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CPI, oil inventories, and federal budget balance in focus Wednesday

Published 11/12/2024, 06:02 am
© Reuters

As traders approach another pivotal day for financial markets, a series of crucial economic data releases that could sway market dynamics are expected on Wednesday, December 11, 2024. The Consumer Price Index (CPI), Core CPI, EIA Crude Oil Inventories, and Federal Budget Balance are among the key reports that will be closely watched by investors and analysts alike.

Major Economic Events to Watch

• 8:30 AM ET - CPI (Nov): Expected 0.3%, Previous 0.2%. Measures change in consumer goods and services prices.

• 8:30 AM ET - CPI (YoY) (Nov): Expected 2.7%, Previous 2.6%. Year-over-year change in consumer prices.

• 8:30 AM ET - Core CPI (Nov): Expected 0.3%, Previous 0.3%. Measures price changes excluding food and energy.

• 10:30 AM ET - EIA Crude Oil Inventories: Previous -5.073M. Weekly change in commercial crude oil stocks.

Other Important Economic Events to Watch

• 5:00 AM ET - OPEC Monthly Report: Provides outlook on crude oil market developments.

• 7:00 AM ET - OPEC Monthly Report: Second release of the day with updated information.

• 8:30 AM ET - Core CPI (YoY) (Nov): Expected 3.3%, Previous 3.3%. Year-over-year core inflation rate.

• 10:30 AM ET - EIA Weekly Cushing Oil Inventories: Previous 0.050M. Crude oil storage levels at key delivery point.

• 1:00 PM ET - 10-Year Note Auction: Previous 4.347%. Yield on 10-year Treasury notes at auction.

• 2:00 PM ET - Federal Budget Balance (Nov): Expected -$325.0B, Previous -$257.0B. Difference between government income and expenditure.

Other Economic Events to Watch

• 7:00 AM ET - MBA Mortgage Applications: Previous 2.8%. Weekly change in mortgage application volume.

• 7:00 AM ET - Mortgage Market Index: Previous 213.9. Covers all mortgage applications during the week.

• 7:00 AM ET - MBA Purchase Index: Previous 161.5. Indicator of impending home sales.

• 7:00 AM ET - Mortgage Refinance Index: Previous 498.5. Gauge of mortgage refinancing activity.

• 7:00 AM ET - MBA 30-Year Mortgage Rate: Previous 6.69%. Fixed 30-year mortgage lending rates.

• 8:30 AM ET - CPI Index, n.s.a. (Nov): Previous 315.66. Non-seasonally adjusted consumer price index.

• 8:30 AM ET - Core CPI Index (Nov): Previous 321.67. Core consumer price index.

• 8:30 AM ET - CPI, n.s.a (MoM) (Nov): Previous 0.12%. Monthly non-seasonally adjusted CPI change.

• 8:30 AM ET - CPI Index, s.a (Nov): Previous 315.45. Seasonally adjusted consumer price index.

• 8:30 AM ET - Real Earnings (MoM) (Nov): Previous 0.1%. Monthly change in inflation-adjusted earnings.

• 10:30 AM ET - Gasoline Inventories: Previous 2.362M. Weekly change in commercial gasoline stocks.

• 10:30 AM ET - EIA Weekly Distillates Stocks: Previous 3.383M. Inventory levels of distillate fuels.

• 10:30 AM ET - EIA Weekly Distillate Fuel Production: Previous 0.219M. Weekly production of distillate fuels.

• 10:30 AM ET - EIA Weekly Refinery Utilization Rates: Previous 2.8%. Percentage of operable refinery capacity utilized.

• 10:30 AM ET - EIA Refinery Crude Runs: Previous 0.615M. Amount of crude oil processed by refineries.

• 10:30 AM ET - EIA Weekly Heatoil Stock: Previous 0.242M. Inventory levels of heating oil.

• 10:30 AM ET - EIA Weekly Gasoline Production: Previous -0.248M. Weekly production of gasoline.

• 10:30 AM ET - EIA Weekly Crude Imports: Previous 1.635M. Weekly imports of crude oil.

• 11:00 AM ET - Cleveland CPI (MoM) (Nov): Previous 0.3%. Monthly CPI for Cleveland metropolitan area.

• 11:00 AM ET - Thomson Reuters (NYSE:TRI) IPSOS PCSI: Previous 55.71. Index of consumer sentiment.

For further information and the latest updates, please refer to our Economic Calendar, here.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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