Wall Street went on a
roller coaster ride on Wednesday as investors tried to extend the new year
rally, but struggled to justify further gains.
Futures are higher after hours: S&P 500 futures are +1.75 from fair value of 2839 and Nasdaq futures are +2.75 from fair value of 6931.
Notable companies reporting earnings after the close: RMAX, TAX, LRCX, BXS, CCI, CNS, CVBF, HXL, MBFI, RLI, SLG, TCBI, URI, WHR, AMP, DFS, BGG, CUBI, DLB, ETH, FFIV, FTI, LM, LVS, NFBK, RJF, SEIC, TER, VAR, XLNX, AZPN, CLS, F.
Tomorrow morning, companies expected to report earnings include: MKC, ISCA, EWBC, ADS, NVR, RCI, STBA, CLF, UFI, ABTX, ALK, BIIB, CAT, FCAU, JBLU, MMM, SHW, AIT, AVX, BANC, CCMP, FCX, NOC, PX, STM, TAL, VLY, AAL, AEP, AVT, CELG, CFR, CRR, DLX, GWB, LANC, LLL, LUV, LYTS, ORI, RTN, UNP, OSK, VIVO.
Economic data out tomorrow morning before the open: Initial Claims (Consensus 240K, vs 220K in the prior week), Continuing Claims (Consensus NA, vs 1952K in the prior week), New Home Sales (Consensus 679K, vs 733K in the prior month), Adv. International Trade in Goods (Consensus -$68.5B, vs -$69.7B in the prior month), Adv. Wholesale Inventories (Consensus 0.3%, vs 0.7% in the prior month).
In the energy market, the EIA released its weekly oil storage data this morning...
The EIA reports that for the week ending January 24th:
- Crude oil inventories had a draw of 1.1 mln barrels
- Gasoline inventories had a build of 3.1 mln barrels
- Distillate inventories had a build of 0.6 mln barrels