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The Morning Look

ByGary Kaltbaum

Market Update:

Stock futures are relatively flat ahead of Monday’s open as investors digest a weaker-than-expected GDP report, the latest round of mixed earnings and economic data and wait for Friday’s fake jobs report. Remember weak “data” is bullish for stocks because it means more easy money from global central banks.

Gary’s Thoughts: All quiet this morning. Tons of earnings this week but the most important names are out. Markets remain stretched to the upside with a good dose of bullishness…but so far, things acting fine.

Economic Data:

  • PMI Manufacturing Index 9:45 AM ET
  • ISM Mfg Index 10:00 AM ET
  • Construction Spending 10:00 AM ET
  • Gallup US Consumer Spending Measure 2:00 PM ET

Highlights:

  • $60 Is the New $50 for U.S. Oil Drillers Waiting for Rebound
    Gary’s Thoughts: Or $40.
  • Tesla announces a Take-under merger with Solar City:
  • Gary’s Thoughts: Nothing good about this ethically challenged buyout.