Can Stocks Go Back-to-Back-to-Back?
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What’s in Today’s Report:
- Can Stocks Go Back-to-Back-to-Back?
- Why CPI Was An Important Positive for Markets
- EIA Analysis and Oil Market Update
Futures are modestly higher thanks mostly to solid earnings and guidance from Taiwan Semiconductor (TSM).
For AI related tech companies, guidance will be key this earnings season and TSM posted better than expected revenue guidance and the stock is up 5% pre-market.
Economic data overnight largely met expectations.
Today will be a busy day of notable economic data and earnings. On the economy, we get several important reports today including, in order of importance, Retail Sales (E: 0.5%), Jobless Claims (E: 214K), Philly Fed (E: -8.0) and the Housing Market Index (E: 46). As has been the case, data that meets or slightly misses expectations is the “best” case for markets (while very strong data will boost yields and pressure stocks).
On earnings, the Q4 reporting season is just starting to ramp up and some important results we’re watching today include BAC ($0.77), MS ($1.65), UNH ($6.71), JBHT ($1.63).
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