Economic data this week has not been positive for stocks
Economic data this week has not been positive for stocks and while it hasn’t invalidated any of that bullish mantra, it has weakened it, Tom Essaye, founder of Sevens Report Research, said.
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Economic data this week has not been positive for stocks and while it hasn’t invalidated any of that bullish mantra, it has weakened it, Tom Essaye, founder of Sevens Report Research, said.
While the fundamentals are positive, they still don’t justify current valuations — making the market vulnerable to a negative surprise.
The AI craze is a modern gold rush, and the tech ‘picks and shovels companies’ are seeing earnings explode as companies buy chips and cloud space to fuel the boom…said Tom Essaye.
While the fundamentals are positive, they still don’t justify current valuations — making the market vulnerable to a negative surprise…according to Tom Essaye, founder of the Sevens Report.
“Hawkish central-bank policy is bad for the oil market, because high interest rates over time act as a steady headwind…Tyler Richey, co-editor at Sevens Report Research, told MarketWatch.
“Retail sales is the next big number and then we’ll go from there,” Sevens Report Research’s Tom Essaye told Barron’s.
Sevens Report Research’s Tom Essaye told Barron’s in a phone interview that while the headline figure didn’t meet expectations, the numbers didn’t counter existing market narratives.
The initial market reaction to the CPI release was “a hawkish one, which saw oil prices decline to session lows,” said Tyler Richey, co-editor at Sevens Report Research.
How oil futures close out the week today will largely depend on how investors digest today’s jobs data. If it is more ‘market-friendly…analysts at Sevens Report Research said in a note.
The jobs report was Goldilocks, but it also added to some hints that there may be some weakness forming in the labor market…Essaye said.
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