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The Morning Look

ByGary Kaltbaum

Market Update:

Stock futures are slightly higher ahead of Tuesday’s open after Italy’s referendum failed over the weekend and investors now look ahead to the ECB meeting on Thursday and then next week’s Fed meeting. It took stocks three days to recover from Brexit, less than one day to recover from the U.S. election, and a few hours to recover from Italy. Clearly, markets are getting smarter and adapting to the new reality that people want change and are not happy with the establishment.

Gary’s Thoughts: Only thing sticking out is oil prices backing up nicely…so oil stocks coming in but just a wee bit. We will be watching whole group as they pull in.

Economic Calendar:

  • International Trade 8:30 AM ET
  • Productivity and Costs 8:30 AM ET
  • Gallup US ECI 8:30 AM ET
  • Redbook 8:55 AM ET
  • Factory Orders 10:00 AM ET
  • 4-Week Bill Auction 11:30 AM ET
  • 52-Week Bill Auction 11:30 AM ET

Highlights:

  • Trump, Gore Meet on Climate After Talks Opened With Ivanka
    Gary’s Thoughts: Why meet with this charlatan? He said over 10 years ago, cities would be under water. What happened to that>
  • Berkshire Could Get a $29 Billion Boost From Trump’s Tax Plan
    Gary’s Thoughts: Buffett=smart!