S&P 500 rallied 5.0% on Wednesday from what many believed to be extremely
oversold conditions on a short-term basis. Rebounding oil prices ($46.13/bbl,
+$3.45, +8.1%), strong holiday sales, and some short covering helped drive the
S&P 500 to its best one-day gain since March 2009.
The following companies were scheduled to report earnings this afternoon: None.
Futures are lower after hours: S&P 500 futures are -0.38 vs. fair value of 2,469 and Nasdaq-100 futures are -0.25 vs. fair value of 6,279.
Tomorrow morning, economic reports scheduled to be released include: MBA Mortgage Applications Index (Consensus 0.3% vs. 0.5% in the prior week), Initial Claims (Consensus 0.3% vs. 0.5% in the prior week), Continuing Claims (Consensus 0.3% vs. 0.5% in the prior week), FHFA Housing Price Index (Consensus 0.3% vs. 0.5% in the prior week).
The following companies are scheduled to report earnings tomorrow morning: None.
Oil and gas storage data schedule for the week: Due to the holidays, the release of the API and EIA weekly oil and gas data have been pushed forward.
Here is the current schedule for the data this week:
- Thursday, December 27:
- API data will be released at 4:30pm ET
- Friday, December 28:
- Weekly natural gas data will be released at 10:30am ET
- Weekly petroleum data will be released at 11:00am ET