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The Morning Look

ByGary Kaltbaum

Stock Market Overview:

U.S. stock futures are up before Thursday’s open as investors digest the first Fed rate hike since June 2006. Stocks rallied nicely after the Fed meeting because even though the Fed raise rates by a quarter point they still maintain a very dovish (a.k.a #EasyMoney) stance.

Gary’s Thoughts:   Europe strong…Asia strong…we continue up on the open. Lots of resistance again but end of year action is here.

Economic Data:

  • Jobless Claims 8:30 AM ET
  • Philadelphia Fed Business Outlook Survey8:30 AM ET
  • Current Account 8:30 AM ET
  • Bloomberg Consumer Comfort Index 9:45 AM ET
  • Leading Indicators10:00 AM ET
  • EIA Natural Gas Report 10:30 AM ET
  • Fed Balance Sheet 4:30 PM ET
  • Money Supply 4:30 PM ET

Gary’s Thoughts: Not sure any of this trumps the big event from yeaterday but we will we watching for reactions.

Highlights Of The Day:

    • Here are a few stocks reporting earnings today: Accenture, General Mills, Rite Aid and Winnebago (before the bell) and Red Hat is among companies set to report after the bell.
      Gary’s Thoughts: Earnings season begins in a month. Nothing earth shaking here.
    • Shkreli, CEO Reviled for Drug Price Gouging, Arrested on Securities Fraud Charges 26 minutes ago Share on Facebook Share on Twitter
      Gary’s Thoughts: Very suspect dude!
    • AstraZeneca to Buy Acerta for $4 Billion, Adding Cancer Drug
      Gary’s Thoughts: You mean another buyout? Companies not growing so they grow buy purchasing or merging with others.