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The Morning Look

ByGary Kaltbaum

Market Update:

Stock futures are higher ahead of Tuesday’s open as the whip saw action continues on Wall Street. In the near term, the S&P 500’s next level of resistance is the 50 day moving average.

Gary’s Thoughts:

Economic Data:

  • Redbook 8:55 AM ET
  • New Home Sales 10:00 AM ET
  • Richmond Fed Manufacturing Index 10:00 AM ET
  • 4-Week Bill Auction 11:30 AM ET
  • 52-Week Bill Auction 11:30 AM ET
  • 2-Yr Note Auction 1:00 PM ET

Highlights:

  • Shari Redstone Vaults Past Nemesis Dauman in Viacom Battle
    Gary’s Thoughts: There will be a few movies made on this.
  • Corporate Defaults Are Spreading Outside Commodities
    Gary’s Thoughts: Don’t worry. All is well!