Stock Market Overview:
U.S. stock futures are plunging once again ahead of Thursday’s open. Overnight, China’s stocks plunged another 7% and were closed after circuit breakers were triggered for the second time this week. This clearly is not a good sign to see a major stock market in the world plunge and close twice in one week. Remember, stocks fell hard on Monday and Wednesday and are down substantially so far this week. Keep in mind we have the always-fun jobs report on Friday and the market remains “oversold” in the short term.
Gary’s Thoughts: This bear market did not start this week. We have highlighted it for you for months. This is just the 30% holding up the indices finally gagging. Do not believe those who missed it all and now saying it’s becuase of China.
- Chain Store Sales
- Challenger Job-Cut Report 7:30 AM ET
- Jobless Claims 8:30 AM ET
- Gallup Good Jobs Rate 8:30 AM ET
- Jeffrey Lacker Speaks 8:45 AM ET
- Bloomberg Consumer Comfort Index 9:45 AM ET
- EIA Natural Gas Report 10:30 AM ET
- Charles Evans Speaks 2:15 PM ET
- Fed Balance Sheet 4:30 PM ET
- Money Supply 4:30 PM ET
Highlights Of The Day:
- China’s stock market plunged 7% and were shut down after circuit breakers were triggered for the second time this week
Gary’s Thoughts: As stated before, you cannot curb and restrict selling and expect good things.
- Some Fed Members Saw December Rate Rise as ‘Close Call’
- Netflix Launches in 130 New Countries in Major Expansion
Gary’s Thoughts: Netflix on the moon soon.
- Wal-Mart Workers on Pistol Patrol After Law Lets Texans Tote Guns
Gary’s Thoughts: YIPPEE!
- Amazon to Sell Its Own Brand of Chips Next to Wipes, USB Cables
Gary’s Thoughts: Bet you cant eat just one.
- UnitedHealth Says New York Obamacare Plans Could Be in Trouble
Gary’s Thoughts: Obamacare is a scam, is a sham and sucks. Media refuse to report higher premiums, lower coverage, higher deductibles.