Quick Overview

• The U.S. Department of Energy showed that YoY demand for unleaded gasoline over the past four weeks was down 2.8% -- signaling that the recent price spike has damped demand.
  
  

• The USDE said that:
  Crude oil supplies were down 300,000 barrels to 305.4 million barrels.
  Unleaded supplies gasoline were down 4.3 million barrels
  Heating oil supplies were up 400,000 barrels
  
  

• The Institute for Supply Management's index of U.S. services dropped from 65.0 to 53.3 in September, less than expected.
  

• There does not seem to be much risk of huge surge in inflation but policy-makers must be alert to potential price pressures, Kansas City Federal Reserve Bank President Thomas Hoenig said on Wednesday.
  

• Thomas Hoenig also said the U.S. economy should shake off the impact of recent hurricanes without too much trouble and enjoy strong growth next year and beyond,
  

• Tokyo's Nikkei stock average hit a new four-year intraday high before finishing the morning session slightly weaker.
  

• London inventories of copper were down 1,375 tons today to 74,975 tons, so copper is making new contract highs.
  
  

• An index of services in the U.K. decreased from 55.2 to 55.0 in September.
  

• An index of services in the Euro zone increased from 53.4 to 54.7 in September, stronger than expected.
  
  

• The Reserve Bank of Australia kept its overnight rate unchanged at 5.50