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The Morning Look

ByGary Kaltbaum
1 Comment

Market Update:

Stock futures are higher ahead of Friday’s as investors digest a volatile week and wait for three Fed heads, including Janet Yellen, to speak later today.

Gary’s Thoughts: Failed breakout to upside and possibly a failed breakdown to the downside yesterday…which means major indices remain in range. We will know a lot more after the close today. Want to see what kind of recovery we get. Futures up decently after yesterday’s little washout. JPM and C have decent reactions this morning to earning’s reports. Financials roughed up yesterday so that could help.

Economic Calendar:

  • PPI-FD 8:30 AM ET
  • Retail Sales 8:30 AM ET
  • Eric Rosengren Speaks 8:30 AM ET
  • Business Inventories 10:00 AM ET
  • Consumer Sentiment 10:00 AM ET
  • Loretta Mester Speaks 12:00 PM ET
  • Janet Yellen Speaks 12:30 PM ET
  • Baker-Hughes Rig Count 1:00 PM ET

Highlights:

  • Stocks tested important support on Thursday.
    Gary’s Thoughts: Wash and rinse.
  • Verizon closing call centers 5 states, including its home state of New York
    Gary’s Thoughts: Wonder why!

One Comment

  1. The market is poised to fall !
    Butt…the dollar is badly extended to the up side.

    Q: Will the fed allow the dollar to continue to rally ?
    Yes, ….the market tanks.
    No, …..the market rallies.

    There ain’t a whole lot more to say about it.

    Yoda has spoken.

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