Stock Market Overview:
Stock futures are strong on Thursday as the market does the usual about-face from whatever happens on Fed day!
Gary’s Thoughts: Facebook a huge help. It has helped the NDX but also enabled but Google and Amazon to get back the large losses from yesterday. Hey…you play this! Just remember, the low from last Wednesday is still in but recent action is almost impossible to gauge or game. There is still zero leadership except for a few defensive areas. Also remember, the rest of the week is end of the month and end of a gross month.
As far as Facebook, those that know us know we love strong gaps to the upside off of strong earnings…but that is in bull markets. Bear market gaps tend to be different as they tend to be nothing more than n opportunity for big sellers to get out. We as always, will let the stock decide. Just keep those thoughts in mind. We have no position in the stock as of this second.
Durable Goods Orders 8:30 AM ET
Jobless Claims 8:30 AM ET
Bloomberg Consumer Comfort Index 9:45 AM ET
Pending Home Sales Index 10:00 AM ET
EIA Natural Gas Report 10:30 AM ET
Kansas City Fed Manufacturing Index 11:00 AM ET
Fed Balance Sheet 4:30 PM ET
Money Supply 4:30 PM ET
Highlights Of The Day:
- Stocks sell off hard after the Fed meeting
- BlackRock’s Fink Says 400 Energy Firms May Not Survive Cheap Oil
- U.S. to Halt Blood Donation by Travelers to Zika-Affected Areas
Gary’s Thoughts: Really!