Quick Overview

• The Dow-Jones industrial average had its biggest two-day rally in five years after a Federal Reserve official hinted that the central bank may lower interest rates again.
  

• The National Association of Realtors said that existing home sales fell 1.2% in October and 20.7% YoY. The median home price fell 5.1% YoY.
  

• U.S. Durable goods orders fell 0.4% in October. Excluding transport, orders fell 0.7%.
  

• The Federal Reserve's Beige book said that reports on retail spending were lackluster and real estate remained depressed.
  

• Japan retail sales rose 0.8% YoY.
  

• The U.S. Department of Energy said that:
  Supplies of crude oil fell 400,000 barrels to 313.2 million barrels.
  Supplies of gasoline rose 1.4 million barrels
  Supplies of heating oil supplies rose 1.3 million barrels.
  Refinery use rose from 87.0 to 89.4%.
  Gasoline demand rose 0.4%
  Distillate demand rose 3.7%.
  

• Argentina closed down wheat exports for five days to protect domestic supplies.