Sunday, May 22, 2016

Sunday Night Futures

by Bill McBride on 5/22/2016 06:50:00 PM

From Tim Duy at Fed Watch: This Is Not A Drill. This Is The Real Thing. Here is his conclusion:

Bottom Line: This is not a drill. This meeting is the real thing - an undoubtedly lively debate that could end with a rate hike. I think we narrowly avoid a rate hike, but at the cost of moving forward the next hike to the July meeting.
Read the entire post!

Schedule for Week of May 22, 2016

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

Oil prices were up over the last week with WTI futures at $48.28 per barrel and Brent at $48.72 per barrel.  A year ago, WTI was at $59, and Brent was at $64 - so prices are down about 20%+ year-over-year.

Here is a graph from for nationwide gasoline prices. Nationally prices are at $2.28 per gallon (down about $0.45 per gallon from a year ago).