Sunday, March 20, 2016

Sunday Night Futures

by Bill McBride on 3/20/2016 08:05:00 PM

Note: I'd take the "under" on existing home sales tomorrow. Housing economist Tom Lawler is not always right on, but he is usually pretty close - and he expects the NAR to report February sales of 5.20 million SAAR, below the consensus forecast of 5.34 million SAAR. See this post for a review of Lawler's track record.

Schedule for Week of March 20, 2016

• At 8:30 AM ET, Chicago Fed National Activity Index for February. This is a composite index of other data.

• At 10:00 AM, Existing Home Sales for February from the National Association of Realtors (NAR). The consensus is for 5.34 million SAAR, down from 5.47 million in January. Housing economist Tom Lawler expects the NAR to report sales of 5.20 million SAAR for February.

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

Oil prices were up over the last week with WTI futures at $39.05 per barrel and Brent at $41.11 per barrel.  A year ago, WTI was at $46, and Brent was at $53 - so prices are down about 15% to 22% year-over-year, respectively.

Here is a graph from for nationwide gasoline prices. Nationally prices are at $1.99 per gallon (down about $0.40 per gallon from a year ago).