Market Multiple Table Chart: Bullish Momentum vs. Fair Value
Market Multiple Table Chart: Bullish Momentum vs. Fair Value: Start a free trial of The Sevens Report.
What’s in Today’s Report:
- Market Multiple Table Chart: Bullish Momentum vs. Fair Value
- EIA Analysis and Oil Market Update
Futures are modestly higher as stocks rebound from Wednesday’s late day dip ahead of key economic data.
Economically, the only notable number was Swedish CPI which rose 2.5% vs. (E) 2.8% and that’s reinforcing summer rate cut expectations.
AI enthusiasm got a small boost overnight as Apple supplier Foxconn posted optimistic guidance on strong AI server demand.
Today focus will be on economic data, especially Jobless Claims (E: 218k) and Retail Sales (E: 0.8% m/m). Continuing claims (contained in the jobless claims report) and retail sales disappointed recently and if we see that again, it’ll add to growth concerns and could hit stocks.
On inflation, we also get PPI (E: 0.3% m/m, 1.1% y/y) and given CPI ran a touch hot, it wouldn’t be a surprise if PPI did the same. But, it’ll likely take a much hotter than expected number to hit markets (because they’ve already priced in the slightly hot CPI report).
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