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The Morning Look

ByGary Kaltbaum

Market Update:

Stock futures are a little higher ahead of Wednesday’s open as investors wait for the Fed and the latest round of economic and earnings data to be released.

Gary’s Thoughts: But NDX futures up nicely off of crappy Apple numbers…but they said things will get better. Apple up $7…which helps Dow and NDX…with suppliers also up. Earnings were down 27%…sales down 15%…but all’s well!

  • MBA Mortgage Applications 7:00 AM ET
  • Durable Goods Orders 8:30 AM ET
  • Pending Home Sales Index 10:00 AM ET
  • EIA Petroleum Status Report 10:30 AM ET
  • 2-Yr FRN Note Auction 11:30 AM ET
  • FOMC Meeting Announcement 2:00 PM ET

Highlights:

  • The DNC convention or as we say…Fantasyland is underway. People who keep telling us how bad things are keep telling us Trump paints a bleak picture. People who always tell us how badly we need them continue to tell us how badly we need them. We’ll have more on this in a couple days.