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Wednesday, October 03, 2012

Thursday: Mall Vacancy Rate, Unemployment Claims, FOMC Minutes

by Calculated Risk on 10/03/2012 08:16:00 PM

There is a presidential debate tonight starting at 9 PM ET. The Wonkblog promises to "provide real time context for the many statistics and ideas".

There was a sharp decline in oil prices today, from Bloomberg: Oil Tumbles as [US} Crude Production Surges to 15-Year High

Oil fell to a two-month low in New York after the government reported that U.S. crude production climbed to the highest level in more than 15 years and fuel consumption decreased.

Futures dropped 4.1 percent after the Energy Department said crude output rose 11,000 barrels a day to 6.52 million last week, the most since December 1996. Total fuel demand fell 0.3 percent to 18.3 million barrels a day in the four weeks ended Sept. 28, the lowest level since April.

Brent oil for November settlement decreased $3.40, or 3 percent, to end the session at $108.17 a barrel on the London- based ICE Futures Europe exchange, the lowest close since Aug. 2.
On Thursday:
• Early: Reis will release the Q3 2012 Mall vacancy rates. Last quarter Reis reported a small decline in the vacancy rate for regional malls at 8.9%. For Neighborhood and Community malls (strip malls), the vacancy rate declined to 10.8% in Q2, from 10.9% in Q1.

• At 7:45 AM, the European Central Bank announcement with a press conference to follow.

• At 8:30 AM, the initial weekly unemployment claims report will be released. The consensus is for claims to increase to 370 thousand from 359 thousand.

• At 10:00 AM, the Manufacturers' Shipments, Inventories and Orders (Factory Orders) report for August will be released. The consensus is for a 6.0% decrease in orders..

• Also at 10:00 AM, the Trulia Price Rent Monitors for September will be released. This is the new index from Trulia that uses asking prices adjusted both for the mix of homes listed for sale and for seasonal factors.

• At 2:00 PM, the FOMC Minutes for Meeting of September 12-13, 2012 will be released. The minutes might provide additional information about the recent Fed decision.