Customs and Excise taxes for the fiscal year thru 7/16/208, $37.6 bln, up $3.7 bln y-o-y.
Nasdaq new all-time highs. Dow, S&P soon to follow.
API Inventory
Crude, 405.8 mln bbls, up 0.629 mln bbls. Down 17.3% y-o-y.
Gasoline, 239.5 mln bbls, up 0.5 mln bbls. Up 3.6% y-o-y. Largest y-o-y positive gap in 19 months.
Distillate, 123.4 mln bbls, up 1.7 mln bbls. Highest level since April 13. Down 18.5% y-o-y. Smallest y-o-y negative gap since week ending April 13.
These numbers are bearish, especially with crude on the defensive now and in liquidation. Still have to see tomorrow's EIA, demand, exports, etc. However, looks like more downside is likely.
