Market Commentary

Economic indicators over the recent period provide a nuanced view of U.S. conditions as the year closed. Crude oil inventories showed mixed results at the end of the year, with a small increase followed by a decline. However, product stockpiles — like gasoline and distillates — rose sharply, reinforcing the view that supply remains ample.

It was a shortened week due to the Christmas holiday, but several key economic reports were released that provided a snapshot of current conditions.

Last week’s economic data offered a concentrated look at a U.S. economy in transition, with headline numbers masking deeper shifts beneath the surface.