Sunday, April 03, 2016

Sunday Night Futures

by Bill McBride on 4/03/2016 08:22:00 PM

This is amusing.  Logan Mohtashami wrote an article on April 1st titled The U.S. Economy Is About To Crash.

Although an April Fools joke, Logan told me the post was very popular since most people didn't realize it was a joke because of the title.  This is why yellow journalism thrives.

Weekend:
Schedule for Week of April 3, 2016

Monday:
• Early: Reis Q1 2016 Office Survey of rents and vacancy rates.

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

From CNBC: Pre-Market Data and Bloomberg futures: currently S&P futures are down 3 and DOW futures are down 20 (fair value).

Oil prices were down over the last week with WTI futures at $36.34 per barrel and Brent at $38.37 per barrel.  A year ago, WTI was at $49, and Brent was at $56 - so prices are down about 25% to 32% year-over-year, respectively.

Here is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are at $2.06 per gallon (down almost $0.35 per gallon from a year ago).