Sevens Report’s Tom Essaye quoted in CNBC on December 26, 2018

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Sevens Report’s Tom Essaye quoted in CNBC on December 26, 2018. Click here to read the entire article.

Valuation Update

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What’s in Today’s Report:

  • Valuation Update and a New “Fair Value” Trading Range

Futures are extending the late Thursday gains and are modestly higher thanks to momentum.

Economically, Japanese data disappointed as the Unemployment Rate (2.5% vs. (E ) 2.4%) and Retail Sales (1.4% vs. (E) 2.2%) missed expectations.

Today investors will see if the year-end bounce can continue.  There are a few economic reports including International Trade in Goods (E: -$75.7B), Chicago PMI (E: 62.4) and Pending Home Sales Index (E: 1.5%) but none of those should move markets materially.