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The Morning Look

ByGary Kaltbaum

Market Update:

Stock futures are higher ahead of Thursday’s open as the Dow Jones Industrial Average pulled into its 50 day moving average line for the first time since Brexit. Elsewhere, UK factory orders jumped higher which helped alleviate concern that brexit would adversely affect their economy.

Gary’s Thoughts: A wee bit higher as market awaits tomorrow’s fake employment number. There has been some deterioration in a bunch of sectors but financials and semis still got the bid…

Economic Data:

  • Motor Vehicle Sales
  • Chain Store Sales
  • Challenger Job-Cut Report 7:30 AM ET
  • Jobless Claims 8:30 AM ET
  • Productivity and Costs 8:30 AM ET
  • Gallup Good Jobs Rate 8:30 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
  • Loretta Mester Speaks 12:25 PM ET
  • Fed Balance Sheet 4:30 PM ET
  • Money Supply 4:30 PM ET

Highlights:

  • Dilma Rousseff Ousted in Historic Brazil Impeachment Trial
    Gary’s Thoughts: Another corrupt socialist gone!
  • Oil’s Bear Market Is Hurting Commodity Economies: Canada economy has biggest quarterly drop in seven years
    Gary’s Thoughts: And its not getting any better just yet.