This is an evolution a bit — Ark accepting it’s a large fund-family now, while the number of companies in which Ark holds more than…said Tom Essaye, a former Merrill Lynch trader who founded “The Sevens Report” newsletter. Click here to read the full article.
Considering the pace at which AAPL/AMZN/NFLX/GOOGL and MSFT are growing earnings and the long-term prospects for these companies, valuations are reasonable…writes Tom Essaye, founder of Sevens Report Research. Click here to read the full article.
U.S. stock futures are extending yesterday’s gains this morning as easing inflation concerns…writes Tom Essaye, founder of Sevens Report Research. Click here to read the full article.
The market is basically in a holding pattern until the next big event, which is the Fed’s tapering schedule (or not tapering schedule), until we have more…said Tom Essaye, founder of Sevens Report. Click here to read the full article.
What’s in Today’s Report:
Stock futures are trading modestly higher this morning while international markets are mixed as inflation and taper fears continue to ease ahead of key economic data due later in the week.
The only economic report overnight was the French Business Climate Indicator which came in at 107 vs. (E) 105 but the release did not materially move markets.
Today, there are no economic reports due to be released and just one Fed official is scheduled to speak: Quarles (10:00 a.m. and 3:00 p.m. ET).
There is a 5-Yr Treasury Note Auction at 1:00 p.m. ET and as has been the case for most of this year, any significant surprises in the results could move both stock and bond markets significantly, but that is less likely today given focus is on Friday’s inflation data.
Oil futures moved sharply higher on Monday, with U.S. prices posting their highest settlement in a week, buoyed by some doubts that an Iran nuclear deal will be reached anytime soon. A lack of cooperation by Iran, as well as “skeptical comments about Iranian compliance” by U.S. Secretary of State Antony Blinken, both “lower the odds that a new agreement is…” said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.
“The general optimism about the economic reopening process, especially in the U.S.,” buoyed all risk assets Monday, “especially oil and refined products as traders look ahead to the unofficial start of the summer driving…” said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.
What’s in Today’s Report:
U.S. stock futures are extending yesterday’s gains this morning as easing inflation concerns and more accommodative Fed chatter are fueling a rebound in tech shares.
The German Ifo Survey topped estimates overnight offering further evidence that the economic recovery is accelerating in the EU.
This morning, there are several housing market reports to watch: Case-Shiller Home Price Index (E: 1.3%), FHFA House Price Index (E: 0.9%), and New Home Sales (E: 957K), before May Consumer Confidence data (E: 119.0) is released shortly after the bell.
Additionally, there is a 2-Yr Treasury Note Auction at 1:00 p.m. ET that could impact Fed policy expectations (a weak auction could rekindle taper fears) and one Fed official is scheduled to speak: Quarles (10:00 a.m. ET).
Commodities are the basic input for global growth and contribute and correlate with inflation. Consequently, related ETFs would typically…explained Tom Essaye, a former Merrill Lynch trader who founded “The Sevens Report” newsletter. Click here to read the full article.
Until then, expect a more volatile market, but at this point, strong policy support for stocks remains very much in place, and that’s a good thing…according to Tom Essaye, a former Merrill Lynch trader who founded “The Sevens Report” newsletter. Click here to read the full article.
