After six exciting green days, stocks hit all-time highs on Thursday as the rally continues. This morning, futures are softer following weak earnings reports from Snapchat (SNAP) and Intel (INTC).
Earnings continue to dominate the news feeds and push individual stocks and markets around. Expect those stocks with earnings announcements to have larger than normal moves. Jerome Powell speaks this morning at 11 am ET. Pay attention to whether or not he sticks with the plans for QE as the recent Fed minutes discuss.
We suspect he will.
What To Watch Today
At 9:45 ET this morning we will see:
Markit U.S. Manufacturing PMI, October preliminary (60.5 expected, 60.7 in September)Markit U.S. Services PMI, October preliminary (55.2 expected, 54.9 inRead More »