The S&P 500 gained 1.1% on Thursday to snap a
five-session losing streak. U.S.-China trade optimism and strength from tech
stocks, particularly Apple (AAPL 191.41, +4.61, +2.5%), contributed to the
broader market overcoming its morning struggles.
Companies scheduled to report earnings this afternoon: DWCH, MATW, HAYN, POST, WAIR, ESE, AMAT, JWN, NVDA, CRMT, HTHT, WSM, GLOB, SCVL, SONO.
Futures are lower after hours: S&P 500 futures are -0.75 vs. 2,731 fair value and Nasdaq 100 futures are -11.55 vs. 6,902 fair value.
Tomorrow morning, economic reports scheduled to be released include: 9:15am ET: Industrial Production (Consensus 0.3% vs. 0.3%% in the prior week), Capacity Utilization (Consensus 78.2% vs. 78.1% in the prior week).
Tomorrow before the open the following companies are scheduled to report earnings: HP, VIAB, FRO, SFUN.
Looking at the energy market:
Due to Monday's holiday, weekly EIA oil data was pushed forward to today, instead of yesterday.
But first, the EIA released its weekly natural gas storage data, at its usual time
at 10:30am ET today, showing a build much smaller than that of the prior week.
Natural gas inventory showed a build of 39 bcf vs a build of 65 bcf in the prior week:
- Working gas in storage was 3,247 Bcf as of Friday, November 9, 2018, according to EIA estimates. This represents a net increase of 39 Bcf from the previous week. Stocks were 528 Bcf less than last year at this time and 601 Bcf below the five-year average of 3,848 Bcf. At 3,247 Bcf, total working gas is below the five-year historical range
Then at 11am ET, the EIA released its weekly oil storage
EIA petroleum data for the week ended Nov 9:
- Crude oil inventories had a build of 10.3 million barrel
- Prior week had a build of 5.8 million barrels
- Gasoline Inventories had a draw of 1.4 million barrels
- Prior week had a build of 1.9 million barrels
- Distillate Inventories had a draw of 3.6 million barrels
- Prior week had a draw of 3.5 million barrels