Afternoon Reading – December 2, 2010
Jean-Claude Trichet and ECB doing nothing, QE, central bankers and World Cup hosts…
Archive for December 2nd, 2010
Pending Home Sales Index Rose 10.4% In October
Pending home sales index rose 10.4% in October vs. fall of 1.8% in September. On year level, the index is down 20.6%,
ECB Disappoints
No real change in ECB policy and measures.
U.S. Initial Jobless Claims At 436.000; Up 26.000
nitial jobless claims in the U.S. were reported at 436.000. The consensus was at 424.000, last week revised (up 3.000) reading was at 410.000.
Improving, but slower than markets expects.
Morning Reading – December 2, 2010
QE2 bad for emerging markets?; Spain debt problems, ECB bond buying or not; Improving employment in the U.S. and top economic forecasters.
U.S. Petroleum Weekly – December 2, 2010
Crude oil stocks rose 1.0 million barrels; Gasoline stocks were up 0.6 million barrels; Distillate stocks were down 0.2 million barrels; Propane/propylene stocks fell 1.1 million barrels; Other oils stocks decreased 3.5 million barrels; Total crude oil and petroleum stocks were unchanged for the week.
Refinery utilization fell 2.9% to 82.6%.
Implied crude oil demand fell 0.5 million barrels.
Crude oil and petroleum product net imports fell 0.9 million barrels to 8.5 million barrels.
No other comment than that demand is week, stocks are high since the start of last recession and this is not changing or improving.