Crude stocks fell
The American Petroleum Institute said that U.S. crude stocks fell far more than expected, sending Brent crude (LCOc1) into a 2.6 percent fall.
Changes in commodity prices and bond markets may be creeping back in fear of economic recession.
Exports from Japan in October further fanned those concerns, tumbling at their fastest rate in three years, with exports to China and the United States experiencing great falls.
But officials of the Federal Reserve have indicated that for now there will be no further easing, a message that the U.S.
central bank could repeat later in the day it publishes minutes from its last meeting. Markets are now pricing in a mere 0.8% risk of a rate cut in December.
Dour store predictions Home Depot (NYSE: HD) and Kohl’s have exacerbated the U.S. consumer spending issues that have been around so far.