The Morning Look

Market Update:

Futures are lower ahead of Thursday’s open as markets digest the Fed meeting and another round of Central Bank meetings.

Gary’s Thoughts: On or about 5/18, many fedheads were out just about guaranteeing a fed rate hike in June. That caused the dollar to spike higher and gold to break below support. In a nanosecond, all have changed their mind, sending gold to new highs. We continue to have to deal with the nonsense from the few, the few that oversaw the problems, the few that created the problems and now, we are to believe that those same few will fix the problems. We urge you to listen to our radio show from yesterday…which pretty much outlines the genesis of THIS central bank as well as central banks around the globe. We continue to believe that ultimate outcomes of easy money are never good.  We’ll keep fingers crossed. here is the link without commercials: https://ia801506.us.archive.org/3/items/160615.output/160615.output.mp3

Economic Data:

• Consumer Price Index 8:30 AM ET
• Jobless Claims 8:30 AM ET
• Philadelphia Fed Business Outlook Survey 8:30 AM ET
• Current Account 8:30 AM ET
• Bloomberg Consumer Comfort Index 9:45 AM ET
• Housing Market Index 10:00 AM ET
• EIA Natural Gas Report 10:30 AM ET
• Fed Balance Sheet 4:30 PM ET
• Money Supply 4:30 PM ET

Highlights:

• Fed Remains Dovish And Markets fall
  Gary’s Thoughts: Duh!
• Japan’s Nikkei falls sharply (almost 500 points)after The Bank Of Japan holds rates steady…
  Gary’s Thoughts: Their market can be described as the land of the setting sun.