US stock futures are pointing to a higher open in equities markets Friday to close out a poor week for stocks. A negative GDP growth revision–to 2.8% from 3.2%–is eating into those gains, but the S&P futures still sit about 7-8 handles above fair value. Economists are weighing in on the effect of rising oil prices on the recovery, with some suggesting an oil spike carries with it an outside chance of a double dip. Oil holds the key to this market right now, continue to watch the political headlines and wait for price action to confirm longs.
For more individual market and stock commentary, watch Scott Redler’s Daily Recap video below.
*DISCLOSURE: Scott is long AAPL, SPY, JPM, NYX.
This material is being provided to you for educational purposes only. No information presented constitutes a recommendation by T3 LIVE or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy. The content neither is, nor should be construed as, an offer, or a solicitation of an offer, to buy, sell, or hold any securities. You are fully responsible for any investment decisions you make. Such decisions should be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance and liquidity needs. Visit the T3Live Homepage, Virtual Trading Floor, and Learn More About Us.
