A Chart for Clients: “Buying the Rip” Pays Over Time
What’s in Today’s Report:
- Interesting Chart for Clients – “Buying the Rip” Pays Off Over Time
- PPI & Retail Sales Takeaways
Stock futures are higher, signaling equities are poised to extend this week’s solid advance, albeit in light holiday trading, as dovish bets for a December Fed rate cut continue to build, supporting risk-on money flows.
There were no market-moving economic reports or noteworthy financial news headlines overnight.
Today should be quiet giving the looming Thanksgiving holiday break tomorrow however there are three economic reports to watch that could impact markets including Durable Goods Orders (E: 0.1%), Jobless Claims (E: 225K), and the Chicago PMI (E: 44.3).
There are no Fed speakers today however there are multiple short-term Treasury Bill auctions this morning and a critical 7-Yr Note auction at 1:00 p.m. ET that could move yields and subsequently impact equities and other asset classes (the stronger the demand, the better).
Finally, there are two earnings reports due out today from DE ($3.96) and LI ($0.04), but given the thin volumes and light attendance ahead of Thanksgiving, it is unlikely that either release materially moves markets.
