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The Morning Look

ByGary Kaltbaum

Market Update:

Stock futures are a little lower ahead of Wednesday’s open. The Dow fell 7 days in a row as it continues consolidating its recent post-brexit rally and a ton of earnings continue to be released. Remember, the always fun and fake jobs report will be released on Friday.

Gary’s Thoughts: 7 days in a row but not a lot of drop.

Economic Data:

  • Bank Reserve Settlement
  • MBA Mortgage Applications 7:00 AM ET
  • ADP Employment Report 8:15 AM ET
  • Gallup U.S. Job Creation Index 8:30 AM ET
  • Treasury Refunding Announcement 8:30 AM ET
  • 3-Yr Note Announcement 8:30 AM ET
  • 10-Yr Note Announcement 8:30 AM ET
  • 30-Yr Bond Announcement 8:30 AM ET
  • PMI Services Index 9:45 AM ET
  • ISM Non-Mfg Index 10:00 AM ET
  • EIA Petroleum Status Report 10:30 AM ET

Highlights:

  • Macy’s, Kohl’s Fall on Concern About Slow Department-Store Sales
    Gary’s Thoughts: RETAIL ALREADY SUSPECT AGAIN.
  • Bill Gross Says Record-Low Bond Yields ‘Aren’t Worth the Risk’
    Gary’s Thoughts: BUBBLE…LOTS OF LONG TERM RISK!