Markets To Watch Today

Crude Oil: November Crude Oil contracts are trading mixed in the pre-market session. Traders are waiting for the release of the U.S. Fuel Inventories Report due later this morning. Crude Oil inventories are expected to gain about 500,000 barrels, while stocks of distillates are expected to gain about 400,000 barrels a day. November Crude Oil futures are currently trading up 13 cents at $57.72 a barrel.

Wheat: December Wheat futures closed yesterday’s trading limit-up once again, as the bull market continues. The overnight session saw several large swings in December Wheat on the eCBOT, as the contract went limit-up to $551.00 a bushel early in the session, before selling-off. The December Wheat contract on the eCBOT ended the overnight session up 3 cents at $534.00 bushel. The July Wheat contract ended the overnight session down 3 ¼ cents at $440.75 a bushel.

S&P: December S&P 500 futures are trading higher in pre-market trading, as traders react to positive earnings and dropping Crude Oil prices. Strong earnings were reported this morning from Costco Wholesale Corp., Harley-Davidson Inc., and PepsiCo Inc. Crude Oil futures are also trading lower in the overnight session. December S&P 500 futures are trading up 3.60 points, at 1362.70.