PreMarket Trading: Crude Oil Inventories

PreMarket Trading: Crude Oil Inventories

Pre-market trading activity and scheduled economic data that may have an impact on the global financial markets. ​

WORLD HEADLINES – Global stocks slipped during the overnight trading session while the dollar continued to claw back last week’s losses as investors waited Friday’s speech from Federal Reserve Chair Janet Yellen for clues on the trajectory of interest rates.

STOCKS – Asian and world stock indices succumbed to profit-taking after reaching one-year highs earlier this month, while U.S. futures pointed to a lower open on Wall Street.

BONDS – The 2-10 U.S. yield curve flattened to 78 basis points earlier on Wednesday, the flattest in a month, suggesting investors are lukewarm on what higher borrowing costs will do for the U.S. and world economy.

COMMODITIES – Oil prices fell, reversing earlier gains, after the American Petroleum Institute (API) reported on Tuesday that U.S. crude inventories rose by a surprising 4.5 million barrels last week.

CURRENCIES – The dollar index of its value against a trade-weighted basket of currencies edged up, after falling more than 1 percent last week.

ECONOMIC DATA – US Existing Home Sales due at 10:00, Crude Oil Inventories at 10:30 ET.


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