How the Magnificent Seven and the Kansas City Chiefs Are Similar
How the Magnificent Seven and the Kansas City Chiefs Are Similar (Bubble Watch): Start a free trial of The Sevens Report.
What’s in Today’s Report:
- How the Magnificent Seven and the Kansas City Chiefs Are Similar (Bubble Watch)
- Chart: Visualizing Historical P/E Ratios for the Magnificent Seven
Futures are mildly lower as traders look ahead to the Fed minutes release this afternoon and NVDA earnings after the close.
Overseas, Chinese stocks rallied to turn positive YTD after authorities expanded measures aimed at stabilizing the markets while Australian wage growth rose 4.2.% vs. 4.1% y/y prompting some modestly hawkish money flows.
There are no notable economic reports today, but the January Fed meeting minutes will be released at 2:00 p.m. ET and that could move Treasury yields and ultimately impact stocks.
Additionally, there are two Fed speakers today: Bostic (8:00 a.m. ET) and Bowman (1:00 p.m. ET), as well as a 20-Yr Treasury Bond auction (1:00 p.m. ET). Any of those events could also move yields and influence equity trading intraday, but the main event today is NVDA earnings (E: $4.55/share) and markets will likely maintain a positioning tone into the quarterly report after the bell.
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