Sevens Report - Technical Stock Analysis Update

New ETFs for Your Watchlist

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What’s in Today’s Report:

  • New ETFs for Your Watchlist (February Launches)

Futures are higher as oil pulls back while investors await the FOMC decision later today.

Oil is lower after an Iraq export deal eased supply concerns, although geopolitical risks remain elevated near the Strait of Hormuz. And chip stocks are helping sentiment after Nvidia said it restarted H200 production for China

Economically, Eurozone CPI met expectations and is not moving markets.

Today focus is squarely on the FOMC decision (2:00 p.m. ET) and Powell’s press conference (2:30 p.m. ET). Markets will want a balanced tone that acknowledges inflation risks without signaling a more hawkish path.

Lastly, we will get earnings reports due from GIS ($0.76), M ($1.53), MU ($8.64), FIVE ($3.99) today.

 

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