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Just a Bit More Evidence For War Headlines and Oil Prices
Just a Bit More Evidence For War Headlines and Oil Prices
Bonds were sideways to slightly weaker overnight, but they're rallying back to unchanged levels in the 8am hour following favorable headlines regarding the Iran war. Iranian officials floated the possibility of concessions in exchange for sanctions relief and separate headlines suggested Washington approved a draft MOU. Certainly not the first time we've seen such headlines, but oil prices are clearly responding, and much like yesterday, bonds seem at least somewhat willing to start rekindling their old fling with oil price correlation.
Little-Moved By Huge Drop in Oil and Tech Stocks
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Tuesday, Nov 03 | |||||
| 6:00AM | Nov IBD economic optimism | Nov | 48.5 | 46.2 | 46.8 |
| 10:00AM | Sep Factory orders mm (%) | Sep | 1.8% | 1.2% | 0.1% |
| 10:00AM | Sep JOLTs Job Quits (ml) | Sep | 3.365M | 3.066M | |
| 10:00AM | Sep USA JOLTS Job Openings (ml) | Sep | 7.523M | 7.10M | 7.079M |
| 11:30AM | 6-Week Bill Auction (%) | 3.950% | |||
| 2:00PM | Oct Total Vehicle Sales (ml) | Oct | 15.9M | 16M | |
| Wednesday, Nov 04 | |||||
| 7:00AM | Oct/30 Mortgage Market Index | Oct/30 | 195.0 | ||
| 7:00AM | Oct/30 MBA Refi Index | Oct/30 | 516.8 | ||
| 7:00AM | Oct/30 MBA Purchase Index | Oct/30 | 134.1 | ||
| 8:15AM | Oct ADP jobs (k) | Oct | 69K | 90K | |
| 8:30AM | Sep Trade Gap (bl) | Sep | $-108B | $-105.6B | |
| 9:45AM | Oct S&P Global Services PMI | Oct | 57.9 | 58.8 | |
| 9:45AM | Oct S&P Global Composite PMI | Oct | 57.6 | 58.4 | |
| 10:00AM | Oct ISM Biz Activity | Oct | 56.5 | ||
| 10:00AM | Oct ISM Services Employment | Oct | 50.1 | ||
| 10:00AM | Oct ISM Services New Orders | Oct | 59.8 | ||
| 10:00AM | Oct ISM Services Prices | Oct | 74.0 | ||
| 10:00AM | Oct ISM N-Mfg PMI | Oct | 54.8 | 54.9 | |
| 10:30AM | Oct/30 Crude Oil Inventory (ml) | Oct/30 | -1.892M | ||
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