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The Morning Look

ByGary Kaltbaum

Market Update:

Stock futures are a flat ahead of Thursday’s open as the major indices remain perched below record highs.

Gary’s Thoughts: The easy money maniac at the ECB just said no need for more stimulus this second…so futures just fell. As we write this, the DAX is now down 130 points. Don’t worry…after the first 1% drop in the market, he will change his mind. That’s sarcasm…maybe!

Economic Data:

  • Weekly Bill Settlement
  • Jobless Claims 8:30 AM ET
  • 30-Yr Bond Announcement 9:00 AM ET
  • Bloomberg Consumer Comfort Index 9:45 AM ET
  • Quarterly Services Survey 10:00 AM ET
  • EIA Natural Gas Report 10:30 AM ET
  • EIA Petroleum Status Report 11:00 AM ET
  • Consumer Credit 3:00 PM ET
  • Treasury STRIPS 3:00 PM ET
  • Fed Balance Sheet 4:30 PM ET
  • Money Supply 4:30 PM ET

Highlights:

  • ECB held rates steady & kept QE steady
    Gary’s Thoughts: Not for long.
  • Fed Sees Modest Economic Growth With ‘Slight’ Inflation
    Gary’s Thoughts: They just report what has happened.
  • Gary was right, Apple’s event was meaningless.
    Gary’s Thoughts: Most of the additions could be found in other smartphones.