Mike’s Morning Brief: A fast-break rundown of what’s going on.
Market opens in the green with all 3 major indices hitting fresh, all-time highs. It’s really remarkable how well this overall Market has held in in the face of so many issues and seemingly overbought. Earnings continue to pour in with a solid tone, and the participation has expanded, making it a broad-based rally. Tensions continue to rise along the Korean Peninsula. It’s Fed day, and the the central bank will release its statement from the July meeting at 11a. As always, investors will pay close attention to wording to see if there are any changes to their thinking about the US economy and monetary policy. Interest rates are flat ahead of the announcement. Crude continues to catch a bid with the WTI over $48. Inventories this morning will influence pricing, and expectations are building for another drawdown. The Senate couldn’t get enough votes to repeal and replace Obamacare last night. More votes are coming this week to tweak the bill. There is a lot going on…
Have a great morning,