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The Morning Look

Byaaronmat-admin

Stock Market Overview:

U.S. stock futures are lower ahead of Friday’s open as oil prices continue to hit fresh multi-year lows. Today is known as quadruple witching day which means a series of options are expiring today. Typically, that leads to increased volume near the close. Today is also the last trading day of the week so it is important to see where stocks close today. So far, this has been another volatile week on Wall Street: stocks rallied Mon-Wednesday, then fell sharply on Thursday. The Fed raised rates by a quarter point on Wednesday but said future rate hikes will be “gradual” (which is there way of saying, the #EasyMoney is here to stay). Nothing much has changed, leadership remains very narrow and most of the market continues acting poorly.

Gary’s Thoughts: Narrow markets are bearish. Narrow markets are bearish. The Fed does not have control. The Fed does not have control.

Economic Data:

  • PMI Services Flash 9:45 AM ET
  • Atlanta Fed Business Inflation Expectations 10:00 AM ET
  • Kansas City Fed Manufacturing Index 11:00 AM ET
  • Jeffrey Lacker Speaks 12:30 PM ET
  • Baker-Hughes Rig Count 1:00 PM ET

Gary’s Thoughts: We expect economic numbers to head south just as Yellen says she is confident in the economy.

Highlights Of The Day:

    • The Bank Of Japan (BOJ) Extended Their QE Program (Print More Money) and Unveiled a $2.5 Billion ETF Buying Boost, but Markets Shrug.
      Gary’s Thoughts: Government run markets!
    • More bad news for Russia: Ukraine Defaults on $3 Billion Bond to Russia
      Gary’s Thoughts: Debt is a bad thing.
    • Qihoo to Be Taken Private for $9.3 Billion Including Debt
      Gary’s Thoughts: So why dont I own any?
    • China Beige Book Shows ‘Disturbing’ Economic Deterioration
      Gary’s Thoughts: As we have been saying…China is a lot less than meets the eyes.