The Right Way to Think About Economic Growth Right Now
The Right Way to Think About Economic Growth Right Now: Start a free trial of The Sevens Report.
What’s in Today’s Report:
- Hard Landing/Soft Landing Scoreboard (The Right Way to Think About the U.S. Economy)
Futures are slightly lower following a mostly quiet night of news as markets digest Thursday’s strong rally.
The only notable economic report overnight was UK retail sales, which rose 0.8% vs. (E) 0.5% and added to Thursday’s haul of solid global data.
Geo-politically, Israel/Hamas ceasefire talks continued and any breakthrough would be a surprise market positive.
Today there are a few notable economic reports including Consumer Sentiment (E: 67.0), 1-Yr Inflation Expectations: (E: 2.9%), 5-Yr. Inflation Expectations (E: 3.0%) and Housing Starts (1.342M). However, those numbers aren’t that important to growth so barring a major surprise, they shouldn’t move markets and we should mostly see digestion of Thursday’s big rally.
There is also one Fed speaker today, Goolsbee (1:25 p.m. ET), and he’s dovish do don’t be surprised if he openly talks about cutting rates in September.
Join thousands of advisors from huge brokerage firms like Morgan Stanley, Merrill Lynch, Wells Fargo Advisors, Raymond James, and more! To start your quarterly subscription and see how The Sevens Report can help you grow your business, click here.
