| |

The Morning Look

Byaaronmat-admin

Stock Market Overview:

As of this writing (7:45 am)U.S. stock futures are up nominally as investors await the final reading on Q3 GDP which is expected to increase by 1.9% (released at 8:30 am). Nike (NKE) will report earnings after the bell. Otherwise, the economic calendar remains relatively light during this shortened holiday week. In observance of the Christmas holiday, stocks in the U.S. will close at 1pm EST on Thursday (Christmas Eve) and all U.S. markets and banks will be closed on Friday.
Gary’s Thoughts: Going to get quieter and quieter but upward bias looks to be here for the holidays.

Economic Data:

  • GDP 8:30 AM ET
  • Corporate Profits 8:30 AM ET
  • Redbook 8:55 AM ET
  • FHFA House Price Index 9:00 AM ET
  • Existing Home Sales 10:00 AM ET
  • Richmond Fed Manufacturing Index 10:00 AM ET

 

Highlights Of The Day:

    • Oil halts decline after China said it intends to provide “flexible” monetary policy and “forceful” spending
      Gary’s Thoughts: Oil remains in bear…can bounce at any time.
    • ‘Ford Applies for Record Number of Patents as CEO Eyes Innovation
    •  Gary’s Thoughts: If you do not innovate, you fall behind.
    • SpaceX Falcon blasts off…and nails landing in first reusable rocket.
      Gary’s Thoughts: MSK…MSK…MSK!
    • The CDC Investigates new E. coli strain at Chipotle (CMG)
      Gary’s Thoughts: Poor Chipotle. Cannot catch a break. They really need to get their arms around this.