How Bullish Are Investors? (The Answer May Surprise You)
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What’s in Today’s Report:
- How Bullish Are Investors? (The Answer May Surprise You)
Futures are modestly higher following a night of solid earnings and mixed economic data.
TSLA is rallying 11% pre-market after posting stronger than expected earnings and that’s helping futures rally.
Economically, EU and UK flash PMIs were mixed but, on balance, Goldilocks enough to support a bounce in stocks.
Today focus will shift from earnings to economic data and the important reports today are: Jobless Claims (E: 247K), Oct. Flash Manufacturing PMI (E: 47.6) and the Oct. Flash Services PMI (E: 55.0). Goldilocks data that’s in-line with expectations (so not too good or too bad) is the best outcome for a continued rebound in stocks and bonds today.
We also have one Fed speaker today, Hammack at 8:45 a.m. ET, and some notable earnings including UPS ($1.65), AAL ($0.13) and COF ($3.70). But, barring any major surprises they shouldn’t move markets.
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