Economic Calendar For Today 08/06/08
Source: http://feeds.feedburner.com/~r/StocksOptionsBlog/~3/357347509/Posted on Wednesday, August 6th, 2008 | In Market Commentary, Stocks to Watch
The only major economic reports we will be getting today are Crude Inventories due out at 10:35 AM, and Consumer Credit, due out at 3:00 PM. While the calendar is relatively light, we still have the potential for it to move the markets substantially.
With stocks having rallied strongly yesterday, with all major indices rising at least 2.8%, under the right conditions, we could see a strong follow-through today and the Crude Inventories could provide the impetus for that.
If the Crude Inventories report, which is being released by the U.S. Energy Department’s Energy Information Administration is bearish, we will see a continued drop in oil prices, which could propel stocks higher. On the other hand, a bullish report would send crude prices surging, sending stocks lower.
Tags: oil prices, economic calendar, crude inventories report
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 About Daniel Shepard (http://www.navivest.com/blog)
Daniel Shepard is an Equity Analyst with Navivest, a stocks and options trading advisory services company that provides trading ideas on a subscription basis. |
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