Expectations of a “higher-for longer” policy by the Federal Reserve are weighing on the demand outlook and have therefore acted as a headwind for U.S. benchmark oil prices recently, Tyler Richey, co-editor at Sevens Report Research, told MarketWatch.
The burden of proof lies squarely with the bears and so far, the economic data and Fed speak hasn’t done enough to disprove any of those four bullish factors,” wrote the firm.
Last week’s news and data reinforced the four drivers of this bull market: Fed rate cuts by May, solid economic growth, continued disinflation and strong earnings, according to Tom Essaye at the Sevens Report.
European shares edged up on better than feared Retail Sales and a very strong German Manufacturing Orders Report, said Tom Essaye, founder of Sevens Report Research.
The oil market has seemed skeptical of the potentially positive demand implications of the recent string of strong economic data, though prices did move up in the wake of the better-than-expected ISM report, Tyler Richey, co-editor of Sevens Report Research, told MarketWatch.
What Is The VIX Suggesting? A break above the December high for the VIX “would suggest more volatility looming ahead…said Tom Essaye.
Gasoline and distillate fuel supplied, which is typically viewed as an implied measure of consumer demand fell off a cliff said Tyler Richey.
Sevens Research said the S&P 500 is starting 2024 trading at a very lofty 19.5X valuation. While they don’t believe the valuation is…
The S&P 500 is starting 2024 trading at a very lofty 19.5x valuation and while I’m not going to say that valuation is…said Tom Essaye
Tom Essaye, joins BNN Bloomberg to discuss the markets as investors hope for rate cuts from the Fed as early as march.