Why Don’t Stocks Drop On Bad News?
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What’s in Today’s Report:
- Why Don’t Stocks Drop On Bad News
- Weekly Market Preview: Earnings Are the Key This Week
- Weekly Economic Cheat Sheet: Important Growth Data on Thursday
Futures are slightly higher following a quiet weekend of news as investors look ahead to the first busy week of Q3 earnings and more important economic data.
Economically, Chinese exports missed expectations and the latest stimulus announcement underwhelmed, but none of it was bad enough to reverse any more of the recent rally.
This week is full of potentially market moving events from earnings and economic data but they all come later in the week and today should be mostly quiet given it’s the Columbus Day holiday (banks and bond markets closed) and there are no notable economic reports. We do get a few Fed speakers, however (Kashkari (9:00 a.m. ET & 5:00 p.m. ET), Waller (3:00 p.m. ET)), but they shouldn’t move markets.
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