The Morning Look
Market Update:
Stock futures are quiet ahead of Monday’s open as investors look forward to the next Fed meeting on Wednesday and the latest round of earnings data.
Gary’s Thoughts: Futures up a wee bit after an election news-moving Friday. Continue to be patient.
Economic Calendar:
- Personal Income and Outlays 8:30 AM ET
- Chicago PMI 9:45 AM ET
- Dallas Fed Mfg Survey 10:30 AM ET
- Farm Prices 3:00 PM ET
Highlights:
- GE, Baker Hughes Deal to Create Energy Powerhouse
Gary’s Thoughts: More to come. - A history of the controversy Hillary Clinton can’t seem to shake. Latest FBI email probe weighs on election
Gary’s Thoughts: Ya think! This doesn’t happen by accident.
Yoda looks at xlu:
Xlu is in a rally, it is flowing with The Force….
That; says Yoda , tells us the big players see no interest rate hike.
Yoda continues:
Given the rally in the dollar, no rate hike is just what we should expect.
And, that the fed…. will not….. hike, will trigger a fall in the dollar, and that, will trigger a rotation rally in commodities, and hold a steady top in the big market indexes.
And those steady tops in the big indexes, will in turn, hold the market up.
Yoda looks to The Force; there is no upcoming market pull back.