Sunday, May 08, 2016

Sunday Night Futures

by Bill McBride on 5/08/2016 07:31:00 PM

From the WSJ: Greece Passes Austerity Measures As Creditors Remain Deadlocked Over Bailout Terms

The legislation that Greek lawmakers passed late on Sunday covers the bulk of a package of austerity measures worth around €5.4 billion ($6.16 billion), or 3% of gross domestic product, that creditors have requested.
...
Greece’s most influential creditors, Germany and the International Monetary Fund, remain deadlocked over the terms of Greece’s bailout plan, which the IMF thinks is badly flawed but Germany says can’t be changed.
The beatings will continue until morale improves.

Weekend:
Schedule for Week of May 8, 2016

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

From CNBC: Pre-Market Data and Bloomberg futures: S&P are up 11 and DOW futures are up 120 (fair value).

Oil prices were up over the last week with WTI futures at $45.79 per barrel and Brent at $45.37 per barrel.  A year ago, WTI was at $59, and Brent was at $64 - so prices are down about 25% year-over-year.

Here is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are at $2.21 per gallon (down about $0.40 per gallon from a year ago).