The Morning Look
Market Update:
Stock futures are higher ahead of Thursday’s open as the market continues its recent and strong post brexit rally.
Gary’s Thoughts: Macys and Kohls come out with blah numbers…both gap up as the blah numbers were better than the expected blah numbers.
Economic Data:
- Jobless Claims 8:30 AM ET
- Import and Export Prices 8:30 AM ET
- Bloomberg Consumer Comfort Index 9:45 AM ET
- EIA Natural Gas Report 10:30 AM ET
- Fed Balance Sheet 4:30 PM ET
- Money Supply 4:30 PM ET
Highlights:
- OPEC Says Weak Oil Demand Is Here to Stay
Gary’s Thoughts: Since OPEC says price is here to stay…probably not a bad idea to think bullish. We shall see. - There Are All Kinds of Signs of a High-End Real Estate Slowdown
Gary’s Thoughts: The 1% must be worried! Not!
Can anyone say 100,000 DOW in 10 years ?
Q: What’s to stop it ?
A: Only two things can stop this market rally.
!. Inflation soo strong that the fed(s) of the planet are forced to stop the river of money flowing into the markets with interest rate hikes.
2. The little guy getting into the market, and on to the free money financial gravy train. Were the little guy to jump on, that would equal un earned money in his pockets, ………..spent, creating inflation, forcing interest rates up. Rather than allow the little guy to win, the banks can simply drop the market shaking him out.
The little guy spending equals the end of the gravy train.
Butt, the little guy is not in the market, so there is simply no incentive for the banks to pull the market back.
Why pull the market back when the money is flowing into the pockets of the banker’s rich friends ?
Can anybody say, DOW 100,000 in 10 years ?