“The best-performing Q4 sectors are leading to the downside today, and that implies some short-term selling and people positioning before year-end. The market was very overbought at the end of last week. Nothing really…” said Tom Essaye, founder of the Sevens Report.
What’s in Today’s Report:
Futures are modestly higher yet again following another quiet night of news as the melt-up continues into year-end.
Chinese Industrial Profits rose 5.4% in November, the first gain in three months, and this headline is mostly responsible for the gain in futures this morning.
Other economic data was mixed, as Japanese Industrial Production (-0.9% vs. (E) -1.4%) and Unemployment (2.2% vs. (E) 2.4%) beat estimates, while Retail Sales slightly missed (-2.1% vs. (E) -1.7%).
Today there are no notable economic reports nor any Fed speakers, and if should be a generally quiet day.
“Stocks are grinding relentlessly higher into year-end on continued momentum from the positive resolution of four key events: A phase one trade deal…” Tom Essaye, founder of Sevens Report, said Monday. Click here to read the full article.
“Stocks are grinding relentlessly higher into year-end on continued momentum from the positive resolution of four key events: A phase one trade deal, a dovish Fed…” Tom Essaye, founder of Sevens Report, said Monday. Click here to read the full article.
“Stocks are grinding relentlessly higher into year-end on continued momentum from the positive resolution of four key events: A phase one trade deal…” says Sevens Report founder Tom Essaye. Click here to read the full article.
Shares of the beleaguered aviation company make up 20% of the iShares U.S. Aerospace & Defense ETF ITA, -0.11%, pointed out Tom Essaye, president of the Sevens Report, in a research note out Tuesday. The exchange-traded fund has gained 31% in the year to date, even though Boeing shares are up less than 5%.
And Essaye thinks there’s room for Boeing to gain altitude. “I’m not a Boeing analyst,” he cautions, but lays out a strong case for upside. The decision to halt production on the 737 may have been negative…Click here to read the full article.
“Stocks are grinding relentlessly higher into year-end on continued momentum from the positive resolution of four key events: A phase one trade deal…” Tom Essaye, the founder of Sevens Report, said in a note. Click here to read the full article.
What’s in Today’s Report:
Futures are marginally higher following a good report on retail sales by Mastercard. Trading is quiet, however, as most of Europe, Hong Kong and Australia are closed for Boxing Day.
Mastercard (MA) posted preliminary estimates for 2019 holiday spending and they appear stronger than expectations, and that’s helping send futures higher.
There was no “Christmas surprise” from North Korea although a missile launch is still expected in the coming days (but even if it happens, it shouldn’t impact markets much).
The only notable number out today is Jobless Claims (E: 223K), and we’ll want to see the continued unwind of the Thanksgiving spike higher in claims that occurred two weeks ago.
“Stocks are grinding relentlessly higher into year-end on continued momentum from the positive resolution of four key events: A phase one trade deal, a dovish Fed…” Tom Essaye, founder of Sevens Report, said in a note on Monday.
What’s in Today’s Report:
U.S. stock futures are marginally higher this morning while international markets were little changed overnight as news wires were very quiet and attendance is notably thin ahead of the Christmas holiday.
There were no economic reports overnight and no market-moving headlines have crossed since yesterday’s close.
Looking into today’s holiday-shortened session (the NYSE will close at 1:00 p.m. ET), there are no notable economic releases and no Fed officials are scheduled to speak.
The only potential market catalyst on the calendar is a 5-Yr Note Auction by the Treasury at 10:00 a.m. ET. Any significant moves in the belly of the yield curve could affect stocks today as computer trading will dominate the price action due to the low attendance ahead of Christmas.