Stock futures are quiet ahead of Friday’s open as the market pauses to digest this week’s strong rally. GDP comes out at 8:30 and Yellen speaks at 1:15, just in time ahead of the long weekend. Stocks will be closed on Monday for Memorial Day.
Gary’s Thoughts: The positive bias continues. Have a great 3 day weekend.
- GDP 8:30 AM ET
- Corporate Profits 8:30 AM ET
- Consumer Sentiment 10:00 AM ET
- Baker-Hughes Rig Count 1:00 PM ET
- Janet Yellen Speaks 1:15 PM ET
- Japan Said to Push to Add ‘Crisis’ Language to G-7 Communique
Gary’s Thoughts: Crisis? What crisis?
- Pending Sales of U.S. Existing Homes Rise by Most Since 2010
Gary’s Thoughts: Ping pong, back and forth!
Stocks were relatively quiet on Thursday as investors digested the latest round of economic data and Tuesday and Wednesday’s strong rally. Weekly jobless claims slid by 10k to 268k, beating estimates for 275k. Durable goods rose 3.4%, beating estimates for 0.3%. Meanwhile, pending home sales, jumped 5.1%, easily beating the Street’s forecast for 0.8%.
Gary’s Thoughts: Snore…but that was and is one heck of a positive bias into end of month and pre-holiday.
1. Market Wrap
2. Gary breaks down Thursday’s quiet action for you
3. Find out what areas of the market are on Gary’s radar