The market just seems like it can’t find the middle
“The market just seems like it can’t find the middle,” Sevens Report Research’s Tom Essaye told Barron’s in a phone interview.
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Investors still view ‘bad data as good for stocks’
“For now, investors still view ‘bad data as good for stocks’ as it makes rate cuts more likely so a small miss vs. expectations should extend the early rally,” writes Sevens Report Research’s Tom Essaye.
Breadth matters because it basically speaks to investor conviction about fundamentals
Breadth matters because it basically speaks to investor conviction about fundamentals, Sevens Report Research’s Tom Essaye tells Barron’s.
Investors will need to see economic data that remains goldilocks
“With stocks sitting on record highs investors will need to see economic data that remains ‘goldilocks,’ the absence of any hawkish Fed surprises, steady yields, good retailer earnings, and solid guidance from AI bellwether Nvidia to meaningfully advance beyond current levels,” Tom Essaye at the Sevens Report said in a note to clients.
The key is whether the data warrants a hike
“The key is whether the data warrants a hike and there’s virtually nothing in the day that implies a hike is needed,” Sevens Report Reserach’s Tom Essaye told Barron’s.
Gasoline supplied was the most important figure in the release
Gasoline supplied was “the most important figure in the release as it is a key, high-frequency proxy for consumer gasoline demand and ultimately consumer sentiment and a gauge on general willingness to spend discretionary money,” said Tyler Richey, co-editor at Sevens Report Research.
No relation to the recent geopolitical tensions
Analysts at Sevens Report Research wrote in Tuesday’s newsletter that the crash was deemed to be “an accident and had no relation to the recent geopolitical tensions between Iran and Israel, which allowed for some of the fear bids added on Friday ahead of the weekend to come unwound” at the start of Monday’s trading.
If Nvidia’s earnings are soft, you’ll see some weakness in tech
“I think if Nvidia’s earnings are soft, you’ll see some weakness in tech, especially, although I don’t think that a bad Nvidia earnings print carries with it the same danger that it would have seen in February or November,” Sevens Report Research’s Tom Essaye tells Barron’s.
One of the worst possible investing environments for stocks and bond holders
March CPI report, as it represents “one of the worst possible investing environments for stocks and bond holders,” market commentary Sevens Report said in a recent note.
A near-term technical signal of potential exhaustion in the latest leg higher in stocks.
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.”