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Thursday’s Morning Look

ByGary Kaltbaum
1 Comment

Market Update:

Stock futures are higher ahead of Thursday’s open as the market continues to flirt with record highs.

Gary’s Thoughts: Just a tad higher. OIL PRICES rally…so oversold energy will bounce but still avoid. TSLA  now down this morning on another loss. If we had to guess, we think TSLA will need to raise money as they burned through $1 billion. To make cars, you need capital. Otherwise, all quiet this morning.

Economic Calendar:

  • Weekly Bill Settlement
  • Jobless Claims 8:30 AM ET
  • Chicago Fed National Activity Index 8:30 AM ET
  • Dennis Lockhart Speaks 8:35 AM ET
  • FHFA House Price Index 9:00 AM ET
  • Bloomberg Consumer Comfort Index 9:45 AM ET
  • EIA Natural Gas Report 10:30 AM ET
  • Kansas City Fed Manufacturing Index 11:00 AM ET
  • EIA Petroleum Status Report 11:00 AM ET
  • Robert Kaplan Speaks 1:00 PM ET
  • 7-Yr Note Auction 1:00 PM ET
  • Fed Balance Sheet 4:30 PM ET
  • Money Supply 4:30 PM ET

Highlights:

  • Trump: Tax reform plan is ‘very well finalized’ but will come after ACA repeal
    Gary’s Thoughts: Lots of talk…let’s see the fine print…and the action.
  • OPEC Still Waiting for Evidence Oil Cuts Are Doing Their Job
    Gary’s Thoughts: So far…oil prices have been flattish for quite a while.

One Comment

  1. We broke !
    ER aah,,the ETF sectors I watch for market leadership…., they broke..

    Problem is, IWM broke first, and it is near the 50 day support.
    IWM, if it holds the 50 day, the break down could well be over.

    So, we watch,
    like a cat,,
    sitting on a fence post,,
    looking down into the grass,,
    waiting for a mouse.

    EOM ( end of month ).
    My two secret indicators, are saying smart players are looking for a fall here, so ooooo….. IWM may well break the 50 day, leading us lower…

    Gotta go, me and the boys are going to the local Jewish cemetery,, we are going kick down some tombstones..

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