WTI quickly down to $74.00 I don’t see any headlines behind this latest drop, but I’m going to keep looking. WTI crude just took a dive down to $74.00 from $75.20.
The May factory report Some very good numbers here but the risk is that the numbers were inflated by orders ahead of pending or threatened tariffs.
Data from the Census Bureau coming up The main US data point for the day is coming out at the top of the hour. Factory orders are forecast to be flat after a 0.8% decline in April.
More auto sales data Fiat Chrysler is the second of the Big-3 to report sales and, like Ford, also reported a small beat. The Dodge and Jeep lines were the big winner with Fiat and Chrysler-braded vehicles struggling.
Going for 4 days in a row higher The major US stock indices are opening with early gains. The Dow 30 stocks are leading. The Nasdaq is up, but is lagging: The Stock market will close at 1 PM Eastern time and will be closed on Wednesday as well in observance of the Fourth of…
Canada June manufacturing survey data The thinking behind the survey is that tariffs on aluminum and steel caused a surge in orders and a buildup in inventories.
Ford kicks off the auto sales data Overall sales were a slight miss but one good sign was in the mix with F-Series trucks up 4.9% in the first half compared to a year ago and with an average transaction price of $46,800.
The calendar is a bit more lively Monthly US auto sales numbers will be trickling out from manufacturers today, leading up to the final tally at the end of the US day. Total sales are expected at a 17 million annual rate, that’s up 300K from last June as the consumer keeps on rolling.
Micron shares tumble.
What’s coming up in North American trading Canada is back from a holiday to see a small improvement in the loonie as the US dollar broadly retreats after the reversal in the yuan in Asia. The lone Canadian data point is the June Markit manufacturing PMI at 1330 GMT (9:30 am ET).