What Can Stabilize Tech? Three Events to Watch

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What’s in Today’s Report:

  • What Can Stabilize Tech? Three Events to Watch
  • Weekly Market Preview: AI Still in Focus (CRWV Earnings and Anthropic IPO Progress)
  • Weekly Economic Cheat Sheet: Inflation in Focus (CPI Tomorrow the Key Report)

Futures are higher as oil prices dropped on comments from President Trump that further reduced expectations for a resumption of attacks on Iran.

Oil prices are down 3% on Trump comments to CNN that he’s “very unlikely” to resume large scale attacks on Iran.

The AI/tech sector got more dramatic over the weekend as NVDA CEO Jensen Huang admitted to having an affair with an apparent Chinese spy. NVDA is down 5% pre-market although the rest of tech is holding up, so far.

Today all eyes will remain on the tech sector/AI names for signs of continued stabilization. Away from tech, economically this week is focused on inflation and that starts today with the New York Fed 1-Year Inflation Expectations (E: 3.9%) and the lower they are, the better.

Turning to the Fed, there are three speakers today: Goolsbee (10:00 a.m. ET), Bowman & Barkin (12:15 p.m. ET) but they shouldn’t move markets.

 

Why Did Stocks Drop?

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What’s in Today’s Report:

  • Why Did Stocks Drop?

Futures are mixed as AI-related stocks attempt to rebound following Thursday’s market selloff.

Economically, EU Retail Sales missed estimates (-0.7% vs. E: -0.1%), while German Industrial Production beat estimates (0.7% vs. E: 0.0%).

Today focus will be on the October Employment Situation Report (E: 62K job adds, 4.2% unemployment rate, 2.9% wage growth), with investors looking for signs of labor market stabilization and easing wage pressures. We also get Consumer Sentiment (E: 47.5) and Consumer Credit (E: $11.5B).

Finally, two Fed members are speaking today: Musalem (9:10 a.m. ET) and Bowman (12:15 p.m. ET). Earnings include BRK.B ($5.91), ENB ($0.36), MRNA ($-1.10), HUM ($-1.03), VST ($2.89), ECHO ($0.02).

 

Jobs Report Preview

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What’s in Today’s Report:

  • Jobs Report Preview

Futures are mixed as continued weakness in chip and AI-related stocks offsets Wednesday’s post-election rally.

Oil prices are rebounding amid rising uncertainty surrounding the war with Iran.

Today focus will be on Jobless Claims (E: 196K) and Productivity & Costs (E: 3.0%, 1.1%). These will provide another look at labor-market conditions and wage pressures ahead of Friday’s jobs report.

Finally, we have 4- & 8-Week Treasury bill auctions at 11:30 a.m. ET, while Fed speakers include Hammack (8:50 a.m. ET), Barkin (9:10 a.m. ET), and Logan (7:00 p.m. ET). Earnings today include COP ($3.06), SONY ($0.38), MNST ($0.30), ABNB ($2.86), and DUK ($1.87).

 

Alpha Webinar Today at 1:30 p.m. ET: Is AI’s Pullback a Warning or a Buying Opportunity?

The latest earnings season sparked renewed concerns about AI spending, data center profitability and the availability of financing, helping push the Nasdaq more than 10% below its highs.

But is this simply a case of lofty expectations catching up with reality, or are we seeing signs of a more serious problem?

That’s what I’ll examine in today’s live Sevens Report Alpha webinar at 1:30 p.m. ET.

I’ll review the latest AI earnings, assess funding conditions and identify the upcoming events that could either deepen the selloff or create another buying opportunity.

Subscribers will also receive the full slide deck and recording, which can be used immediately in client conversations.

Click here to learn more about today’s Alpha webinar and how to attend.

What the Election Results Mean for Markets

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What’s in Today’s Report:

  • What the Election Results Mean for Markets

Futures are sharply higher as Democrats met pre-election expectations and won solid majorities in the House and Senate.

“Blue Wave” predictions were realized on Election Night, although Democrats failed to win 2/3 majorities in either chamber, creating a divided government and likely policy gridlock (which is historically positive for markets and the reason futures are higher).

With the election behind markets, focus will return to geopolitics (more U.S./Iran diplomatic progress?) and economic data and there are two important reports today: ADP Employment Report (E: 70K), ISM Services PMI (E: 54.7).  Goldilocks readings that met expectations (including in the ISM Services Prices Index) will be the best case scenario for stocks.

Finally, earnings season continues a few more days (practically speaking) and some reports we’re watching today include: ARM ($0.22), MCD ($3.36), NVO ($0.81), QCOM ($1.46), UBER ($0.94), CVS ($1.62), and DDOG ($0.18).

 

Final Election Preview (Scenarios & Key Races to Watch)

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What’s in Today’s Report:

  • Final Election Preview (Scenarios & Key Reaces to Watch)

Futures are slightly lower on a rebound in oil and following more disappointing tech earnings.

The U.S. struck Iran’s Qeshm Island overnight in a “small, defensive” attack and oil prices are up 2% as a result, although the operation hasn’t derailed current diplomatic progress.

On earnings, AAPL (-3% pre-open) and PLTR (-8% pre-open) both had underwhelming results, extending tech weakness (the key remains whether the “rest” of the market can hold up despite tech declines and so far, it has).

Today focus will remain primarily on geopolitics and any additional reports of progress between the U.S. and Iran will pressure oil and should further support stocks (especially the “rest” of the market).

Away from geopolitics, we do get one notable economic report, JOLTS (E: 7.134 million) and the closer to the consensus estimate, the better.

Finally, earnings season continues and that includes more important tech results.  Reports we’re watching today include AMD ($1.68), AMGN ($5.74), SHOP ($0.33), PFE ($0.72), MPC ($25.74), BKNG ($4.48).

 

Why Anthropic’s IPO May Be the Most Important Market Event Left in 2026

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What’s in Today’s Report:

  • Why Anthropic’s IPO May Be the Most Important Market Event Left in 2026
  • Weekly Market Preview: Geopolitics and Economic Data Take Focus from Earnings
  • Weekly Economic Cheat Sheet: Jobs Report Friday the Key Report

Futures are sharply higher on tumbling oil prices on reports of diplomatic progress between the U.S. and Iran.

Brent crude dropped more than 4% and WTI crude fell below $100/bbl. on diplomatic progress made by Qatari mediators over the weekend and that is boosting futures.

Economically, EU and UK October Manufacturing PMIs met expectations (52.7 & 52.8 respectively).

Today geopolitics will be the primary driver of markets and investors will want to see confirmation of the diplomatic “progress” from the weekend to push oil prices even lower.

Beyond geopolitics, we do get the first of the “Big Three” monthly economic reports via the ISM Manufacturing PMI (E: 54.5) but just as important is the ISM Manufacturing Prices (E: 77.2).  A Goldilocks report of solid activity and lower prices will be positive for markets.  Additionally, there is one Fed speaker: Goolsbee 11:15 a.m. ET.

On earnings, we do get more important tech results today including AAPL ($1.98), PLTR ($0.33) as well as MAR ($2.87), O ($1.11), EL ($0.52).

 

A Contrarian Opportunity To Consider: Latin American Equities

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What’s in Today’s Report:

  • A Contrarian Opportunity To Consider: Latin American Equities

Futures are sharply lower as Intel and Amazon earnings deepen concerns about AI spending and profitability, extending this week’s tech selloff.

Oil prices are surging as renewed Houthi attacks on Saudi oil infrastructure raise concerns about further Middle East supply disruptions.

Today’s focus will be on the Chicago PMI (E: 56.0) and the Employment Cost Index (E: 0.8%), which will help assess business activity, wage pressures, and the inflation outlook.

Finally, we have two scheduled Fed speakers, Daly (12:00 p.m. ET) and Musalem (12:30 p.m. ET), and earnings from XOM ($3.90), ABBV ($3.74), CVX ($4.78), AZN ($2.60), CL ($0.92), D ($1.20).

 

What the Fed Decision Means for Markets

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What’s in Today’s Report:

  • What the Fed Decision Means for Markets
  • Two Fed Issues to Watch Going Forward

Futures are lower, led by the Nasdaq, as Alphabet’s disappointing results renew concerns about AI spending and profitability.

Geopolitically, oil prices eased slightly on hopes for renewed U.S.-Iran peace talks, despite the IRGC’s claim that three tankers struck naval mines in the Strait of Hormuz.

Today focus will be on Jobless Claims (E: 198K), Core PCE Price Index (E: 0.3% m/m, 3.1% y/y) and Advanced Q3 GDP (E: 3.1%). Markets will need to see tame inflation to ease pressure on Treasury yields.

Finally, the Treasury will hold a 4-Week and 8-Week Bill auction at 11:30 a.m. ET and a 7-Yr Note auction at 1:00 p.m. ET. There are no Fed speakers scheduled. Notable earnings include AMZN ($2.01), LLY ($5.38), MA ($5.14), INTC ($0.28), CAT ($7.12), and SHEL ($3.54).

 

Sevens Report Technicals: Mag 7: What to Watch After Earnings

The Mag 7 have been under pressure recently, and with several major earnings reports this week, investors are facing some important questions.

In Monday’s Sevens Report Technicals, we examined all seven stocks individually, identifying which are showing technical strength, which are vulnerable, and the key price levels that could determine what happens next.

We also examined an important development beyond Big Tech: While the major indexes have struggled, buying interest in other areas of the market has been improving. Is this the beginning of a broader shift in market leadership?

Our latest Technicals issue provides the charts, analysis, and specific conclusions to help you navigate these developments.

See What I’m Watching in This Week’s Technicals Report »

 

How to Get Pre-IPO to Anthropic, Open AI & Others

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What’s in Today’s Report:

  • How to Get Pre-IPO to Anthropic, OpenAI & Others

Futures are slightly higher following a mixed night of earnings as investors look ahead to today’s Fed decision and hyperscaler earnings.

Tech earnings were mixed as memory company SK hynix (SKHY up 8% pre-open) beat while Seagate (STX down 1% pre-open) slightly underwhelmed. But, none of the results were good or bad enough to dramatically move futures.

There are four potentially market moving events today starting with the FOMC Decision (E: No change to rates) and Fed Chair Press Conference (2:30 p.m. ET). Put simply, the Fed needs to not be more hawkish than expected (so not signal an acceleration in rate hikes) otherwise the hawkish surprise will hit markets.

The third and fourth events come after the close via earnings results from hyperscalers GOOGL ($2.94) and MSFT ($4.71).  Markets will want to see strong capex (to fuel the AI data center boom) but also evidence that all this compute investment is producing its own revenue.  Those are the keys from the reports for the market.

Beyond those four events, there are additional earnings reports today and some results we’re watching include:  GEV ($4.03), NOW ($0.56), TMUS ($2.86), UBS ($0.91).

 

FOMC Preview: All About December (and Beyond)

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What’s in Today’s Report:

  • FOMC Preview: All About December (and Beyond)

Futures are little changed following a quiet night of news as investors focus on the looming potential catalysts of tomorrow’s Fed meeting and hyperscaler earnings.

Economically, the only notable report overnight was Chinese Industrial Profits which met expectations (15.5%).

There was no notable AI or geopolitical news overnight.

Today focus will be on economic data and the key report is Durable Goods (E: 1.4%), as markets will want to see continued strong business investment (which is critical to the resilient economy).  We also get a lot of housing data via Case-Shiller Home Price Index (E: -0.1%), FHFA House Price Index (E: 0.2%) and New Home Sales (E: 651K).  Finally, Consumer Confidence (E: 80.4) will also be released this morning.  With the housing and Consumer Confidence data, the stronger, the better.

Earnings season also continues and the key report today is Visa (V: $3.43) as markets will want to see strong commentary on consumer spending.  Other notable reports include KO ($0.87), NVS ($2.25), BA ($-0.21) and WM ($2.18).