What Powell and Uedas’ Friday Comments Mean for Markets
What Powell and Uedas’ Friday Comments Mean for Markets: Start a free trial of The Sevens Report.
What’s in Today’s Report:
- What Powell and Uedas’ Friday Comments Mean for Markets
- Weekly Market Preview: A Big Week for Tech Earnings (Including NVDA on Wednesday)
- Weekly Economic Cheat Sheet: A Most Quiet Week But Thursday/Friday Are Important
Futures are slightly higher following a mostly quiet weekend, thanks to momentum from Friday’s rally as investors digest Powell’s promise of coming rate cuts.
Economically, the only notable number overnight was the German Ifo Business Expectations and it slightly beat estimates (86.8 vs. (E) 86.5).
Geopolitically, a cease fire was not reached this weekend between Israel and Hamas although investors remain optimistic that a deal is close.
Today the only notable economic report is July Durable Goods (E: 4.0%) and markets will want to see stability in the data (so close to expectations) to ensure the recent plateau in business spending isn’t becoming a decline. If Durable Goods is in-line, expect a continuation of the early rally.
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.
