Crude Oil futures, which were much higher earlier in the session, fell to lows following the weekly inventory data at 10:30 a.m. ET. Oil inventories rose 4 million barrels last week, double the expected rate. Elsewhere in the oil patch, Natural Gas futures are higher, up 1.4% on the session.
Gold futures are down 0.3%, while Treasury futures are flat on the session. The 30-year bond yields 3.13%, and the 10-year note yields 1.97%. A 5-year note yields 0.85%. Treasury futures are likely to see increased volatility later at Bernanke’s presser.
What will the B-man say? Our best guess is a whole lotta nothing, which would be good for markets.