| | |

The Morning Look

ByGary Kaltbaum

Market Update:
Futures are lower ahead of Thursday’s open as investors digest another volatile week on Wall Street. Stocks were up big on Monday, down big on Tuesday, then were up most of Wednesday before turning lower after the Fed minutes were released. Lots of areas of the market are beginning to roll over and any further selling will signal real trouble for the market. And airplane crash (most likely terrorism) does not help.

Gary’s Thoughts:

  • Jobless Claims 8:30 AM ET
  • Philadelphia Fed Business Outlook Survey 8:30 AM ET
  • Chicago Fed National Activity Index 8:30 AM ET
  • Bloomberg Consumer Comfort Index 9:45 AM ET
  • Leading Indicators 10:00 AM ET
  • EIA Natural Gas Report 10:30 AM ET
  • William Dudley Speaks 10:30 AM ET
  • Fed Balance Sheet 4:30 PM ET
  • Money Supply 4:30 PM ET

Highlights:

  • The US dollar rallied after the Fed minutes left the door open for a June hike
    Gary’s Thoughts: Enough on the Fed this morning.
  • Wells Fargo Cuts Target on Valeant Citing Potentially ‘Brazen’ Executive Pay Packages
    Gary’s Thoughts: Valeant a criminal operation.