Pain Trade Sevens Report

More Growth Fears

The Aussie-Yen points to further growth fears, S&P futures are tracking international shares lower to start the year this morning, the Chinese Caixin Manufacturing PMI Index fell 0.5% to 49.7 in December suggesting the world’s second largest economy is slipping into contraction. there is one economic report to watch: PMI Manufacturing Index and more.

Valuation Update

Valuation Update and a new “Fair Value” trading range, futures are extending the late Thursday gains, today investors will see if the year-end bounce can continue, there are a few economic reports including International Trade in Goods (E: -$75.7B), Chicago PMI (E: 62.4) and Pending Home Sales Index (E: 1.5%) but none of those should move markets materially and more.

More Unforced Errors

More unforced errors, stock futures are bouncing modestly this morning, news flows were mostly quiet over the last 48 hours however President Trump did make supportive comments regarding Secretary Mnuchin after he spooked markets Monday and continued to blame the Fed for the recent selloff and more.

Bounce Coming?

What’s in Today’s Report: Why We Could Be Close to a Bounce Futures are modestly lower following the surprise resignation of Defense Secretary Mattis. Mattis was seen as a stabilizing force in the administration, so his resignation is an incremental negative on general sentiment and that’s pressuring stocks this morning. Economically, Q3 British GDP met[…]

FOMC Takeaways (Not Good)

FOMC Decision Takeaways, futures are slightly higher, it was a quiet night of news as there were no new headlines on trade, today focus will remain on the economic data, which becomes even more important in the face of the not dovish enough Fed. We get to notable reports today, Jobless Claims (E: 220K) and Philadelphia Fed Business Outlook Survey (E: 16.5) and if the later misses expectations, look for more selling and more.