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The Morning Look

ByGary Kaltbaum

Stock Market Overview: 

Futures are hugher ahead of Wednesday’s open as investors add to Tuesday’s strong rally. Oil prices surged to a four month high on Tuesday as the U.S. dollar is trading just above a 9-month low.

Gary’s Thoughts: Strong Asia…strong Europe…gapping up here. Potential to move out of the 4 week range markets have been in.

Economic Data:

  • MBA Mortgage Applications 7:00 AM ET
  • Retail Sales 8:30 AM ET
  • PPI-FD 8:30 AM ET
  • Business Inventories 10:00 AM ET
  • Atlanta Fed Business Inflation Expectations 10:00 AM ET
  • EIA Petroleum Status Report 10:30 AM ET
  • 10-Yr Note Auction 1:00 PM ET
  • Beige Book 2:00 PM ET

Highlights Of The Day:

  • Oil surges to 4-month highs on rumors of production freeze
    Gary’s Thoughts: Oil stocks move above range.
  • Bill Gross Says China Growing 6% Is Among ‘Investor Delusions’
    Gary’s Thoughts: We were there. It is not 6%!