Stock Market Overview:
U.S. stock futures were lower but turned higher before Thursday’s open as investors try to recover from Wednesday’s strong sell off. Keep in mind, the market is very oversold and way overdue to bounce at some point. The fact that it refuses to bounce illustrates how weak the market is right now. Gary has expressed caution and has been telling you about how the market has been getting weaker not stronger over much of 2015 and has nailed it again for you in 2016.
Gary’s Thoughts: Earning’s season is at hand. One has to think that maybe reactions would be better than usual after a 1600 point Dow drop in last than 2 weeks of trading. Markets are now overdue for some good bounces but could have said that 3 days ago.
- James Bullard Speaks 8:15 AM ET
- Jobless Claims 8:30 AM ET
- Import and Export Prices 8:30 AM ET
- Bloomberg Consumer Comfort Index 9:45 AM ET
- EIA Natural Gas Report 10:30 AM ET
- Fed Balance Sheet 4:30 PM ET
- Money Supply 4:30 PM ET
Highlights Of The Day:
- Stocks Plunge On New Round of Selling On Wednesday
Gary’s Thoughts: That was gross yet too complacent. Need some panic to end this deluge for now.
- Sean Penn lied about ‘El Chapo’ trafficking claim: lawyer
Gary’s Thoughts: Go back to bad movies!
- Al Jazeera to cease U.S. operations by April end
Gary’s Thoughts: Who?