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The Morning Look

ByGary Kaltbaum

Stock Market Overview: 

Futures are relatively quiet ahead of Thursday’s open as investors add to Tuesday and Wednesday’s strong rally.

Gary’s Thoughts: We repeat from last night: JP Morgan…earnings down 14%, revs down 2%…remember what we told you about everyone already knowing and reporting earnings will be bad. We must also add Steve Wynn just bought more stock…73,000 shares. This after we reported to you his massive buying in January and February. A CEO averaging up is normally a good sign. Rest of market has now edged above resistance we outlined for you. Let’s hope it holds as we continue into earning’s season. WFC and JPM are down a smidge this morning on their numbers.

Economic Data:

  • Consumer Price Index 8:30 AM ET
  • Jobless Claims 8:30 AM ET
  • Bloomberg Consumer Comfort Index 9:45 AM ET
  • Dennis Lockhart Speaks 10:00 AM ET
  • Jerome Powell Speaks 10:00 AM ET
  • EIA Natural Gas Report 10:30 AM ET
  • Fed Balance Sheet 4:30 PM ET
  • Money Supply 4:30 PM ET

Highlights Of The Day:

    • Peabody’s Death Throes Threaten Beaten Down Coal and Oil/Gas Companies
      Gary’s Thoughts: Obama got the job done. He said he would put coal companies out of business and he did it.