OPEC reduced crude production in November to the lowest level in more than two years as output dropped below the organization’s 30 million barrel-a-day ceiling for a third month.
Equities continue to press higher as the cash S&P reached a new record in yesterday's session. The major focus remains the FOMC meeting next week, where an increasing number of analysts believe the Fed will begin scaling back its bond purchases.
The stock market could use a healthy correction soon, before prices start rising at an unsustainable pace.
Tomorrow morning markets will react to the release of the November unemployment number. This release will be watched very closely as market participants look for clues for when the Fed might taper its $85 billion a month bond buying program.