The Morning Look
Market Update:
Stock futures are slightly lower ahead of Tuesday’s open as markets look past the 2nd presidential debate and look ahead to earnings season.
Gary’s Thoughts: All’s quiet and no new videos…yet!
Economic Calendar:
- NFIB Small Business Optimism Index 6:00 AM ET
- Redbook 8:55 AM ET
- Labor Market Conditions Index 10:00 AM ET
- 4-Week Bill Auction 11:30 AM ET
- 3-Month Bill Auction 11:30 AM ET
- 6-Month Bill Auction 11:30 AM ET
- 52-Week Bill Auction 11:30 AM ET
Highlights:
- Russians and Saudis Pledge Joint Effort to Limit Oil Production
Gary’s Thoughts: OPEC finally acts. We shall see if it sticks and whether the market listens. - Samsung to Halt Note 7 Output as New Phone Fires Are Probed
Gary’s Thoughts: Apple wins.
Er aah……
It’s the dollar….
The dollar is,, runaway up, ….trend up !
50 day +
The market is falling……
The market will keep falling as long as the dollar keeps rising.
Butt…. that’s technicals..
Technicals are as out of fashion, as fundamentals.
What we need to ask ourselves is; when is shadow fed chair …Stanley Fisher, going to notice that the market is falling, and do just what “bubbles” Ben used to do,,,,,,,,,, that being to run in a panic down the halls of the fed, screaming “The sky is falling !” “The sky is falling !” “Print!” “Print!” “For god’s sake …….. PRINT.. !”
And …. WHEN they print, …… the dollar will fall, and the markets will go right back up.
The market is down today, yawn, I ain’t worried, one bit. …We have fed chair Stanley Fisher, and fed chair Fisher has a printing press…..