Sunday, September 10, 2017

Sunday Night Futures

by Bill McBride on 9/10/2017 08:09:00 PM

Weekend:
Schedule for Week of Sept 10, 2017

From CNBC: Pre-Market Data and Bloomberg futures: S&P 500 are up 6, and DOW futures are up 120 (fair value).

Oil prices were up over the last week with WTI futures at $47.65 per barrel and Brent at $53.94 per barrel.  A year ago, WTI was at $46, and Brent was at $48 - so oil prices are up year-over-year.

Here is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are at $2.66 per gallon - up sharply due the Hurricane Harvey - a year ago prices were at $2.19 per gallon - so gasoline prices are up 47 cents per gallon year-over-year.

The increase in gasoline prices will push up inflation in September, but prices will probably decline back to pre-hurricane levels fairly quickly.