Sevens Reports - Stock Exchange

Is the Debasement Trade Back?

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What’s in Today’s Report:

  • Is the Debasement Trade Back?

Futures are moderately higher following stronger than expected tech earnings and guidance overnight.

Nvidia earnings were generally in-line but guidance was much stronger than expected (70% revenue growth next year) and that’s boosting tech and futures.

Economically, German GfK Consumer Climate was better than expected (-26.6 vs. (E) -29.2).

Today we do get one economic report, Jobless Claims (E: 208K), but the real focus will be on earnings as there are several notable reports including, in order of importance:  MRVL ($0.65), WDAY ($1.26), ULTA ($6.20), AFRM ($0.33), BBY ($1.37), DG ($2.00) and DLTR ($1.12). Strong earnings (and solid guidance) will help stocks extend this early rally.

 

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