Stock futures are quiet before Tuesday’s open as investors continue to digest a slew of earnings and wait for the first read on Q4 GDP this Friday.
Gary’s Thoughts: From last night:
Main themes here:
Financials at the 50 day average. If market will continue higher, this area will hold and turn up.
Big tech/internet set up well but most report earnings soon. Again, setting up well.
Commodity names really acting well. Metals/mining/ore and you can add the fertilizers as they popped off 50 day in past couple of days.
Major indices now in their 7th week of very tight action.
THIS MORNING….AKS reports…decently strong gap has the steels popping off their 50 day. X reports after the close. BABA up a few on numbers. In the DOW, JNJ,MMM,DD all down a wee bit on their numbers. Apple after the close.
- Redbook 8:55 AM ET
- PMI Manufacturing Index Flash 9:45 AM ET
- Existing Home Sales 10:00 AM ET
- Richmond Fed Manufacturing Index 10:00 AM ET
- 4-Week Bill Auction 11:30 AM ET
- 2-Yr Note Auction 1:00 PM ET
- Trump Rejects Notion of Feud With CIA in Day-One Visit & Reiterates His Pro Business Stance
Gary’s Thoughts: Everything will be fine. Swear!
- Aetna’s $37 Billion Humana Takeover Blocked by Judge
Gary’s Thoughts: That would have been a huge deal.