Industrial Output, Crude Stockpile, Gas Inventory: 3 Things to Watch
Investing.com
Published Sep 14, 2021 03:14PM ET
By Dhirendra Tripathi
Investing.com -- Stocks fell after data that showed inflation in August ran cooler than expected, setting off a new wave of worries about how the Federal Reserve will respond.
Officials from the central bank meet next week and are expected to discuss the timing of the taper -- when the bank will start to pare back its massive monthly bond purchases that helped blunt the economic hit from the pandemic last year.
The timing of that decision has made for a choppy month in the markets, with investors going back and forth from euphoria over the progress of the recovery to fear that the good times are about over.
The Labor Department said consumer prices rose at their slowest pace in six months in August. July's reading was also a slight slowdown from the prior month. All along, Fed officials have said they believed any inflation from the reopening would be transitory.
Consumer prices for everyday goods are still high, however. And last week we had even stronger readings on producer price inflation.
Next up come retail sales figures, but not until Thursday.
Earnings season is largely behind us, but there is a smattering of other data of note this week. Here are three things that could affect markets tomorrow:
1. Industrial output
Growth in industrial output is likely to have cooled down to 0.4% in August from 0.9% in July, according to analysts tracked by Investing.com. The data are released at 9:15 AM ET (1315 GMT).
2. U.S. crude inventories
With yet another storm slamming the Gulf coast region this week, oil has been in the spotlight. Crude oil inventories in the U.S. for last week are seen eroding by more than double the prior week’s level. Analysts expect a draw of 3.903 million barrels after falling by 1.529 million barrels in the earlier week. The Energy Information Administration releases the data at 10:30 AM ET.
3. Gasoline inventories
Gasoline inventories, too, are seen lower but the pace of the decline is likely to have slowed considerably. Analysts tracked by Investing.com expect a draw of 1.967 million barrels for the week compared to the bigger draw of 7.215 million barrels a week earlier.
Get The News You Want
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.