Sevens Report - Mobile view of stock market analysis today

A Tale of Three Markets

/in , /by

What’s in Today’s Report:

  • A Tale of Three Markets

Futures are moderately lower as markets await the next steps in the U.S./Iran ceasefire process while tech earnings underwhelmed overnight.

There was no new U.S./Iran news overnight as markets await the details of the next in-face U.S./Iran talks.

On earnings, IBM (down 7%) and TSLA (down 3%) underwhelmed on earnings and that’s weighing on futures.

Today focus will stay on U.S./Iran and key events now are 1) When the next face to face meeting happens (chatter implies this weekend) and 2) The dual naval blockades of the Strait of Hormuz (any hint they could end would be positive).

Away from the Strait of Hormuz, there are important economic reports today including Jobless Claims (E: 210K), the Flash Manufacturing PMI (E: 52.5) and the Flash Services PMI (E: 50.0) and the stronger the data, the better as it’ll push back on stagflation concerns.

Finally, earnings season continues to heat up and two important reports today are AXP ($4.03) and INTC ($-0.11).

 

Tags: , ,