Wednesday, January 10, 2007

Inventories Out; 10:30 Energy Data Up Next

Wholesale inventories surged by 1.3% in November on a broad based accumulation of stockpiles ranging from cars to farm products and petroleum. Along with the trade deficit figures, the data might actually enhance Q4 GDP, but could also hamper manufacturing in later months. More later.

Combined crude, gasoline and distillates - the forecasters are looking for a build of a little more than 3MM barrels when DOE figures arrive at 10:30 ET. Crude is trying to hold above $55.

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