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The Morning Look

ByGary Kaltbaum

Stock Market Overview: 

Futures are relatively quiet ahead of Thursday’s open as investors digest the latest round of earnings data.

Gary’s Thoughts: After yesterday’s close, we reported to you that late in the day, gold and gold stocks petered out. The thought process was that the move had become tired. Never mind! Gold gapping up today as the dollar is again being whacked as central banks do not shut up. This morning, it is the ECB maniac! Gold and gold stocks remain bullish. The metal will be holding the 50 day at the open and be poised for another move up. The underlying stocks have beenn strong and remain strong. Futures up nominally…but selling nowhere to be found.

Economic Data:

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

Highlights Of The Day:

    • Crude Oil broke out and hit a new 2016 high
      Gary’s Thoughts: Weak dollar…stronger commods. 
    • Steve Forbes sees ‘out of the box’ Trump VP pick
      Gary’s Thoughts: Pick me!