The Morning Look

Stock Market Overview: 

Futures are lower ahead of Wednesday’s open and today’s Fed meeting Remember, we are in the heart of earnings season with approximately 35% of S&P 500 stocks are expected to release earnings this week. The first look at Q1 2016 GDP will be released on Thursday.

Gary’s Thoughts:  Apple not helping QQQ but SPY not down much. Oil again popping as oil prices breaking out fo range…and oh yeah…the freaking fed today!

Economic Data:

  • MBA Mortgage Applications 7:00 AM ET
  • International Trade in Goods 8:30 AM ET
  • Pending Home Sales Index 10:00 AM ET
  • EIA Petroleum Status Report 10:30 AM ET
  • FOMC Meeting Announcement 2:00 PM ET

Highlights Of The Day:

    • Exxon Mobil Loses Top Credit Rating It Held Since Depression
      Gary’s Thoughts: Oops! 
    • Ackman to Testify With Pearson at Senate Drug-Pricing Hearing
      Gary’s Thoughts: An investing genius but cardinal sin…don’t hold bad bets all the way down.