by Bill McBride on 1/08/2017 08:04:00 PM
Sunday, January 08, 2017
• Schedule for Week of Jan 8, 2017
• Question #6 for 2017: Will the Fed raise rates in 2017, and if so, by how much?
• At 10:00 AM ET, The Fed will release the monthly Labor Market Conditions Index (LMCI).
• At 3:00 PM, Consumer credit from the Federal Reserve. The consensus is for a $18.5 billion increase in credit.
From CNBC: Pre-Market Data and Bloomberg futures: S&P futures are up 2, and DOW futures are up 24 (fair value).
Oil prices were up over the last week with WTI futures at $53.81 per barrel and Brent at $56.97 per barrel. A year ago, WTI was at $33, and Brent was at $32 - so oil prices are up sharply year-over-year.
Here is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are at $2.37 per gallon - a year ago prices were at $2.00 per gallon - so gasoline prices are up almost 40 cents a gallon year-over-year.