Economic Breaker Panel: How We Know the Fed is Still Too Tight

What’s in Today’s Report:

• Economic Breaker Panel:  How We Know the Fed is Still Too Tight

Futures are modestly higher following news of a new Brexit agreement.

The EU and Britain have agreed to a new Brexit deal that solves the Northern Ireland border issue.  However, it remains unclear if the deal can get through Parliament, and remember that Parliament killed the last Brexit agreement between Britain and the EU

Economically, British Retail Sales slightly missed estimates (flat vs. (E) 0.2%) but that’s not moving markets.

Today focus will be on earnings (some notable reports include MS: $1.10, PM: $1.35 and UNP: $2.29).

Additionally, there are several economic reports including (in order of importance): Philly Fed (E: 7.1), Industrial Production (E: -0.2%), Jobless Claims (E: 210k) and Housing Starts (E: 1.3M).  Broadly speaking, the stronger the data, the better for stocks.