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The Morning Look

ByGary Kaltbaum

Market Update:

Stock futures are flat to higher  before Thursday’s open as investors digest the second Fed rate hike in a decade.

Gary’s Thoughts: Rates continue to spike. Dollar continues to rise. Commodities starting to fall because of this. Financials barely budged yesterday as they continue to get the tailwind of expanding short vs long rates.

Economic Calendar:

  • Weekly Bill Settlement
  • Consumer Price Index 8:30 AM ET
  • Jobless Claims 8:30 AM ET
  • Philadelphia Fed Business Outlook Survey 8:30 AM ET
  • Empire State Mfg Survey 8:30 AM ET
  • Current Account 8:30 AM ET
  • PMI Manufacturing Index Flash 9:45 AM ET
  • Bloomberg Consumer Comfort Index 9:45 AM ET
  • Housing Market Index 10:00 AM ET
  • EIA Natural Gas Report 10:30 AM ET
  • Treasury International Capital 4:00 PM ET
  • Fed Balance Sheet 4:30 PM ET
  • Money Supply 4:30 PM ET

Highlights:

  • Tech Leaders Finished A Historic Meeting With President-Elect Trump
    Gary’s Thoughts: Lots of power in one room.
  • Wells Fargo fails ‘living will’ test and faces restrictions, US regulators rule
    Gary’s Thoughts: They will fix and they will be fine.