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The upcoming week is loaded with potentially significant directional markets catalysts such as earnings from mega-cap industrial names like CAT, BA, and XOM, as well as from technology powerhouses AAPL, FB, AMZN, AMD, and QCOM. At the end of the week, the BLS is scheduled to release the December Employment Report.
To my mind, though, the most consequential potential market-moving “events” will occur Wednesday afternoon starting at 2 PM ET, when the FOMC releases its next policy statement, and at 2:30 PM ET, when Fed Chairman Powell addresses reporters at the post-meeting press conference. The Fed will clearly have Apple Inc. (AAPL)’s earnings news from Tuesday after the bell on its mind.
What IS the magic of this number? It’s annoying and ridiculous. Anyway, just like last week, we hit 2626 and BANG up we bounce.
I also wanted to mention that we DID manage to break a few things with our deployment last night, but one by one they’ve been getting fixed. If you had any troubles earlier, do a Ctrl-F5 on the website and see if it’s better. Any problems, drop me an email and let me know the particulars.
My distrust of this market has the meter pegged at about “100”, so as pleasing as it is to see the ES and NQ down double-digits, I view the entire affair with enormous suspicion. In any case, the market eroded drip by drip all night long, affirmed by a hard fall in major industrial player Caterpillar: