Fed speakers are on the agenda again Thursday. St. Louis Fed President James Bullard speaks at 11:50 a.m. EDT. Then San Francisco Fed President John Williams appears on CNBC at 1:40 p.m., from the Hoover Institution's International Monetary Stability Conference. Bullard and Williams also join a panel at the conference with Atlanta Fed President Dennis Lockhart and Dallas Fed President Rob Kaplan.
And while traders say the markets did not move on it, they are watching the U.S. presidential election. Donald Trump became the presumptive Republican candidate Wednesday after he won Indiana Tuesday, and both Ted Cruz and John Kasich dropped out of the race.
"I think now that we know that Trump has it, people are going to wait to see who does he surround himself with. Now it's game time. Does he worry people with some nonconventional picks? People need to see if he's going to moderate some of his campaign ideas or is he going to sound as looney as he sometimes sounds? said Boockvar. "I think it's still early for the market to worry about it, but it does add another level of worry about where this all goes."
Earnings expected Thursday morning EDT include Alibaba, Merck, Occidental Petroleum, Chesapeake Energy, Kellogg, Martin Marietta Materials, Church and Dwight, AMC Networks, Time Inc, SeaWorld, Apache Petroleum, Fortress Investment and Becton Dickinson before the bell. Activision Blizzard, News Corp, Wynn Resorts, EOG Resources, Fiserv, Motorola Solutions, Dreamworks Animation, Yelp, ElPollo Loco, FireEye, GoPro and Tableau Software report after the closing bell.
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