The Morning Look

Market Update:

Stock futures are lower ahead of Friday’s open as the market pauses to digest a very strong week on Wall Street.

Gary’s Thoughts: We will have a complete report on the changing of the guard in Washington, in corporate America and the markets over the weekend. Read again what we wrote last night…while the DOW is being yelped about, lots of bear markets going on in this market as the inflation trade soars the past two days. We suspect gravity will take over soon and pull the banks in as well as other areas that jumped but they look really good longer term. Another ugly open for nasdaq/tech types this morning.

Economic Calendar:

• Banks Closed, Markets Open
• Consumer Sentiment 10:00 AM ET
• Stanley Fischer Speaks 11:00 AM ET
• Baker-Hughes Rig Count 1:00 PM ET

Highlights:

• Happy Veteran’s Day! Banks Closed, Markets Open
  Gary’s Thoughts: Shake the hand of a veteran today.
• Wall Street pauses for breath, eyes Fischer comments, data
  Gary’s Thoughts: Screw the fed…abolish these dolts!