Stocks reclaimed a
small portion of Monday's decline in choppy trade on Tuesday as investors began
gearing up for the Fed's latest policy directive, which will cross the wires on
Wednesday afternoon. The S&P 500 advanced 0.2%, trimming its weekly loss to
1.3%, while the Nasdaq climbed 0.3%, and the Dow jumped 0.5%.
Today after the close the following companies are scheduled to report: DXPE, LAUR, FDX, SCS, AIR.
Futures are higher after hours: S&P 500 futures are +3.50 from the fair value of 2720 and Nasdaq100 futures are +10.75 from fair value of 6907.
Tomorrow morning, economic reports scheduled to be released include: MBA Mortgage Applications Index (07:00am ET, consensus NA vs. 0.9% in the prior week), Current Account Balance (08:30am ET, consensus -$125.0B vs. -$100.6B in the prior quarter).
Tomorrow before the open the following companies are scheduled to report earnings: PQG, ATU, GIS, WGO.
Looking at the energy markets: The weekly API crude oil storage data for the week ending Mar 16 was released today, shows a surprise draw:
- The API reported a draw of 2.739 million barrels of crude oil, for the week ending Mar 16, versus a build of 1.156 million last week
- Gasoline showed a draw of 1.063 million barrels and distillates showed a draw of 1.926 millionbarrels
- Cushing build of +1.644 million
- Apr crude oil futures are up another $0.42/barrel due to the API oil data (Apr crude oil is now +$1.71 at $63.84/barrel, vs. its $63.42/barrel settlement price)
- Tomorrow morning, the EIA will release its own weekly oil storage data at 10:30am ET