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The Morning Look

ByGary Kaltbaum

Stock Market Overview:

U.S. stock futures are relatively up nicely in the premarket as the world continues to wait for the Fed meeting and the post-meeting press conference. Stocks bounced nicely on Monday and Tuesday off of deeply oversold conditions. Irrespective of what the Fed does today, for us, the most important thing to watch is how markets react to the news and where stocks close.

Gary’s Thoughts: See our report coming out in a few minutes!  

Economic Data:

  • MBA Mortgage Applications 7:00 AM ET
  • Housing Starts 8:30 AM ET
  • Industrial Production 9:15 AM ET
  • PMI Manufacturing Index Flash  9:45 AM ET
  • EIA Petroleum Status Report 10:30 AM ET
  • FOMC Meeting Announcement 2:00pm ET
  • FOMC Forecasts 2:00 PM ET
  • Fed Chair Press Conference 2:30 PM ET

Gary’s Thoughts: All about the fed.

Highlights Of The Day:

  • Earnings: Oracle ($ORCL) will post quarterly results after the market closes Wednesday, along with other companies including FedEx ($FDX) and Pier 1 Imports ($PIR).
    Gary’s Thoughts: Fedex more important!
  • People will be analyzing last night’s Republican Debate
    Gary’s Thoughts: No changes. If anything, Trump solidifies regardless of some quite suspect thoughts.
  • Oil prices continue to slide.
    Gary’s Thoughts: $1.75…$1.70…
  • The government (Congress) is putting pressure on Valeant ($VRX) over pricing and Philidor
    Gary’s Thoughts: Government puts pressure on everything we do.