|Signs of the recession; Falling oil prices|
Later today, market participants should shift their attention to the U.S. Department of Energy's weekly report on U.S. oil and fuel inventories.
Manufacturer's orders for goods like transportation, computers and machinery fell 2.1% to a seasonally adjusted $191.8 billion, the Commerce Department said. Economists surveyed by Dow Jones Newswires had expected orders would rise 0.4%.
Attention is likely to shift to the Energy Department's weekly report at 10:30 a.m. EDT. A similar report from the American Petroleum Institute late Tuesday showed a surprise increase in inventories, sending crude futures lower in after-hours trading.
|I'm not playing fair but more people are using public transportation|
Analysts are expecting the DOE to report a 1.4 million-barrel drop in U.S. oil inventories, according to a survey by Dow Jones Newswires. Gasoline stocks are seen rising 400,000 barrels, while inventories of distillates, including heating oil and diesel, are seen rising 1.7 million barrels.