Sunday, August 27, 2017

Sunday Night Futures

by Bill McBride on 8/27/2017 06:49:00 PM

My thoughts are with the people of south Texas. I was hoping the forecasts were wrong - and the rain and damage wouldn't be this severe - but once again the NHC forecasts were correct.

There will be some significant economic impacts from Hurricane Harvey (housing, oil, etc). I'll try to address some of these later this week after the deluge. Best wishes to all.

Weekend:
Schedule for Week of Aug 27, 2017

Monday:
• At 10:30 AM, Dallas Fed Survey of Manufacturing Activity for August.

From CNBC: Pre-Market Data and Bloomberg futures: S&P 500 and DOW futures are mostly unchanged (fair value).

Oil prices were mixed over the last week with WTI futures at $48.03 per barrel and Brent at $52.83 per barrel.  A year ago, WTI was at $47, and Brent was at $50 - so oil prices are up slightly year-over-year.

Here is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are at $2.36 per gallon - a year ago prices were at $2.22 per gallon - so gasoline prices are up 14 cents per gallon year-over-year.