The stock market earned a hard-fought victory on Wednesday,
boosted by the afternoon release of the FOMC minutes from the May meeting,
which came in more dovish than expected, helping the market overcome a lower
start to the session. The Dow Jones Industrial Average climbed 0.2%, the
S&P 500 advanced 0.3%, and the tech-heavy Nasdaq Composite jumped 0.6%. Small
caps also ended the day higher, with the Russell 2000 adding 0.2%.
Today after the close the following companies were scheduled to report earnings: MOD, BRS, NTAP, SNPS, CPRT, LB, WSM, LASR.
Futures are slightly lower after hours: S&P 500 futures are -3 from fair value of 2,733 and Nasdaq100 futures are -1 from fair value of 6,958.
Tomorrow morning, economic reports scheduled to be released include: Initial Claims (08:30am ET, Consensus 220K), Continuing Claims (08:30am ET, Consensus NA), FHFA Housing Price Index (09:00am ET, Consensus 0.6%).
Tomorrow before the open the following companies are scheduled to report earnings: MCK, THR, LXFT, MDT, SAFM, BRC, HRL, TTC, RY, BBY, TD, WUBA.
Looking at the oil market:
EIA petroleum data for the week ended May 18:
- Crude oil inventories had a build of 5.8 million barrels
- Gasoline Inventories has a build of 1.9 million barrels
- Distillate Inventories had a draw of 1.0 million barrels
July WTI crude oil futures settles the day $0.33 lower at $71.85/barrel.