The Morning Look

Stock Market Overview: 

Futures are up ahead of Thursday’s open. Stocks staged a big positive reversal on Wednesday after bouncing off their 10 day moving average line. The next level of resistance to watch is Monday’s high and the 50 DMA line.

Gary’s Thoughts: We repeat…watch the 50 day. A move above does not hurt but keep in mind, very little in the way of leadership.

Economic Data: 

• Dennis Lockhart Speaks 8:15 AM ET
• Durable Goods Orders 8:30 AM ET
• Jobless Claims 8:30 AM ET
• FHFA House Price Index 9:00 AM ET
• Bloomberg Consumer Comfort Index 9:45 AM ET
• EIA Natural Gas Report 10:30 AM ET
• Kansas City Fed Manufacturing Index 11:00 AM ET
• John Williams Speaks 12:00 PM ET
• Fed Balance Sheet 4:30 PM ET
• Money Supply 4:30 PM ET

• Brazil Credit Ratings Cut to Junk by Moody’s
  Gary’s Thoughts: If we didnt print money, we would be cut also.