Early Close, Oil Report: What to Watch on Wall Street Dec. 24

Wednesday, December 24th is Christmas Eve, which means both the stock and bonds market will close early for the holiday. There are no earnings coming out, but we note two economic data to keep an eye on. Weekly jobless claims and the Energy Information Administration's petroleum status report will be released. The EIA is set to provide petroleum or crude oil inventories, which helps determine prices for petroleum products. Concerns over the excess supply and weak demand of oil has been dragging prices down, as the value of brent has nearly halved in the past six months. TheStreet's Kurumi Fukushima reports from New York.