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The Morning Look

ByGary Kaltbaum

Market Update:

Stock futures are mixed ahead of Thursday’s open as the market digests last week’s very strong rally and waits for Yellen’s testimony on Capitol Hill today.

Gary’s Thoughts: Except for shipping stocks going nuts after dropping 30-50% from highs yesterday…quiet morning. Quiet is good here.

Economic Calendar:

  • Consumer Price Index 8:30 AM ET
  • Housing Starts 8:30 AM ET
  • Jobless Claims 8:30 AM ET
  • Philadelphia Fed Business Outlook Survey 8:30 AM ET
  • William Dudley Speaks 8:50 AM ET
  • Bloomberg Consumer Comfort Index 9:45 AM ET
  • Janet Yellen Speaks 10:00 AM ET
  • E-Commerce Retail Sales 10:00 AM ET
  • EIA Natural Gas Report 10:30 AM ET
  • Lael Brainard Speaks 12:30 PM ET
  • 10-Yr TIPS Auction 1:00 PM ET
  • Charles Evans Speaks 2:45 PM ET
  • Fed Balance Sheet 4:30 PM ET
  • Money Supply 4:30 PM ET

Highlights:

  • Icahn says stock rally after Trump election may be overdone
    Gary’s Thoughts: Maybe…maybe not!
  • China Holdings of U.S. Treasuries Decline to Lowest Since 2012
    Gary’s Thoughts: More of that to come.