Overall, the Intel mid-quarter update was quite bullish. I would suspect unless something major happens overnight you are looking at a higher opening based on the Intel news.
More Quotes from Paul Mendelsohn:
Everybody pretty much knows what they're going to do -- they're going to raise the fed funds rate, ... everybody's going to be looking at their policy statement to see what the future is going to bring.Paul Mendelsohn
The PPI is important because it's the first piece of real inflation data of the year. And while the PPI has been rising, the CPI has not been keeping pace. Corporate America must be getting squeezed in the middle.
Paul Mendelsohn
However, the market has already discounted first-quarter earnings, and maybe even second, ... The greater concern is about the economy going forward.
Paul Mendelsohn
Most traders will really be positioning for the October employment report. Economists are expecting that non-farm payrolls rose by approximately 50,000 during the month, providing evidence that with two straight months of employment growth, the jobs picture is finally turning around.
Paul Mendelsohn
Hopes for a good report on consumer confidence today is helping stock futures this morning. Any signs of higher confidence, which turn into higher spending, will be supportive to the markets.
Paul Mendelsohn
Investors are turning their attention from an end to Federal Reserve rate hikes to fourth-quarter earnings, the first-quarter outlook and the release of economic data. Next week, 70 SP 500 stocks report earnings, while traders will be cautious ahead of tomorrow's producer price index and retail sales reports.
Paul Mendelsohn
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I won't be having any more kids, though. Four is enough.
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