Stock Market Overview:
U.S. stock futures are up a little ahead of Friday’s open and always fun jobs report. This has been a brutal week on Wall Street and the market is deeply oversold and way overdue to bounce at some point. Gary has expressed caution and has been telling you about how the market has been getting weaker not stronger over much of 2015.
Greetings from snowy, windy and freezing Denver. Hope you are well. We will have our usual award-winning market report for you over the weekend. As we write this, futures are up nicely as we await the fake job’s number.
Yesterday, we told you the market had to be a day or two away from a good bounce/rally. We suspect it is at hand but frankly, we don’t know if they sell this strong open or keep it going. We just know that the norm here would be a decent rally to work off some of the 1250 point Dow drop we just saw in only six days. It is very important to recognize the biggest up days markets experience occur during bear phases.
- Employment Situation 8:30 AM ET
- Wholesale Trade 10:00 AM ET
- John Williams Speaks 11:30 AM ET
- Baker-Hughes Rig Count 1:00 PM ET
- Jeffrey Lacker Speaks 1:00 PM ET
- Consumer Credit 3:00 PM ET
- Treasury STRIPS 3:00 PM ET
Highlights Of The Day:
- China wants to devalue its currency even further to stimulate their economy. They doing a full court press to try and save their market from falling…
Gary’s Thoughts: We thought China was doing so well. We think they may be in recession regardless of what they tell us.
- Powerball jackpot hits $700M, largest US prize ever
Gary’s Thoughts: If we win, we will be writing you from Bora Bora.
- Tech start-up funding plunged in fourth quarter
Gary’s Thoughts: oF COURSE IT HAS.
- Copper Prices Slide to Lowest in Nearly Seven Years
Gary’s Thoughts: Demand…yikes!