The Morning Look
Stock Market Overview:
Stock futures are up nicely before Friday’s open. Stocks staged a big reversal on Wednesday and tried to rally on Thursday but finished mixed after China injected nearly $17B to stimulate markets and the European Central Bank hinted they would print more money, if needed. Gary has been telling you the market has been VERY stretched to he downside and way overdue to bounce. Let’s see if the market can actually bounce here.
Gary’s Thoughts: Big gap up. Wednesday’s washout is working now. Please read our bigger report this morning.
Economic Data:
- Chicago Fed National Activity Index 8:30 AM ET
- PMI Manufacturing Index Flash 9:45 AM ET
- Existing Home Sales 10:00 AM ET
- Leading Indicators 10:00 AM ET
- Baker-Hughes Rig Count 1:00 PM ET
Highlights Of The Day:
- More Easy Money! The Head Of The European Central Bank (ECB) hinted that he is open to increasing QE (print more money) in March
Gary’s Thoughts:Of course! Japan also teases more QE. - BofA CEO Moynihan Sees More Job Cuts in 2016
Gary’s Thoughts: Yup!
- Blizzard Watch Posted From Washington to New York for Storm
Gary’s Thoughts: Stay safe!
Still awaiting the moment that the tease more easing and the market doesn’t listen. When will they see that they are adding to the problem?