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The Morning Look

ByGary Kaltbaum

Stock Market Overview:

U.S. stock futures are down again as the world digests Monday’s sharp world-wide sell-off. Economic data is relatively thin today with the focus being on motor vehicle sales. Gary has expressed caution and has been telling you about how the market has been getting weaker not stronger over much of 2015. Leadership continues to get more and more “narrow” and most of the market remains in bad shape.

Gary’s Thoughts: We read somewhere the Atlanta Fed cut its GDP forecast for Q4 to 0.7%…which is a big drop from Q3. That means Yellen raised rates into a real slowdown. The Fed waited years to raise rates and they do it while commodities crash, China slumps, markets are in trouble and GDP is cut. Thrilling! Short term, anything is possible. Big picture remains yuck and is getting yuckier with yesterday’s action.

Highlights Of The Day:

    • Bill Clinton Steps Back Into Campaign Spotlight
      Gary’s Thoughts: No thanks! We do not like influence peddling, money grubbing ex-Presidents. And we didn’t even mention the women thing. 
    • Tesla Stresses Quality Over Quantity as Model X Deliveries Begin
      Gary’s Thoughts: How about making money?
    • Manufacturing in U.S. Contracts at Fastest Pace in Six Years
      Gary’s Thoughts: Told ya…told ya.
    • GM Eyes the Future With $500M Bet on Lyft
      Gary’s Thoughts: Driverless cars?