UPDATE: Crude Inventory 7.1M Barrels vs 2.8M Expected Oct 22, 2014 10:33AM

(Updated - October 22, 2014 10:33 AM EDT)

Crude Inventory for the week ending Oct. 17 increased 7.1 million barrels vs a gain of 2.8 million expected.

Cushing inventory grew 953 thousand barrels.

Gasoline inventory declined 1.3 million barrels vs a decline of 1.56 million expected.

Distillate inventory grew 1.05 million barrels vs a declined of 1.1 million expected.

Traders are watching energy futures and ETFs like United States Oil Fund (NYSE: USO).


UPDATE: Crude Inventory 7.1M Barrels vs 2.8M Expected Oct 22, 2014 10:33AM

(Updated - October 22, 2014 10:33 AM EDT)

Crude Inventory for the week ending Oct. 17 increased 7.1 million barrels vs a gain of 2.8 million expected.

Cushing inventory grew 953 thousand barrels.

Gasoline inventory declined 1.3 million barrels vs a decline of 1.56 million expected.

Distillate inventory grew 1.05 million barrels vs a declined of 1.1 million expected.

Traders are watching energy futures and ETFs like United States Oil Fund (NYSE: USO).


Sept. CPI 0.1% vs 0.0% Expected, Ex-food and Energy 0.1% vs 0.1% Oct 22, 2014 08:31AM

Sept. CPI 0.1% vs 0.0% Expected, Ex-food and Energy 0.1% vs 0.1%

UPDATE - More from the Bureau of Labor Statistics:

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1 percent in September on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 1.7 percent before seasonal adjustment.

Increases in shelter and food indexes outweighed declines in energy indexes to result in the seasonally adjusted all items increase. The food index rose 0.3 percent as five of the six major grocery store food group indexes increased. The energy index declined 0.7 percent as the indexes for gasoline, electricity, and fuel oil all fell.

The index for all items less food and energy increased 0.1 percent in September. Along with the shelter index, the index for medical care increased, and the indexes for alcoholic beverages and for personal care advanced slightly. Several indexes were unchanged, and the indexes for airline fares and for used cars and trucks declined in September.

The all items index increased 1.7 percent over the last 12 months, the same increase as for the 12 months ending August. The 12-month change in the index for all items less food and energy also remained at 1.7 percent. The 12-month change in the shelter index has been gradually increasing, and reached 3.0 percent for the first time since January 2008. The food index has also risen 3.0 percent over the span, while the energy index has declined 0.6 percent.


MBA Mortgage Applications 11.6% vs 5.6% Prior Oct 22, 2014 07:00AM

MBA Mortgage Applications 11.6% vs 5.6% Prior


Existing Home Sales 5.17M vs 5.1M Expected; +2.4% vs +1% Expected Oct 21, 2014 10:00AM

Existing Home Sales 5.17M vs 5.1M Expected; Up 2.4% vs +1% Expected

UPDATE - More from the National Association of Realtors:

After a modest decline last month, existing-home sales bounced back in September to their highest annual pace of the year, according to the National Association of Realtors. All major regions except for the Midwest experienced gains in September.

Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 2.4 percent to a seasonally adjusted annual rate of 5.17 million in September from 5.05 million in August. Sales are now at their highest pace of 2014, but still remain 1.7 percent below the 5.26 million-unit level from last September.

he median existing-home price for all housing types in September was $209,700, which is 5.6 percent above September 2013. This marks the 31st consecutive month of year-over-year price gains.

Total housing inventory at the end of September fell 1.3 percent to 2.30 million existing homes available for sale, which represents a 5.3-month supply at the current sales pace. Despite fewer homes for sale in September, unsold inventory is still 6.0 percent higher than a year ago, when there were 2.17 million existing homes available for sale.

All-cash sales were 24 percent of transactions in September, up slightly from August (23 percent) but down from 33 percent in September of last year. Individual investors, who account for many cash sales, purchased 14 percent of homes in September, up from 12 percent last month but below September 2013 (19 percent). Sixty-three percent of investors paid cash in September.

According to Freddie Mac, after falling for four consecutive months, the average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 4.16 percent in September from 4.12 percent in August. Despite the slight increase, interest rates are 33 basis points less than a year ago (4.49 percent).

The percent share of first-time buyers continues to underperform historically, remaining at 29 percent for the third consecutive month. First-time buyers have represented less than 30 percent of all buyers in 17 of the past 18 months.

Distressed homes – foreclosures and short sales – increased slightly in September to 10 percent from 8 percent in August, but are down from 14 percent a year ago. Seven percent of September sales were foreclosures and 3 percent were short sales. Foreclosures sold for an average discount of 14 percent below market value in September (same as in August), while short sales were discounted 14 percent (10 percent in August).

Traders are watching the following stocks and ETFs:

D.R. Horton, Inc. (NYSE: DHI)
Pulte Group (NYSE: PHM)
KB Home (NYSE: KBH)
Lennar Corp. Cl A (NYSE: LEN)
Hovnanian Enterprises Inc. Cl A (NYSE: HOV)
Standard Pacific Corp. (NYSE: SPF)
Toll Brothers, Inc. (NYSE: TOL)
Ryland Group, Inc. (NYSE: RYL)
Meritage Homes Corp. (NYSE: MTH)
Beazer Homes USA, Inc. (NYSE: BZH)
SPDR S&P Homebuilders ETF (NYSE: XHB)


More Economic Data

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Oct 17, 2014 09:55AM October P Univerity of Michigan Confidence 86.4 vs 84 Expected
Oct 17, 2014 08:30AM Sept Housing Starts 1017K vs 1008K Expected, Up 6.3% MoM
Oct 16, 2014 04:00PM August Net Long Term Tick Flows $52.1B
Oct 16, 2014 11:03AM UPDATE: Crude Inventory Grows 8.9M Barrels vs 2.3M Expected
Oct 16, 2014 11:03AM UPDATE: Crude Inventory Grows 8.9M Barrels vs 2.3M Expected
Oct 16, 2014 10:30AM Natural Gas Inventory 94 bcf vs 90 bcf Expected
Oct 16, 2014 10:00AM NAHB Housing Market Index 54 vs 59 Expected
Oct 16, 2014 09:59AM Philadelphia Fed Business Outlook 20.7 vs 19.8 Expected
Oct 16, 2014 09:15AM Sept Industrial Production 1% vs 0.4% Expeted
Oct 16, 2014 08:30AM Initial Jobless Claims 264K vs 290K Expected
Oct 15, 2014 11:00AM U.S. Monthly Budget Statement $105.8B vs $90B Expected
Oct 15, 2014 10:00AM August Business Inventories 0.2% vs 0.4% Expected
Oct 15, 2014 08:31AM Sept. PPI Final Demand -0.1% vs 0.1% Expected, Ex-Food Energy 0.0% vs 0.1%
Oct 15, 2014 08:30AM Oct. Empire Manufacturing 6.17 vs 20.25 Expected
Oct 15, 2014 08:30AM Sept. MoM Retail Sales Advance -0.3% vs -0.1% Expected
Oct 15, 2014 07:00AM MBA Mortgage Applications 5.6% vs 3.8% Prior
Oct 10, 2014 08:30AM Sept. MoM Import Price Index -0.5% vs -0.7% Expected
Oct 9, 2014 10:30AM Natural Gas Inventory 105 bcf vs 109 bcf Expected
Oct 9, 2014 10:00AM August MoM Wholesale Inventories -0.7% vs 0.3%
Oct 9, 2014 08:30AM Initial Jobless Claims 287K vs 295K Expected
Oct 8, 2014 10:34AM UPDATE: Crude Inventory 5M Barrels vs 1.68M Expected
Oct 8, 2014 10:34AM UPDATE: Crude Inventory 5M Barrels vs 1.68M Expected
Oct 8, 2014 07:32AM Markets Quiet Ahead of FOMC Minutes
Oct 8, 2014 07:00AM MBA Mortgage Applications 3.8% vs -0.2% Prior
Oct 7, 2014 03:01PM August Consumer Credit $13.5B vs $20B Expected
Oct 7, 2014 10:01AM JOLTS Job Openings 4.84M vs 4.7M Expected
Oct 7, 2014 09:03AM U.S. Comp Sales Rose 5.4% Last Week - Redbook
Oct 6, 2014 07:04AM Overnight World Market Headlines and the Day Ahead
Oct 3, 2014 10:00AM ISM Non-Manufacturing Index at 58.6% in Sept.; Business Activity Pressures Gains
Oct 3, 2014 08:35AM Nonfarm Payrolls Expanded 248K in Sept., Outpacing Views on Services, Retail, and Health Care Gains
Oct 3, 2014 08:32AM August Trade Balance -$40.1B vs -$40.8B Expected
Oct 3, 2014 08:35AM Nonfarm Payrolls Expanded 248K in Sept., Outpacing Views on Services, Retail, and Health Care Gains
Oct 2, 2014 10:30AM Natural Gas Inventory 112 bcf vs 106 bcf Expected
Oct 2, 2014 10:01AM August Factory Orders -10.1 vs -9.5 Expected
Oct 2, 2014 09:45AM ISM New York 63.7 vs 57.1 Prior
Oct 2, 2014 08:48AM Initial Jobless Claims 287K vs 297K Expected
Oct 2, 2014 08:48AM Initial Jobless Claims 287K vs 297K Expected
Oct 1, 2014 05:06PM Capitala Finance (CPTA) Files $500M Mixed Shelf
Oct 1, 2014 10:32AM UPDATE: Crude Inventory -1.4M Barrels vs 925K Expected
Oct 1, 2014 10:32AM UPDATE: Crude Inventory -1.4M Barrels vs 925K Expected
Oct 1, 2014 10:00AM August Construction Spending -0.8% vs 0.5% Expected
Oct 1, 2014 10:00AM ISM Manufacturing 56.6 vs 58.5 Expected
Oct 1, 2014 09:45AM Markit Manufacturing PMI 57.5 vs 57.9 Expected
Oct 1, 2014 08:15AM ADP Employment Change 213K vs 205K Expected
Oct 1, 2014 07:00AM MBA Mortgage Applications -0.2% vs -4.1% Prior
Sep 30, 2014 10:00AM Sept. Consumer Confidence Index 86 vs 92.5 Expected
Sep 30, 2014 09:53AM UPDATE: September Chicago Purchasing Manager 60.5 vs 62 Expected
Sep 30, 2014 09:53AM UPDATE: September Chicago Purchasing Manager 60.5 vs 62 Expected
Sep 29, 2014 10:30AM Dallas Fed August Manf. Activity 10.8 vs 10.5 Expected
Sep 29, 2014 10:00AM August MoM Pending Homes Sales -1% vs -0.5% Expected
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