Last week started out ugly in the crude oil market. After trading to highs of $51.42 per barrel on the active month December NYMEX futures contract, the price moved lower in almost a straight line. Last Tuesday, the price moved to lows of $42.58, and it looked like it was on a path for contract lows at $39.22 and even the continuous contract low of $37.75 established on August 24.
European stocks advanced as better-than-expected manufacturing in the region outweighed disappointing Chinese output data.
Britain's manufacturers bounced back in October, as a rise in new orders and "surging growth" at larger companies pushed up activity at one of the fastest rates on record.
Next Trading Day's Important Events
- USDJPY: 120.59
- EURUSD: 1.1033
- S&P 500: 2,079.36
- NASDAQ : 5053.7