38.22 per barrel in August 2015 - the low for the year - and WTI prices are now at $39.54 (the low for WTI in 2008 was $30.28).
In November 2015, Brent hit $40.28 per barrel, and Brent prices are now at $42.80 (the low for WTI in 2008 was $33.73).
• At 10:00 AM ET, The Fed will release the monthly Labor Market Conditions Index (LMCI).
• At 3:00 PM, Consumer Credit for October from the Federal Reserve. The consensus is for an increase of $20 billion in credit.
• Schedule for Week of December 6th
• The Endless Parade of Recession Calls
From CNBC: Pre-Market Data and Bloomberg futures: currently S&P futures are down 3 and DOW futures are down 25 (fair value).
Oil prices were down over the last week with WTI futures at $39.54 per barrel and Brent at $42.80 per barrel. A year ago, WTI was at $66, and Brent was at $68 - so prices are down almost 40% year-over-year (It was a year ago that prices were falling sharply).
Here is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are at $2.03 per gallon (down about $0.65 per gallon from a year ago).