Good morning
Equities are up in premarket as the dollar is pulling back after yesterday Trump bounce. Gold is down slightly and oil is up just slightly. Volatility is starting to creep back into the markets as bullish sentiment is the overwhelming consensus on the street. There are some valuations that are stretched with sectors and stocks that have charts that are overbought but earnings are strong and corporations seem to be enthusiastic about the direction of the world economy.
The U.S. economy hasn't posted three consecutive quarters of at least 3% growth since early 2005, but that may change today as the Commerce Department publishes its first Q4 GDP estimate at 8:30 a.m. Overall growth for the year is still expected to come in at around 2.3% - because of a sluggish first quarter - but spurred by a weak dollar, tax cuts, and consumer and business spending, the Trump administration could reach its 3% annual growth target in 2018.
5 Stocks to watch from this mornings Pro Pre market prep video
Great looking daily potential day trade or higher risk swing looking for red to green move and volume
Earnings beat gapping flirting with a 17 roll could be a day trade but also a swing consideration on a pull to 15 as potential support area
Great looking daily with a lot of insider activity .. could be a higher risk swing on a pull to 6 support area or a day trade on a break over 7 with volume
News after the close decent daily setup small gapper off pr of an asset sale could be a higher risk swing on a pull as close to a buck as possible or a day trade with volume and intra day setup
Pr after the close earnings > gapping up small floater 2.60 is a big spot to get through potential day trade opp with intra day setup
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Today's Markets
In Asia, Japan -0.2%. Hong Kong +1.5%. China +0.3%. India closed.
In Europe, at midday, London +0.4%. Paris +0.9%. Frankfurt flat.
Futures at 6:20, Dow +0.3%. S&P +0.4%. Nasdaq +0.5%. Crude +0.3% to $65.71. Gold -0.7% to $1352.90. Bitcoin -6.1% to $10457.
Ten-year Treasury Yield +2 bps to 2.64%
Today's Economic Calendar
8:30 Durable Goods
8:30 GDP Q4
8:30 International trade in goods
8:30 Retail Inventories (Advance)
8:30 Wholesale Inventories (Advance)
1:00 PM Baker-Hughes Rig Count
