The Morning Look

Stock Market Overview: 

Stock futures are up Friday morning. Overnight, the Bank of Japan surprised the world and took rates into negative territory as they continue printing money to stimulate their lackluster economy. In the U.S., the initial reading for Q4 GDP was announced. Friday is the last trading day of the month and this has been one of the worst month’s in the market’s history!

Gary’s Thoughts:  Remember what we have said. Strip away all the noise and we think two Wednesday’s ago, sellers were washed out. We still believe that and think there is more time and price to work off the stretched, extended and oversold condition in the market. We will have our usual award winning weekend report on Sunday. Oh…and GDP stunk!

Economic Data:

  • GDP 8:30 AM ET
  • Employment Cost Index 8:30 AM ET
  • Chicago PMI 9:45 AM ET
  • Consumer Sentiment 10:00 AM ET
  • Baker-Hughes Rig Count 1:00 PM ET
  • John Williams Speaks 2:45 PM ET
  • Farm Prices
    [Bullet3:00 PM ET

Highlights Of The Day:

    • Donald Trump Is the Favorite of Moderate Republicans
      Gary’s Thoughts: We think he is still the chalk.
    • Russia Comments Tease Oil Market Eager for Any Glimmer of Hope
      Gary’s Thoughts:  Oil-laden countries need to do something. It starts with yapping.
    • Xerox To Split Company and Icahn To Get Three Board Seats
      Gary’s Thoughts: XRX ripe for this as its stock is huge under-performer for year.