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The Morning Look

ByGary Kaltbaum

Stock Market Overview: 

Futures are relatively quiet ahead of Thursday’s open as investors digest Tuesday’s very strong rally and wait for Friday’s fake jobs report.

Gary’s Thoughts: We are paying a lot of attention to the worst areas as they try to turn the corner. Forgot to mention that the financials also look like they are turning the corner…a huge occurrence. Keep in mind, there is nothing written in stone that these areas wont just turn back down but for now…Also, had to mention markets are about as overbought on a near term basis as we have seen in ages. This is good and not so good. Good because the fact we are that ovebought tells you how strong this move has been…bad because we are waaaay overdue to pull in…which may not be so bad.

 

Economic Data: 

  • Chain Store Sales
  • Challenger Job-Cut Report 7:30 AM ET
  • Jobless Claims 8:30 AM ET
  • Productivity and Costs 8:30 AM ET
  • Gallup Good Jobs Rate 8:30 AM ET
  • PMI Services Index 9:45 AM ET
  • Bloomberg Consumer Comfort Index 9:45 AM ET
  • Factory Orders 10:00 AM ET
  • ISM Non-Mfg Index 10:00 AM ET
  • EIA Natural Gas Report 10:30 AM ET
  • Rob Kaplan Speaks 10:45 AM ET
  • Fed Balance Sheet 4:30 PM ET
  • Money Supply 4:30 PM ET

Highlights Of The Day:

  • Shale Pioneer McClendon, Accused of Bid Rigging, Dies in Crash
    Gary’s Thoughts:     WOW!
  • Apple Digs In for Long Fight: ‘There Is No Middle Ground’
    Gary’s Thoughts: We don’t understand any of this.