Nothing new from Kocherlakota, who repeated that the Fed is losing credibility on its inflation mandate.

Next on the calendar is US industrial production at 9:15 am. At 10 am it’s the U Mich consumer sentiment survey. Then it’s onto Fedspeak with Williams at 11 am and Bullard at 1:10 pm to wrap it up.

Another report that’s been getting some traction in the oil market lately is the Baker Hughes rig count at 1 pm.