“Bottom line for the Fed, if today’s events turn out to be net-hawkish, that will weigh on risk assets as investors remain overly optimistic about an aggressive easing cycle over the coming…” writes The Sevens Report’s Tom Essaye. Click here to read the full article.
The Sevens Report founder Tom Essaye said:
“The drama is centered on just how strongly the Fed will signal that it’s going to cut rates again by the end of 2019. It’ll be the ‘dots’ and statement that determine whether the Fed meets market expectations…” Click here to read the full article.
“The drama is centred on just how strongly the Fed will signal that it’s going to cut rates again by the end of 2019. It’ll be the ‘dots’ and statement that determine whether the Fed meets market expectations…” said Tom Essaye, founder of the Sevens Report in a note, as quoted by CNBC. Click here to read the full article.
“The drama is centered on just how strongly the Fed will signal that it’s going to cut rates again by the end of 2019…” Tom Essaye, founder of The Sevens Report, said in a note. Click here to read the full article.
Cramer’s comments echo that of the Stevens Report founder Tom Essaye’s, who said in a note that “the drama is centered on just how strongly the Fed will signal that it’s going to cut rates again by the end of 2019.” Click here to read the full article.
The consensus expects a 25 basis-point rate cut from the Fed today, but “the drama is centered on just how…” says Tom Essaye of The Sevens Report. Click here to read the full article.
“Going forward, the main driver of prices will be time, specifically how long the Saudi…” said Tom Essaye, founder of Sevens Report, said in a note on Tuesday. Click here to read the full article.
What’s in Today’s Report:
Futures are slightly lower as markets digest a “not as dovish as wanted” Fed decision after a generally quiet night.
The market’s reaction to the Fed meeting is one of mild disappointment as the FOMC did not guarantee more rate cuts, although they signaled they will come if needed.
Economic data was sparse overnight as British Retail Sales met expectations and that number’s not moving markets.
Today there are several notable economic reports, including (in order of importance): Philly Fed (E: 11.3), Jobless Claims (E: 214K), Existing Home Sales (E: 5.375M) and Leading Indicators (E: 0.1%). The Bank of England is also out with a rate decision this morning but no change is expected.
But, the most important event of the day is the start of the lower level U.S./China trade talks, and any positive “chatter” from these meetings should help stocks offset mild Fed disappointment.
What’s in Today’s Report:
Futures are suffering mild losses this morning while international markets were little changed overnight as oil prices are stabilizing, economic data was mixed, and investor focus is shifting to the Fed.
Economically, the German ZEW Survey showed the Current Conditions index fell to –19.9 vs. (E) -15.0 but the Business Expectations figure was encouragingly –22.5 vs. (E) -38.0, easing concerns about the future outlook for the EU economy.
The PBOC left rates unchanged overnight, disappointing some investors looking for a cut after a recent string of soft economic data which weighed on Asian markets.
Looking into today’s session, there are two economic reports to watch: Industrial Production (E: 0.1%) and the Housing Market Index (E: 66) but a sense of “Fed paralysis” is already falling over the markets as focus turns to tomorrow’s announcement and press conference.
Lastly, after oil’s huge moves yesterday, the energy complex will continue to get attention and with the geopolitical situation still very fluid, oil prices and U.S.-Iran tensions could affect trading in stocks today.
“The S&P 500 has now fully retraced the August pullback, and in doing so has priced in a lasting U.S.-China trade truce and aggressive [global] central bank easing…” wrote Tom Essaye, president of the Sevens Report in a Thursday note to clients. Click here to read the full article.
