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Monday, July 05, 2021

Tuesday: ISM Services

by Calculated Risk on 7/05/2021 09:58:00 PM

Weekend:
Schedule for Week of July 4, 2021

Housing Inventory July 5th Update: Inventory Increased Week-over-week

Homebuilder Comments in June: “It’s not fun to be a builder anymore.”

Tuesday:
• At 8:00 AM ET, Corelogic House Price index for May.

• At 10:00 AM, the ISM Services Index for June.   The consensus is for a reading of 63.9, down from 64.0.

From CNBC: Pre-Market Data and Bloomberg futures S&P 500 are unchanged and DOW futures are up 60 (fair value).

Oil prices were up over the last week with WTI futures at $76.62 per barrel and Brent at $77.45 per barrel. A year ago, WTI was at $41, and Brent was at $43 - so WTI oil prices are UP about 90% year-over-year (oil prices collapsed at the beginning of the pandemic).

Here is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are at $3.12 per gallon. A year ago prices were at $2.18 per gallon, so gasoline prices are up $0.94 per gallon year-over-year.