As for the announcements today, GDP will be reported at 8:30am EST and Consumer
Sentiment will be reported at 9:55am EST. The last estimate of GDP was 1.2% and
the market does not expect to see much more than that today.
In better news the S&P 500 will open on an increase of 1.65%. 10-year treasuries
and oil join the upward trend at 2.08% and 0.60% respectively while the dollar is
down 0.20%.
Merck reported earnings today of 58 cents a share, beating Wall Street’s
expectations but down from 65 cents last year. The drug company’s net income
fell 1.4% due to restructuring and acquisition costs but despite the high expenses,
Merck’s sales did rise this quarter.
Make sure to check out our weekly webinar and follow us on Twitter
@keeneonmarket!