Neat --right after seeing gains in metals and stocks yesterday this morning futures traders are predicting more of the same! I mean, profit taking isn't as much fun by oneself while everyone else is still out having all the fun, but then again the saying is still true that "nobody ever went broke taking a profit".
Reports today: MBA Mortgage Index, Challenger Job Cuts, ADP Employment Change, Factory Orders, Crude Inventories; this morning's stories:
- Global stocks higher on US, China growth World stocks were mostly higher Wednesday on improved U.S. and Chinese economic activity.
- Bull Market in Borrowing: Corporate Debt Skyrockets to $9.6 Trillion July 1, 2014 Ronald Delegge. How healthy are corporate balance sheets? It depends who you ask. One news outlet said that U.S. firms are hoarding a record $1.6 trillion in cash... Read More
- Dollar About 0.2% From Six-Week Low Before Yellen; Aussie Falls Businessweek - 6:56am The dollar was about 0.2 percent from a six-week low versus the euro before Federal Reserve Chair Janet Yellen speaks today, while Australia's currency tumbled after the trade deficit widened more than economists forecast.
- Auto Sales Reach New Heights Nick Mastrandrea - Market Tea Leaves - 22 mins ago Yesterday the Dow was 1 point shy of the proverbial 17,000 level. Will it exceed that today? Read on to learn more... (full story)
- I Remain Bullish The S&P 500 Michael Seery - Seery Futures - Tue Jul 01, 5:26PM CDT 2000 is coming very soon in my opinion (full story)
- And You Thought The Last Meltdown Was Brutal.. - Judy Shelton, The Hill
- What the Market's 1st Half Says About 2nd - Mark Hulbert, MarketWatch
- Market's Correction-Free Run Tops 1,000 Days - Adam Shell, USA Today