U.S. Natural Gas Weekly – December 30, 2010
Working gas in storage fell 136 Bcf from previous week. The consensus was at 143 Bcf.
Storage level 44 Bcf lower than same time year ago. In short a replay of last’s year oversupply.
Archive for December 30th, 2010
Pending Home Sales Index Rose 3.5% In November
Pending home sales index rose 3.5% In November vs. revised rise of 10.1% in October. On year level, the index is down 4.9%.
Generally rising pending home sales are positive for the economy, but currently and until excess unsold housing inventory is cleared rising pending home sales index mean more foreclosed homes are being sold at depressed prices which is a sign of additional pressure on home prices.
Chicago Purchasing Managers Index For December At 68.6
Chicago Purchasing Managers Index was reported at 68.6. The consensus was at 61.0, prior reading at 62.5.
Regional manufacturing surveys signal significant improvement in industrial production in December.
U.S. Initial Jobless Claims At 388.000; Down 33.000
Initial jobless claims in the U.S. were reported right at 388.000 vs. 415.000 consensus; last week revised (up 2.000) reading was at 422.000.
First reading bellow 400.000 since July 2008; The part of the reduction probably comes from seasonal effects (it is hard to seasonally adjust the data accurately on holiday weeks), so we have to wait for a confirmation of a positive trend after holidays pass.
China HSBC/Markit PMI For December At 54.4
HSBC/Markit China PMI fell from 55.3 to 54.4.