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The Morning Look

ByGary Kaltbaum

Market Update:

Stock futures are lower ahead of Thursday’s open as the market pauses to digest the recent and strong rally.

Gary’s Thoughts: Pullbacks should be controlled and rotational at this time. When you have a chance, get reading about rates around the globe. Yellen and central banks say there is no bubble. No bubble? $10 trillion of negative rates, Toyota offering bonds at .001%, the ECB buying up corporates…which leads us to a question, why would anyone buy dated bonds yielding nothing? Why would anyone risk their money getting no yield? You do realize if yields back up, bond prices go down? Don’t worry. Central banks have complete control.

Economic Data:

  • Jobless Claims 8:30 AM ET
  • Bloomberg Consumer Comfort Index 9:45 AM ET
  • Wholesale Trade 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:

  • At least nine wounded in shooting attack in central Tel Aviv: police
    Gary’s Thoughts: The U.N. will blame Israel.
  • OECD lead indicator flags first signs of growth stabilization
    Gary’s Thoughts: Stop watching these numbers that are all over the map.