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…
Stocks fell on Wednesday which is perfectly normal after such a strong rally. Oil prices fell which dragged a slew of energy stocks lower. Before the open, Michael Kors ($KORS) reported earnings and beat expectations on both the top line and bottom line but the stock fell 3% on future guidance. Separately, Ralph Lauren ($RL) gapped up after the…
Market Update: Stock futures are quiet to a little higher ahead of Wednesday’s open as the market digests the recent and strong post brexit rally. Gary’s Thoughts: Quiet is good Economic Data: MBA Mortgage Applications 7:00 AM ET JOLTS 10:00 AM ET EIA Petroleum Status Report 10:30 AM ET 10-Yr Note Auction 1:00 PM ET Treasury Budget 2:00 PM ET Highlights:…
Market Update: Stock futures are quiet to a little higher ahead of Tuesday’s open as the recent and strong post brexit rally continues. Gary’s Thoughts: Quiet is good Economic Data: NFIB Small Business Optimism Index 6:00 AM ET Productivity and Costs 8:30 AM ET Redbook 8:55 AM ET Wholesale Trade 10:00 AM ET Highlights: Oil Jumped 3% on Monday After…
On Monday, stocks slid as oil jumped nearly 3% and bounced from oversold levels. Oil bounced after rumors spread that OPEC members are talking about freezing production. Remember, the last time that happened, was in mid-February and oil surged – even though OPEC never freezed production. Technically, oil is just bouncing from deeply oversold levels. Economic…
Market Update: Stock futures are higher ahead of Monday’s open as the recent and strong post brexit rally continues. Gary’s Thoughts: Japan, Australia and England all announced more easy money policies last week. The rally continues…for now Economic Data: Labor Market Conditions Index 10:00 AM ET 4-Week Bill Announcement 11:00 AM ET 3-Month Bill Auction 11:30 AM ET 6-Month…
Stocks were very quiet on Thursday even though the Bank of England announced a large round of easy money.The Bank of England cut rates for the first time in seven years by 1/4 point to 0.25%. They are buying corporate bonds and amazingly, ANOTHER 455 BILLION EUROS in printed money (QE). This is on top of the…
Market Update: Stock futures are higher ahead of Friday’s open. The government said U.S. employers added 255,000 new jobs in July, beating estimates for 180,000. Gary’s Thoughts: Market likes fake job number…edging out with stronger financials. Economic Data: Employment Situation 8:30 AM ET International Trade 8:30 AM ET Baker-Hughes Rig Count 1:00 PM ET Consumer Credit 3:00 PM ET Treasury…
Market Update: Stock futures are flattish ahead of Thursday’s open after The Bank Of England threw more easy money at markets. In response to Brexit, The Bank of England cut rates by a quarter point to 0.25%, expanded QE and is beginning a corporate bond buying program. Remember, the always fun and fake jobs report will be…
Market Update: Stock futures are a little lower ahead of Wednesday’s open. The Dow fell 7 days in a row as it continues consolidating its recent post-brexit rally and a ton of earnings continue to be released. Remember, the always fun and fake jobs report will be released on Friday. Gary’s Thoughts: 7 days in a row…
