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The Morning Look

ByGary Kaltbaum

Market Update:

Stock futures are relatively quiet ahead of Wednesday’s open as investors digest Tuesday’s sell-off and wait the Fed to wrap up its latest meeting this afternoon.

Gary’s Thoughts: Fed day. Anything is possible especially with markets somewhat oversold here. Keep in mind, lots of blow-ups with this morning no different. DXCM,PAYC,PXD,X,ADPT,AGN,CERN,DATA for starters. Patience and defense important here. We expect nothing different from the fed today…blah blah blah…December maybe possibly could be….accomodative blah blah blah.

Economic Calendar:

  • MBA Mortgage Applications 7:00 AM ET
  • ADP Employment Report 8:15 AM ET
  • Gallup U.S. Job Creation Index 8:30 AM ET
  • Treasury Refunding Announcement 8:30 AM ET
  • EIA Petroleum Status Report 10:30 AM ET
  • FOMC Meeting Announcement 2:00 PM ET

Highlights:

  • FBI Unexpectedly Releases Files on Bill Clinton’s Pardon of Marc Rich
    Gary’s Thoughts: What’s going on here?
  • U.S. Stocks Fall to July Low With Election Anxiety Rising
    Gary’s Thoughts: They had better hold July lows. Internals very worrisome on a daily basis.