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.
Gasoline demand is being closely watched as a high-frequency proxy for consumer spending, said Tyler Richey, co-editor at Sevens Report Research.
There are only really three important weeks of earnings season, and Disney comes the week after it, Sevens Report Research’s Tom Essaye told Barron’s