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The Morning Look

ByGary Kaltbaum

Market Update:

Stock futures are higher ahead of Wednesday’s open as the market is trying to bounce as we approach the final week of the month.

Gary’s Thoughts: So far, end of month, pre holiday acts very well. We have been here before. Tease down, tease up. As we said on radio, one of these days, we will break out of range. With many of the major investment banks downright bearish, hmmm!

Economic Data:

  • MBA Mortgage Applications 7:00 AM ET
  • International Trade in Goods 8:30 AM ET
  • FHFA House Price Index 9:00 AM ET
  • PMI Services Flash 9:45 AM ET
  • EIA Petroleum Status Report 10:30 AM ET
  • Robert Kaplan Speaks 1:00 PM ET

Highlights:

  • U.S. New-Home Sales Surge to Highest Level in Eight Years
    Gary’s Thoughts: That was one helluva number but remains a back and forth number.
  • Greek Debt Relief 2.0 Is Coming as IMF Rips Euro-Area Offer
    Gary’s Thoughts: Get out another credit card. This isn’t relief. It is just kicking down the road some more.