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The Morning Look

ByGary Kaltbaum

Market Update:

Stock futures are slightly higher before Friday’s open on the last day of the week. Today is also quadruple witching day which means volume will be higher than normal because a series of options expire today.

Gary’s Thoughts: Futures up a wee bit. No real issues with market unless you own the anti-strong dollar, higher interest rates play. Amazing to see such weakness while market here is fine. Financials will never have a down day ever again.

Economic Calendar:

  • Quadruple Witching
  • Housing Starts 8:30 AM ET
  • Atlanta Fed Business Inflation Expectations 10:00 AM ET
  • Jeffrey Lacker Speaks 12:30 PM ET
  • Baker-Hughes Rig Count 1:00 PM ET

Highlights:

  • US Dollar surged to the highest level since 2003!
    Gary’s Thoughts: Very overbought but right now doesnt matter. Travel abroad. Its cheaper.
  • GM is testing driver-less cars
    Gary’s Thoughts: Hate it! Dont like it. Already seeing cars going through red lights and stop signs.