Before the Closing Bell

Oil prices climb to $72.70 a barrel, fresh 2009 highs after International Energy Agency forecasted the increasing demand for oil in 2009.

Gold and silver are trading higher today, up 0.27% and 1.45% respectively.

Stocks remain strong today although it seems to be stuck in the 950-953 range. It is up 12.78 points at 951.93 at this hour before the closing bell.

Business Inventories, an important indicator of the near-term direction of production, data came out worse than the consensus expectations. The consensus estimated a 0.8% decline in the inventories while the actual numbers came to 1.1% decline. Investors did not react to the data.

30-year bond action, which stopped at 1pm on the clock, showed a strong demand for the Treasuries. The awarded yield was 4.720%. Total amount: 11 billion.

There isn't much to talk about tomorrows economical calendar. We have the import and export prices data coming out at 8.30am. Import and export prices are an indication of inflationary inclination for internationally traded products. Consumer sentiment, a survey conveyed by University of Michigan, which questions 500 households about their current financial conditions, will be releases at 9.55am.