How did we get here: The Week Ahead – TheTradersWire

How did we get here: The Week Ahead

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How did we get here: The Week Ahead

by Bill McBride on 4/15/2018 07:27:00 PM

Monday:
• At 8:30 AM ET, Retail sales for March will be released.  The consensus is for a 0.4% increase in retail sales.• Also at 8:30 AM, The New York Fed Empire State manufacturing survey for April. The consensus is for a reading of 18.2, down from 22.5.

• At 10:00 AM, The April NAHB homebuilder survey. The consensus is for a reading of  70, unchanged from 70 in March. Any number above 50 indicates that more builders view sales conditions as good than poor.

• Also at 10:00 AM, Manufacturing and Trade: Inventories and Sales (business inventories) report for February.  The consensus is for a 0.6% increase in inventories.

From CNBC: Pre-Market Data and Bloomberg futures: S&P 500 are up 18, and DOW futures are up 185 (fair value).

Oil prices were up over the last week with WTI futures at $67.14 per barrel and Brent at $72.22 per barrel.  A year ago, WTI was at $53, and Brent was at $55 – so oil prices are up about 30% year-over-year.

Here is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are at $2.71 per gallon. A year ago prices were at $2.40 per gallon – so gasoline prices are up 31 cents per gallon year-over-year.

by Bill McBride on 4/15/2018 07:27:00 PM

Published at Sun, 15 Apr 2018 23:27:00 +0000

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