What’s in Today’s Report:
- We Are Excited to Announce a New Service Launching This Monday, May 8th – Sevens Report Technicals (Details Below)
- FOMC Preview – Will the Fed Signal a Pause Tomorrow?
- ISM Manufacturing Index Takeaways: Stagflation Risks Rising?
Stock futures are slightly lower as investors digest an unexpected rate hike by the RBA and mixed economic data overnight.
The RBA raised rates 25 bp to 3.85% overnight (E: no change) citing stubbornly high inflation which triggered a hawkish reaction in markets in overnight trading.
Economically, European Manufacturing PMI data was largely in line with estimates although the readings remained deep in contraction territory while the “Narrow Core” HICP Flash reading for April was 5.6% vs. (E) 5.7%, the first decline in the reading in 10 months. On balance, the European data eased some of the hawkish concerns weighing on risk assets in pre-market trading.
Today, there are a few economic releases to watch: Motor Vehicle Sales (E: 14.8 million), Factory Orders (E: 1.3%), and JOLTS (E: 9.650 million) and investors will want to see signs of a continued but steady slowdown in growth and easing price pressures in order to keep soft landing hopes alive.
Earnings season continues today with UBER (-$0.10), PFE ($1.00), BP ($1.33), MPC ($5.75), and SYY ($0.92) reporting before the bell, and AMD ($0.56), F ($0.39), and SBUX ($0.64) after the close.
Introducing Sevens Report Technicals – A New Timely Report Dedicated to Technical Analysis
I’ve always wanted to do more to help advisors grow their businesses, and the incredibly enthusiastic response to last week’s special technical report confirmed to me that there is a need for more technical research.
So, today I’m very proud to announce the creation of a new research solution to complement the daily Sevens Report: Sevens Report Technicals.
Sevens Report Technicals will provide in-depth technical analysis of all of the asset classes, investment styles, and market sectors that we cover in the daily Sevens Report. I’ve long believed we need both fundamental and technical analysis to best navigate markets, so we created Sevens Report Technicals to be the perfect complement to the fundamentally driven Sevens Report.
Ten-year Sevens Report veteran Tyler Richey, CMT, will be the lead analyst on Sevens Report Technicals.
Sevens Report Technicals will be delivered at the start of each trading week, and will be similar in appearance and coverage to last week’s popular special technical report. The first issue will be delivered this coming Monday, May 8th.
Sevens Report Research is a retention-driven business, so like all our research products, pricing for Sevens Report Technicals will be among the lowest in the industry for the quality and depth of analysis provided at just $225/quarter or $825 per year (a savings of $75). We are also extending a one month “Grace Period” where you can choose to cancel and receive a full refund—so there is literally no risk to try Sevens Report Technicals and see if it’s right for your business!
Additionally, we are offering even more savings to existing Sevens Report Research subscribers by extending a special, limited-time offer of one additional month free on a quarterly or annual subscription. That means quarterly subscribers get four months but only pay for three (a $75 dollar savings) while annual subscribers get 13 months but only pay for 11 (a $150 savings!).
To start your risk-free trial of Sevens Report Technicals and claim your additional one-month free offer, please send an email to firstname.lastname@example.org and we’ll handle the rest.
To see last week’s special edition technical report, click here.
To learn more about Sevens Report Technicals, including the inspiration behind it, please click this link.