Tom Essaye Quoted In The Money Show

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SPX: The Underappreciated Force Behind Market Resilience

A key (and largely underappreciated) factor behind recent stock market resilience, with the S&P 500 Inex (^SPX) reversing from early losses to record highs late last week, was a meaningful shift in Federal Reserve sentiment, writes Tom Essaye, president of the Sevens Report.

As the CME’s FedWatch tool shows, rate hike odds between now and the end of 2026 have reversed sharply to two-week lows – fading below 50% after being as high as 70% the week before.

That is noteworthy in the context of last week’s Goldilocks PCE data and lower-revised Q1 GDP growth. The data reduced the threats of runaway inflation and a run-hot economy.

Those were two simmering risks behind May’s Treasury yield breakout, including the 30-Year Treasury Bond yield hitting its highest level since 2007. With the 30-year now 20 bps below its mid-May peak, accelerating inflation and run-hot economy risks are being priced out. Plus, Fed policy expectations have shifted from a market headwind to a market-neutral/market-positive influence on risk assets.

In the sessions ahead, it will be important to see rate hike odds and Treasury yields continue to fade, as those fixed income dynamics are acting as a meaningful new tailwind for stocks.

Also, click here to view the full article on Moneyshow.com published on June 1st, 2026. However, to see the Sevens Report’s full comments on the current market environment sign up here.

If you want research that comes with no long term commitment, yet provides independent, value added, plain English analysis of complex macro topics, then begin your Sevens Report subscription today by clicking here.

To strengthen your market knowledge take a free trial of The Sevens Report.

Join hundreds of advisors from huge brokerage firms like Morgan Stanley, Merrill Lynch, Wells Fargo Advisors, Raymond James, and more! To start your quarterly subscription and see how The Sevens Report can help you grow your business, click here.

What Is Tokenmaxxing? (And Why Does It Matter to You?)

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What’s in Today’s Report:

  • What Is Tokenmaxxing and Why Does It Matter to You?
  • ISM Manufacturing PMI Takeaways

Futures are slightly lower as a wave of broad market profit taking is being partially offset by a bid in the tech sector after NVDA’s CEO, Jensen Huang, said MRVL (+25%) could be the next $1T company overnight, stoking a fresh sense of AI-enthusiasm.

Economically, the Eurozone’s May HICP Flash rose 3.2% vs. (E) 3.3% Y/Y with the Narrow-Core rising to 2.5% vs. (E) 2.4% Y/Y.

Today, there are two domestic economic reports to watch with JOLTS (E: 6.815 million) being the key number to watch followed by Motor Vehicle Sales (E: 16.0 million).

Additionally, there is one Fed official scheduled to speak this morning: Hammack (8:30 a.m. ET) and the Treasury will hold a 6-Week Treasury Bill auction at 11:30 a.m. ET, both of which could move bond yields and influence equity markets (the lower yields go, the better for stocks).

Finally, some late season earnings to watch today including DG ($1.89), VSCO ($0.29), PANW ($0.43), GTLB (-$0.06), and ULTA ($6.91); the stronger the results, the better for the bullish equity narrative.

 

Tom Essaye Quoted In NDTV On May 27th, 2026

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Wall Street Highlights: S&P 500, Nasdaq Hit Record Close On AI Rally, Optimism Over Iran Deal

“Don’t expect an agreement to immediately send the S&P 500 running to 8,000,” wrote Tom Essaye, founder of the Sevens Report. Still, he said the end of the war would allow investors to focus on strong earnings growth, which will “increase the rally potential for the market.”

Also, click here to view the full article published in NDTV on May 27th, 2026. However, to see the Sevens Report’s full comments on the current market environment sign up here.

If you want research that comes with no long term commitment, yet provides independent, value added, plain English analysis of complex macro topics, then begin your Sevens Report subscription today by clicking here.

To strengthen your market knowledge take a free trial of The Sevens Report.

Join hundreds of advisors from huge brokerage firms like Morgan Stanley, Merrill Lynch, Wells Fargo Advisors, Raymond James, and more! To start your quarterly subscription and see how The Sevens Report can help you grow your business, click here.

Why Do Stocks Keep Rising? (Biggest Reason)

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What’s in Today’s Report:

  • Why Do Stocks Keep Rising? (Biggest Reason)
  • Weekly Market Preview: Do tech earnings and economic growth stay strong?
  • Weekly Economic Cheat Sheet: A Busy Week Highlighted by Friday’s Jobs Report

Futures are modestly higher despite no U.S./Iran ceasefire and as AI Enthusiasm continues to support stocks.

There was no additional progress on a U.S./Iran agreement and the two sides again exchanged limited strikes but markets still expect a ceasefire agreement in the coming days.

Nvidia unveiled a new AI processor designed specifically for Windows and that is boosting tech and futures.

This week is a busy and potentially important one from an economic standpoint and it starts today with the ISM Manufacturing PMI (E: 53.3). Markets will want to see a Goldilocks reading of better than expected headline activity and tame price indices (the opposite would be stagflationary and negative for markets). We also get one Fed speaker today, Waller (8:30 a.m. ET), but he shouldn’t move markets.

Notable tech earnings continue this week including today:   SAIC ($2.26), HPE ($0.44).

 

Strong Earnings Should Remain A Tailwind For The Market Says Tom Essaye

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Stocks Wobble as S&P 500, Nasdaq Pull Back From Records

“Barring any noteworthy disappointments, particularly from the tech companies reporting, a strong earnings season should remain a tailwind for market into the end of the month,” writes Sevens Report Research’s Tom Essaye.

Also, click here to view the full article published in Barron’s on May 27th, 2026. However, to see the Sevens Report’s full comments on the current market environment sign up here.

If you want research that comes with no long term commitment, yet provides independent, value added, plain English analysis of complex macro topics, then begin your Sevens Report subscription today by clicking here.

To strengthen your market knowledge take a free trial of The Sevens Report.

Join hundreds of advisors from huge brokerage firms like Morgan Stanley, Merrill Lynch, Wells Fargo Advisors, Raymond James, and more! To start your quarterly subscription and see how The Sevens Report can help you grow your business, click here.

New Market Tailwind: Falling Rate Hike Fears

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What’s in Today’s Report:

  • New Market Tailwind:  Falling Rate Hike Fears

Futures are slightly higher as markets await confirmation of a U.S./Iran ceasefire agreement while tech earnings continued to be very, very strong.

There was no update on the U.S./Iran ceasefire agreement overnight but numerous reports state a deal has been struck and is awaiting President Trump’s approval.

On earnings, DELL is the latest AI linked tech company to post blow out results and the stock is up 35% pre-open.

Today focus will remain on geopolitics and specifically confirmation from Trump of the ceasefire agreement.  The deal is mostly priced into markets so confirmation shouldn’t cause a big rally, although if the deal is rejected it will be a modest negative.

Away from geopolitics, the only key economic report today is the Chicago PMI (E: 51.2) and barring a major surprise it shouldn’t move markets.  There are numerous Fed speakers, however, including Bowman (9:10 a.m. ET), Paulson (9:15 a.m. ET) and Daly (12:40 p.m. ET) and if they are hawkish it could put a mild headwind on stocks.

 

We’re Not Seeing The Type of P/E Surge You’d Expect Says Sevens Report Analysts

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Notably, this is just what we saw with semiconductors starting three years ago, Sevens Report Analysts.

The ‘Insatiable’ Logic Behind Micron’s ‘Extreme’ Gains

“We’re not seeing the type of P/E surge you’d expect given the rallies, because earnings are rising faster than the share prices (notably, this is just what we saw with semiconductors starting three years ago),” wrote analysts at Sevens Report in a research note.

“While the gains have been extreme in the near term, the reality is they are being fueled by insatiable demand that likely won’t end unless the hyperscalers abandon the AI data center buildout (and that’s not likely to happen in the next 12-18 months),” wrote the Sevens Report analysts.

Also, click here to view the full article published in Barron’s on May 27th, 2026. However, to see the Sevens Report’s full comments on the current market environment sign up here.

If you want research that comes with no long term commitment, yet provides independent, value added, plain English analysis of complex macro topics, then begin your Sevens Report subscription today by clicking here.

To strengthen your market knowledge take a free trial of The Sevens Report.

Join hundreds of advisors from huge brokerage firms like Morgan Stanley, Merrill Lynch, Wells Fargo Advisors, Raymond James, and more! To start your quarterly subscription and see how The Sevens Report can help you grow your business, click here.

The Canary in the Coal Mine for Memory

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What’s in Today’s Report:

  • The Canary in the Coal Mine for Memory
  • Advisor Advantage: 12 Ways to Save Money on Gas This Summer (Client Material)

Futures are slightly lower following tit-for-tat missile/drone strikes between the U.S. and Iran.

The U.S. and Iran traded limited missile/drone attacks although the moves were “defensive” and ceasefire expectations remain intact.

Barring a ceasefire agreement or major escalation between the U.S. and Iran, the focus today will be on economic data and the key reports are, in order of importance: Core PCE Price Index (E: 0.3% m/m, 3.3% y/y), Durable Goods (E: 2.8%), Jobless Claims (E: 213K), Q1 GDP (E: 2.1%),  New Home Sales (E: 662K).  For these economic releases the key is solid activity and stable prices, as that will push back on stagflation concerns.

Today also brings numerous Fed speakers including Williams (8:55 a.m.), Musalem (10:15 a.m.) and Barkin (3:00 p.m.).  Of the three, Williams is the most important because he’s part of Fed leadership and if he hints at an openness to rate hikes it will be a headwind on stocks.

Finally, on the earnings front, the key report today will be DELL ($2.79) because it pertains to AI but two notable consumer reports are BBY ($1.22) and COST ($4.91).  For these earnings the stronger, the better for markets.

 

Alpha Report: The AI Trade Is Evolving Beyond Chips and Mega-Cap Tech

The AI trade is no longer just about semiconductors and the “Magnificent Seven.” In this week’s Alpha Report, we examine how AI spending is beginning to ripple through other parts of the economy and market, creating potential opportunities beyond the obvious names that have already surged.

Specifically, we break down where AI-related capital spending is flowing next, which sectors and industries may quietly benefit from the second-order effects of the buildout, and how investors can think about positioning if the AI trade broadens from here.

The report is designed to help you move beyond the headlines and better explain to clients where the next phase of the AI investment cycle may emerge.

👉 Access the full report and analysis here: Sevens Report Alpha

The “Memory Wall” and Why It’s Driving the Latest AI-Rally

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What’s in Today’s Report:

  • The “Memory Wall” and Why It’s Caused the Latest AI-Driven Rally

Futures are higher with tech and small caps leading as oil and yields retreat amid firming optimism for a U.S.-Iran ceasefire deal after an otherwise quiet night of news.

Economically, Chinese Industrial Profits rose 2.7% to 18.2% in April, the fastest pace since November of 2023 with “Computing/Electronics” profits more than doubling Y/Y helping bolster AI-enthusiasm.

Looking into today’s session, there is one “second-tiered” economic report: the Richmond Fed Manufacturing Index (E: 4.0) which is unlikely to materially impact markets (however “hot” price figures could rekindle inflation worries).

Additionally, there is a 5-Yr Treasury Note auction at 1:00 p.m. ET which could shed light on the sustainability of the recent rebound in bonds, so the stronger the demand, the better for fixed income markets and risk assets alike today.

There are also two Fed speakers, both late in the day with Cook scheduled to deliver remarks at 3:55 p.m. ET, and Jefferson on the calendar to speak after the close (8: 00 p.m. ET). Regarding the Fed speak, the less hawkish/more accommodative the tone, the better.

Finally, some late-season earnings will be released today with DKS ($2.87), PDD ($2.03), BNS ($1.46), CRM ($2.30), MRVL ($0.61), SNOW (-$0.59), HPQ ($0.72) all due to release Q1 results. Barring any noteworthy disappointments, particularly from the tech companies reporting, a strong earnings season should remain a tailwind for market into the end of the month.

 

Will a U.S.-Iran Peace Deal Be a Bullish Gamechanger?

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What’s in Today’s Report:

  • Will a U.S.-Iran Ceasefire Be a Bullish Catalyst?
  • Weekly Economic Outlook – All Eyes on U.S. Inflation Data

Stock futures are solidly higher this morning as oil trades well below $100/barrel and Treasury yields are retreating sharply amid ongoing peace deal hopes despite reports of U.S. missile strikes on Iranian targets over the weekend.

There were no market-moving economic reports overnight leaving focus on geopolitical tensions in the Middle East after the U.S. launched military strikes against Iranian targets over the weekend. The strikes were referred to as “defensive” in nature by U.S. military leadership, however, and President Trump made optimistic comments that a peace deal with Iran is close which is helping bolster “risk-on/war-off” money flows in pre-market trade.

Today, there are a handful of economic reports to watch in the U.S. including the Case-Shiller Home Price Index (E: 1.0%), the FHFA House Price Index (E: 1.7%), and most importantly Consumer Confidence (E: 91.6) due out shortly after the bell.

There are no Fed officials scheduled to speak today however there is a 2-Yr Treasury Note auction at 1:00 p.m. ET that will offer an important read on bond market sentiment after the long weekend (the stronger the demand the better for stocks).

Finally, earnings season continues today with quarterly reports due out from AZO ($36.09), ZS ($1.01), and SQM ($1.78).