Thursday was another bad day in the market. Analysts say this moves the major indexes into a “correction.” News reports state that investors have pulled out 24 billion from stock funds in the last week. However in the pre- market it looked like Futures prices pointed to a market rebound this morning. Discussion of future Interest rate hikes this year have also worked against higher stock prices. Bond Market pricing shows a marketplace concern about increased government spending.
- December Wholesale Inventories increased 0.4%, (Barron’s Consensus was +0.2%) increase. November reading revised to +0.6% from +0.8
- Brookfield Infrastructure Partners, Cboe Global Markets, Moody’s, and Pacific Gas & Electric are notable corporations releasing quarterly earnings today.
- Central Bank of Russia announces their Interest Rate decision
- Fitch reviews credit ratings for Germany, Finland and Czech Republic
- The 2018 Winter Olympic Games Opening Ceremonies take place in PyeongChang, South Korea