“I think if Nvidia’s earnings are soft, you’ll see some weakness in tech, especially, although I don’t think that a bad Nvidia earnings print carries with it the same danger that it would have seen in February or November,” Sevens Report Research’s Tom Essaye tells Barron’s.
March CPI report, as it represents “one of the worst possible investing environments for stocks and bond holders,” market commentary Sevens Report said in a recent note.
Tom Essaye, publisher of Sevens Report Research, described this turnaround as “a near-term technical signal of potential exhaustion in the latest leg higher in stocks.”
The meme stock rally “hints at a lingering complacency amongst investors,” Sevens Report founder Tom Essaye wrote to clients Tuesday.
But Sevens Report Research’s Tom Essaye told Barron’s in a phone interview that even after the revisions, the data was really mostly in line.
Tom Essaye, founder of Sevens Report Research, took a look Tuesday at potential “good, bad and ugly” outcomes for the April consumer-price index reading.
“Stagflation doesn’t have to be as bad as it was in the 1970s, but for a stock market that’s trading above 21 times earnings, the truth is that even a small bout of stagflation would result in a 10%-20% decline in stocks,” said Tom Essaye, founder of Sevens Report Research, in a Monday note.
Sevens Report Research’s Tom Essaye writes that the key parts of the release will be one-year inflation expectations and five-year inflation expectations.
The U.S. consumer sentiment report was the latest data point to “offer a whiff of stagflation,” said Tyler Richey, co-editor at Sevens Report Research.
“Gasoline demand is being closely watched as a high-frequency proxy for consumer spending,” said Tyler Richey, co-editor at Sevens Report Research.