Things aren’t as bad as people were afraid of
The bottom line is that things aren’t as bad as people were afraid of about 10 days ago, and now the market is rallying…Essaye says.
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Optimism regarding a ceasefire between Israel and Hamas had been building
“Optimism regarding a ceasefire between Israel and Hamas had been building over the last week or so, and that was reflected in last week’s steep drop in oil futures price,” Tyler Richey, co-editor at Sevens Report Research, told MarketWatch.
An S&P 500 Priced for Perfection: May MMT Chart
What’s in Today’s Report: May MMT Chart: An S&P 500 Priced for Perfection and more…
Markets have held up well to a dramatic reduction in rate-cut estimates
“Since the start of the year, markets have held up well to a dramatic reduction in rate-cut estimates,” Tom Essaye, founder and president of Sevens Report Research, said.
Earnings in those tech companies are really important
Bottom line, there are a lot of potential catalysts for markets today but the key to stocks stabilizing…writes Sevens Report Research’s Tom Essaye.
Earnings in those tech companies are really important
I can tell you with a lot of confidence that if Google [parent Alphabet] and Microsoft did not post strong earnings last week, we would be below 5000 in the S&P 500 Sevens Report Research’s Tom Essaye told Barron’s.
Sevens Report Research’s Tom Essaye Quoted by Barron’s in a Phone Interview
“What I think that’s doing is reminding everybody, after a couple of days of a breather, that there’s really a long and growing list of indicators that are showing price pressures are firming up,” Essaye says.
Today’s moves are being driven by the tech earnings
“Most of today’s moves are being driven by the tech earnings, which is helping ease the anxiety from Thursday’s results,” Sevens Report Research’s Tom Essaye told Barron’s.
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.
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.