[MUSIC PLAYING]
Good morning.
It's Scott Garliss at
Stansberry Research.
Today is Thursday,
June the 22nd.
It's your Morning NewsWire.
Markets are lower this morning.
Not significantly.
S&P futures were off
one to two points.
It's around ongoing growth
and inflation concerns.
You had cautious commentary from
Bank of Japan deputy governor
overnight.
You also have the Fed's
[? Pau ?] speaking
before the Senate
Finance Committee today.
He's not expected to talk
about the economy, though.
What he is going to focus
on is banking regulation.
He'll be there with
the OCC commissioner.
They are expected to say the
government needs to ease up
on banking regulation.
This should be a positive
for the financial sector.
Also, you have Fed stress test
results out after the close.
What they are going to focus
on is the capitalization
of the banks.
This should be a positive for
the financial sector also.
Next week, you get the second
round of stress test results
released, and they are going to
focus on increasing dividends
and buybacks.
They are also expected
to be a positive.
Overnight, we had
Oracle put up earnings.
They put up very good numbers.
The stock is up
nicely pre-market.
This should bode well
for the technology
sector in light of the positive
earnings we saw yesterday.
If you're invested
in technology shares,
I recommend you take
a look at the work
that Porter and his team have
done in the total portfolio,
in addition to Stansberry
Venture Technology.
Also, we have the
Kuwaiti oil minister
out this morning asking
for OPEC producers
to do all they can to support
the supply cut accord.
This has oil up.
In addition, Qatar
Airways is going
to take a 10% stake
in American Airlines.
Maybe this does
something to diffuse
the tension in the Middle East.
We'll see.
Lastly, going
forward, we are going
to be looking at the
slate of Fed governors
the next couple of days,
in particular tomorrow,
for any clues on growth.
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