Stock futures are a little lower ahead of Friday’s open as investors digest the latest round of earnings and economic data. The Bank Of Japan decided to not make any changes to monetary policy which disappointed some investors (who were looking for more easy money).
Gary’s Thoughts: But Japan announces they will buy up more stock ETFs and amazingly says they can take negative rates even lower. THEY WILL NEVER BE ABLE TO NORMALIZE. WE WILL NEVER BE ABLE TO NORMALIZE…AS MARKETS HAVE BECOME USED TO AND ADDICTED TO THIS MANIACAL MONETARY POLICY.
And GOOG and AMZN have gaps to upside this morning. Both with good numbers. Will be very interested in seeing whether the gaps are held.
- GDP 8:30 AM ET
- Employment Cost Index 8:30 AM ET
- John Williams Speaks 9:30 AM ET
- Chicago PMI 9:45 AM ET
- Consumer Sentiment 10:00 AM ET
- Baker-Hughes Rig Count 1:00 PM ET
- Rob Kaplan Speaks 1:00 PM ET
- Farm Prices 3:00 PM ET
- DNC Convention is finally over…
Gary’s Thoughts: 102 days to election!
- Apple, Netflix, Facebook, Google and Amazon have now all reported earnings…
Gary’s Thoughts: Overall…earnings not good…but great companies continue to be great.
Stocks ended mixed on Thursday as investors digested the latest round of earnings and economic data. Economic data was mixed. Jobless claims came in at 266, compared to the Street’s estimate for 264k. The Kansas City Manufacturing index came in at negative -6, missing estimates for positive 2. Overnight, The Bank of Japan is scheduled to announce its decision on monetary policy and Friday morning U.S. GDP will be announced. Alphabet (GOOG) and Amazon (AMZN) were some of the stocks that reported earnings after the bell.
Gary’s Thoughts: Since many asking…Facebook gap sold off…AAPL gap holding for the most part. FB into highs…AAPL has tons of resistance to deal with. Facebook numbers incredible…AAPL numbers terrible. Go figure!