Oil inventories, OPEC meeting among key economic events due Tuesday

As traders approach another pivotal day for financial markets, a series of crucial decisions and economic data releases that could sway market dynamics are expected on Tuesday, December 10, 2024. The day's agenda includes significant events such as the OPEC meeting, the release of unit labor costs and nonfarm productivity data, as well as the closely watched API Weekly Crude Stock report.

Major Economic Events to Watch

Other Important Economic Events to Watch

• 5:00 AM ET: OPEC Meeting - Representatives from 13 oil-rich nations discuss energy markets and production levels

• 8:30 AM ET: Unit Labor Costs (Forecast: 1.9%, Previous: 0.4%) - A key indicator of consumer inflation

• 8:30 AM ET: Nonfarm Productivity (Forecast: 2.2%, Previous: 2.5%) - Measures changes in labor efficiency excluding the farming industry

• 12:00 PM ET: WASDE Report - USDA forecasts of supply-use balances for major agricultural commodities

• 12:00 PM ET: EIA Short-Term Energy Outlook - Provides forecasts and analysis of energy markets

• 1:00 PM ET: 3-Year Note Auction (Previous: 4.152%) - Indicator of government debt situation

• 4:30 PM ET: API Weekly Crude Stock (Previous: 1.232M) - Reports inventory levels of US crude oil , gasoline, and distillates

Other Economic Events to Watch

• 6:00 AM ET: NFIB Small Business Optimism (Forecast: 94.6, Previous: 93.7) - Indicates the health of small businesses in the U.S.

• 8:55 AM ET: Redbook (Previous: 7.4%) - Sales-weighted index of year-over-year same-store sales growth

For further information and the latest updates, please refer to our Economic Calendar, here.

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Source: Investing.com