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The Morning Look

ByGary Kaltbaum

Stock Market Overview:

As of this writing (6:15am), U.S. stock futures are down as we begin the final trading week of the year. Oil prices which jumped sharply last week are down again this morning and the media is suggesting that’s the reason our futures are down. Remember this is the last week of the year and volume tends to be anemic. Additionally, it is a seasonally strong period for stocks (that doesn’t mean stocks have to rally this week, just that they have an upward seasonal bias). Stocks will be open for a full day on Thursday (New Years Eve) and will be closed all day on Friday (New Years Day).

Gary’s Thoughts: Please read our short weekend notes. 

Economic Data:

  • Dallas Fed Manufacturing Survey 10:30 AM EST

Highlights Of The Day:

    • ‘Star Wars’ Poised to Set Mark for Fastest Film to $1 Billion
      Gary’s Thoughts: We actually thought it would be even higher but numbers are still humongous.
    • Severe Pollution Cancels 220 Beijing Flights
      Gary’s Thoughts: What should I do about my trip to Beijing in March?
    • More Bad News From China: China industrial profits fall for sixth straight month
      Gary’s Thoughts: As we have stated, we expect China numbers to continue to decrease.
    • U.S. retailers at risk of missing modest holiday sales goals
      Gary’s Thoughts: No one can spin anything resembling bullish thoughts on Retail this holiday season…and that’s with plunging oil. What’s up with that?
    • Amazon.com finally released numbers on it’s Prime service. The company said that over 3 million members joined the service in the third week of December, bringing its total membership to “tens of millions.” The stock $AMZN is one of the strongest stocks of 2015…
      Gary’s Thoughts: No one makes fun of Bezos any more!