What’s in Today’s Report:
- Putting the Pullback In Context (We’ve Seen Something Similar Twice This Year)
- Weekly Market Preview (All About Earnings and Data)
- Weekly Economic Cheat Sheet (Market Needs a Confidence Boost)
Futures are moderately lower following a generally quiet weekend, as markets digest Friday’s bounce.
Nothing outright negative occurred over the weekend to cause the resumption of selling. But, there was no improvement in any macro headwinds either and as such markets are digesting Friday’s gains.
There were no notable economic reports overnight.
Today focus will turn towards economic data and we get two important reports: Retail Sales (E: 0.6%) and Oct. Empire Manufacturing Survey (E: 19.3). Strong readings will give the market a needed boost of confidence as they’ll remind investors the economic remains strong.
On the earnings front, activity picks up starting tomorrow but there are two notable reports today: BAC (E: $0.62), SCHW (E: $0.64).