Major averages rose on higher volume. The September FOMC minutes will be released this afternoon at 2 pm ET. Investors will analyze the wording carefully, looking for anything that might adjust their rate-hike expectations. The CME FedWatch Tool currently places the chances of a December rate hike at 93.1%.
Earnings season will unofficially kick off tomorrow morning with earnings from financial heavyweights JPMorgan (JPM) and Chase (C). S&P 500 earnings are expected to increase just 2.8%, down from an estimated growth rate of 7.5% primarily due to hurricane-related insurance claims.
Focus List Notes:
NFLX is within buying range of last Thursday's cup-with-handle breakout. We would suggest using the 20-dema as a tigher selling guide vs. the standard O'Neil style stop-loss of 7-8%.
WTW finally held a closing higher high yesterday as it again rallied off the 50-dma, the fourth time it has done so over the past seven trading days.
Market Lab Report - Premarket Pulse 10/11/17
|Published:||11 Oct 2017 09:20 ET|
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