Sunday, December 13, 2015

Sunday Night Futures

by Bill McBride on 12/13/2015 07:47:00 PM

From Jon Hilsenrath at the WSJ: Fed Officials Worry Interest Rates Will Go Up, Only to Come Back Down

Federal Reserve officials are likely to raise their benchmark short-term interest rate from near zero Wednesday, expecting to slowly ratchet it higher to above 3% in three years.

But that’s if all goes as planned. Their big worry is they’ll end up right back at zero.
Schedule for Week of December 13th

FOMC Preview and Review of Projections

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

Oil prices were down over the last week with WTI futures at $35.62 per barrel and Brent at $37.93 per barrel.  A year ago, WTI was at $58, and Brent was at $61 - so prices are down almost 40% year-over-year.

Here is a graph from for nationwide gasoline prices. Nationally prices are at $2.01 per gallon (down about $0.55 per gallon from a year ago).  Prices should fall under $2.00 per gallon soon.