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Tuesday’s Morning Look

ByGary Kaltbaum

Market Update:

Stock futures are quiet ahead of Tuesday’s open as the market continues to flirt with record highs.

Gary’s Thoughts: Very quiet but lots of  jello moving on the plate. Really watching the biotechs here after yesterday’s move. Tonight, the new president speaks.

Economic Calendar:

  • GDP 8:30 AM ET
  • International Trade in Goods 8:30 AM ET
  • Redbook 8:55 AM ET
  • S&P Corelogic Case-Shiller HPI 9:00 AM ET
  • Chicago PMI 9:45 AM ET
  • Consumer Confidence 10:00 AM ET
  • Richmond Fed Manufacturing Index 10:00 AM ET
  • State Street Investor Confidence Index 10:00 AM ET
  • Esther George Speaks 12:45 PM ET
  • Patrick Harker Speaks 3:00 PM ET
  • Farm Prices 3:00 PM ET
  • John Williams Speaks 3:30 PM ET
  • Bullard Speaks 6:30 PM ET

Highlights:

  • Trump expected to announce big changes to his budget…increase defense spending and decrease funding for government agencies such as the EPA.
    Gary’s Thoughts: Holding opinion until I see it.
  • For Warren Buffett, America’s Best Days Always Lie Ahead
    Gary’s Thoughts: We have been saying this forever but if we do nothing about the trajectory of debt created by those wonderful humans in Washington…there will be a day of reckoning.