There is certainly still a geopolitical fear bid in oil markets
There is certainly still a geopolitical fear bid in oil markets here with prices in the low $80s,” Tyler Richey, co-editor at Sevens Report Research, told MarketWatch.
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Gasoline supplied, dropped to the lowest level since mid-February
The most notable takeaway from the Energy Information Administration report Wednesday was the weekly implied measure of consumer demand for fuel at the pump, gasoline supplied, which dropped to the lowest level since mid-February, said Tyler Richey, co-editor at Sevens Report Research.
The stock-market selloff has removed some of its positive bias
Tom Essaye, founder of Sevens Report Research, said the slump in bullish sentiment since November indicates the stock-market selloff has removed some of its positive bias, but that it also implies a return to a “normal” market sentiment.
Yields fell and stocks rose following a soft S&P Global Flash U.S. Composite PMI
Sevens Report Research’s Tom Essaye told Barron’s that yields fell and stocks rose following a soft S&P Global Flash U.S. Composite PMI.
Today, we’re in a very, very classic ‘bad is good’ reaction to the Flash PMIs
Sevens Report Research’s Tom Essaye told Barron’s that though upbeat earnings reports set a positive tone, the market was gaining after the S&P Global Flash U.S. Composite PMI came in lower than expectations.
Still “a simmering” geopolitical fear bid in the global oil market
Tom Essaye, founder of the Sevens Report Research, said there is still “a simmering” geopolitical fear bid in the global oil market which is keeping futures above the $80-a-barrel level.
Tom Essaye Interviewed on Schwab Network
American Express (AXP) rises after beating earnings. The Sevens Report’s Tom Essaye and Morningstar’s Michael Miller discuss this as American Express’ 1Q revenue grew 11% year-over-year.
Bull Market Warning From Dow Theory
What’s in Today’s Report: Dow Theory Update: Transports Rolling Over (Charts Included), Flash PMI Takeaways – Signs of Weakness.
It’s very early in the quarter, but it’s not off to a great start
Sevens Report Research’s Tom Essaye told Barron’s that traders that have been worried about soaring tech valuations took the first wave of earnings reports as an opportunity to sell.
As you see people reducing tech exposure, you’re getting the whole gamut being sold
“As you see people reducing tech exposure, you’re getting the whole gamut being sold,” Essaye says.