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The Morning Look

ByGary Kaltbaum

Market Update:

Stock futures are flat ahead  of Thursday’s open on the first day of December. Oil prices vaulted 9% on Wednesday after OPEC cut production for the first time in 8 years. The always fun (and fake) jobs report will be released on Friday.

Gary’s Thoughts: Futures flat but jello moving all over the plate. Oil prices up another couple percent in pre-market. Oil stocks continue on yesterday’s breakout. In the past, these breakouts failed. Not sure they fail this time.

Economic Calendar:

  • Chain Store Sales
  • Challenger Job-Cut Report 7:30 AM ET
  • Jobless Claims 8:30 AM ET
  • Gallup Good Jobs Rate 8:30 AM ET
  • Loretta Mester Speaks 8:30 AM ET
  • Robert Kaplan Speaks 9:00 AM ET
  • PMI Manufacturing Index 9:45 AM ET
  • Bloomberg Consumer Comfort Index 9:45 AM ET
  • ISM Mfg Index 10:00 AM ET
  • Construction Spending 10:00 AM ET
  • EIA Natural Gas Report 10:30 AM ET
  • Fed Balance Sheet 4:30 PM ET
  • Money Supply 4:30 PM ET

Highlights:

  • After OPEC- Analysts Believe Big Oil Earnings Will Double in 2017
    Gary’s Thoughts: A bet on higher prices. Genius!
  • GoPro Cuts Jobs and Refocuses, but Faces Growing Competition
    Gary’s Thoughts: Gopro…we were wriied from day one. Too much comp!