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The Morning Look

ByGary Kaltbaum

Market Update:

Stock futures are higher before Wednesday’s open as traders wait for a busy day and week of economic data.

Gary’s Thoughts: Futures up a wee bit as beginning of year starts nicely.

Economic Calendar:

  • Motor Vehicle Sales
  • MBA Mortgage Applications 7:00 AM ET
  • ADP Employment Report 8:15 AM ET
  • Gallup U.S. Job Creation Index 8:30 AM ET
  • Redbook 8:55 AM ET
  • Gallup US Consumer Spending Measure 2:00 PM ET
  • FOMC Minutes 2:00 PM ET

Highlights:

  • Ford cancels Mexico plant… Ford CEO tries to say it was because “market demand, not Trump”
    Gary’s Thoughts: By end of day, said it was confidence in Trump policies that also moved the needle. Nothing by accident kids.
  • Energy markets reversed hard on Tuesday which took some ‘energy’ out of the market
    Gary’s Thoughts: But underlying stocks did not reverse with the price of oil.