Morning all.. Wall St closed lower as global stocks fell with the S&P down .066% but off its session lows.. Asia was also soft with the Nikkei down nearly 1% again. Oil prices still dominating. So far in December WTI oil has only rallied on 2 days and it’s not been much better for US equities, with the S&P 500 closing higher on only 2 days this month as well so far. The moves for both WTI (-0.37%) and Brent (-1.15%) yesterday was another hugely volatile day for the complex. The latter at one stage tumbled below $40 shortly after lunch, plummeting as much as 4% from its peak to hit an intraday low of $39.81/bbl which is near those February 2009 lows. Prices swiftly reversed however and in fact traded back up near its highs for the day again in a matter of hours, before then settling down into the close. Overnight oil has rallied over 1.5%. China data still weak.. After the soft data so far, there’s some better news out of the November CPI reading where inflation ticked up two-tenths from October to +1.5% yoy (vs. +1.4% expected), albeit still below the levels seen in July and August. PPI stayed unchanged at -5.9% yoy (vs. -6.0% expected), the 45th consecutive month of deflation at the factory gates. The higher than expected numbers have given a lift to Chinese equity markets this morning where the Shanghai Comp is currently +0.33%. Part of that however might be a reflection of the latest Yuan fix, with the onshore currency set at the weakest level since 2011 this morning after a 0.1% weakening. This morning we get Swedish household consumption and that’s it.. very little data today..