Where Are We In the Bull Market Cycle? (One Year Later)
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What’s in Today’s Report:
- Where Are We In the Bull Market Cycle? (One Year Later)
Futures are moderately lower as markets continue to digest the market implications of the Republican win while economic data was mixed.
The U.S. Dollar at near two-year highs along with the 10-year yield pushing 4.50%, combined with Trump’s recent unorthodox cabinet picks, is causing investors to re-assess the potential impacts of the incoming Republican government.
Focus today will be on economic data and given the less dovish rhetoric from Fed officials this week, markets will want to see in-line to slightly soft reports to keep rate cuts on track. If the data is hotter than expected, look for yields to rise and stocks to extend the early losses. The important reports today include Retail Sales (E: 0.3%), Empire Manufacturing (0.0) and Industrial Production (E: -0.3%) and we have one notable Fed speaker, Williams (1:15 p.m. ET).
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