Today’s moves are being driven by the tech earnings

/in , , /by

Today’s moves are being driven by the tech earnings: Sevens Report Editor, Tom Essaye, Quoted in Barron’s

Stocks Rally as Strong Tech Results Ease Anxiety

“Most of today’s moves are being driven by the tech earnings, which is helping ease the anxiety from Thursday’s results,” Sevens Report Research’s Tom Essaye told Barron’s.

Also, click here to view the full Barron’s article published on April 26th, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up here.

It’ll be Very Hard for This Market to RallyIf 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.

There is certainly still a geopolitical fear bid in oil markets

/in , , /by

There is certainly still a geopolitical fear bid in oil markets: Sevens Report Co-Editor, Tyler Richey, Quoted in Morningstar

Oil prices score weekly gain, breaking run of back-to-back weekly losses

“There is certainly still a geopolitical fear bid in oil markets here with [West Texas Intermediate crude] prices in the low $80s,” Tyler Richey, co-editor at Sevens Report Research, told MarketWatch. “Geopolitical worries have eased from their most tense levels seen earlier in April as the escalation in the Middle East between Israel and Iran has receded back to a still unsettling, but notably more stable level.”

Without the simmering geopolitical worries, WTI would likely be in the low-to-mid $70-a-barrel range, “at best,” as consumer demand for gasoline has been sliding in recent weeks, while OPEC+ has made no changes to output policy in some time, he said.

Also, click here to view the full MarketWatch article published on Morningstar on April 26th, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up here.

Oil Inventories

Lastly, 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.

Gasoline supplied, dropped to the lowest level since mid-February

/in , , /by

Gasoline supplied, dropped to the lowest level since mid-February: Sevens Report Co-Editor, Tyler Richey, Quoted in Morningstar

Oil prices end lower on weak U.S. gasoline demand

The most notable takeaway from the Energy Information Administration report Wednesday was the weekly implied measure of consumer demand for fuel at the pump, gasoline supplied, which dropped to the lowest level since mid-February, said Tyler Richey, co-editor at Sevens Report Research.

That indicated a “steady and relatively quick pullback” in domestic fuel consumption in recent weeks,” he told MarketWatch.

U.S. gasoline supplied for the week ended April 19 fell by 239,000 barrels a day to 8.4 million bpd.

And that was “not a ‘one-off’ either, as the 4-week moving average of the often volatile gasoline supplied data fell for a third consecutive week to the lowest reading since the week of March 8th,” said Richey. The EIA data showed the four-week average for gasoline supplied, as of last week, down 3.7 million bpd at 8.7 million bpd.

“Those disappointing implied consumer demand figures paired with the smaller than expected gasoline supply draw on the headline poured some cold water on the market…as worries of a persistently tight physical fuel market are beginning to subside,” said Richey.

Also, click here to view the full MarketWatch article published on Morningstar on April 24th, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up here.

Oil Inventories

Lastly, 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 stock-market selloff has removed some of its positive bias

/in , , /by

The stock-market selloff has removed some of its positive bias: Sevens Report Editor, Tom Essaye, Quoted in MarketWatch

Stock-market pessimism is climbing. Why it’s still not bad enough to imply stocks hit a bottom.

Tom Essaye, founder of Sevens Report Research, said the slump in bullish sentiment since November indicates the stock-market selloff has removed some of its positive bias, but that it also implies a return to a “normal” market sentiment.

“It isn’t yet created enough negativity that makes me more confident this pullback is over,” he wrote in a Tuesday client note.

Also, click here to view the full MarketWatch article published on April 24th, 2024. 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.

Yields fell and stocks rose following a soft S&P Global Flash U.S. Composite PMI

/in , , /by

Yields fell and stocks rose following a soft S&P Global Flash U.S. Composite PMI: Sevens Report Editor, Tom Essaye, Quoted in Barron’s

Stocks Wrap Up the Day in the Green

Sevens Report Research’s Tom Essaye told Barron’s that yields fell and stocks rose following a soft S&P Global Flash U.S. Composite PMI.

“It’s kind of a reverse of what we’ve seen in the last two and a half weeks,” Essaye said. “And I think this is something we can expect for the short term. As the market is nervous about higher yields, it’s going to welcome soft data, in so much as it thinks it’ll make the Fed less hawkish.”

Also, click here to view the full Barron’s article published on April 24th, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up here.

It’ll be Very Hard for This Market to RallyIf 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.

Today, we’re in a very, very classic ‘bad is good’ reaction to the Flash PMIs

/in , , /by

Today, we’re in a very, very classic ‘bad is good’ reaction to the Flash PMIs: Sevens Report Editor, Tom Essaye, Quoted in Barron’s

Weak Manufacturing Data Is Lifting the Stock Market, Sending Yields Lower

Sevens Report Research’s Tom Essaye told Barron’s that though upbeat earnings reports set a positive tone, the market was gaining after the S&P Global Flash U.S. Composite PMI came in lower than expectations. The US Manufacturing PMI fell to a four-month low of 49.9 in April from 51.9 in March.

“Today, we’re in a very, very classic ‘bad is good’ reaction to the Flash PMIs,” Essaye says. “So now you’re seeing yields off and stocks rebound—so kind of a reverse of what we’ve seen in the last two and a half weeks.”

Essaye says the latest earnings reports are helping, though he doesn’t believe it’s the reason stocks are up across the board.

“I don’t think earnings would cause this rally if the PMIs had been strong, or the price metrics were higher or anything like that,” he says. “But given the soft data, I think that earnings are adding fuel to the fire. And I think that’s a positive for markets.”

Also, click here to view the full Barron’s article published on April 24th, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up here.

It’ll be Very Hard for This Market to RallyIf 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.

Still “a simmering” geopolitical fear bid in the global oil market

/in , , /by

Still “a simmering” geopolitical fear bid in the global oil market: Sevens Report Founder, Tom Essaye, Quoted in Morningstar

Oil prices remain at more than 3-week low as Iranian crude supply concerns ease

Tom Essaye, founder of the Sevens Report Research, said there is still “a simmering” geopolitical fear bid in the global oil market which is keeping futures above the $80-a-barrel level, and that fear bid will remain in the market until there is some “more formal” ceasefire agreed upon in the Middle East.

Outside geopolitics, higher-for-longer policy rates are a risk to demand down the road, but for now most economic data remains robust and supports the case for futures to sustain prices above $80 in the near term, Essaye said in a Tuesday client note.

Also, click here to view the full MarketWatch article published on Morningstar on April 23rd, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up here.

Oil Inventories

Lastly, 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.

Tom Essaye Interviewed on Schwab Network

/in , , /by

American Express (AXP) rises after beating earnings: Tom Essaye Interviewed on Schwab Network

AXP Rises After Earnings: Best Positioned Credit Card Stocks

American Express (AXP) rises after beating earnings. The Sevens Report’s Tom Essaye and Morningstar’s Michael Miller discuss this as American Express’ 1Q revenue grew 11% year-over-year. They talk about the road ahead for American Express. They then go over the best positioned credit card stocks. Tune in to find out more about the stock market today.

Also, click here to view the full interview published on April 19th, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up 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.

It’s very early in the quarter, but it’s not off to a great start

/in , , /by

It’s very early in the quarter, but it’s not off to a great start: Sevens Report Editor, Tom Essaye, Quoted in Barron’s

S&P 500 Slides for Sixth Straight Day. Tech Stocks Are Struggling.

Sevens Report Research’s Tom Essaye told Barron’s that traders that have been worried about soaring tech valuations took the first wave of earnings reports as an opportunity to sell.

“It’s very early in the quarter, but it’s not off to a great start,” Essaye says. “And I think that it’s giving people an excuse to lighten up.”

Super Micro Computer shares also sank after investors wondered why the firm didn’t preannounce March quarter results as it has tended to do ahead of strong reports.

As for the broader market, Essaye thinks the S&P 500 was due for a pullback, and could fall further before valuations start looking attractive.

“The problem now is that news isn’t necessarily turning really bad, it’s forcing the market to realize that they were too aggressive in their positive expectations,” Essaye says. “And this is all being unwound.”

Also, click here to view the full Barron’s article published on April 19th, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up here.

It’ll be Very Hard for This Market to RallyIf 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.

As you see people reducing tech exposure, you’re getting the whole gamut being sold

/in , , /by

As you see people reducing tech exposure, you’re getting the whole gamut being sold: Sevens Report Editor, Tom Essaye, Quoted in Barron’s

Why the Dow and Nasdaq Are Going in Different Directions

Sevens Report Research’s Tom Essaye told Barron’s that earnings this week in the tech space haven’t been good. Netflix was the latest nail in the coffin ahead of major big tech players next week.

“As you see people reducing tech exposure, you’re getting the whole gamut being sold,” Essaye says. “And we know that’s really what’s happening, because the Dow is up on the day. And the S&P 500, if you were to pull tech out, wouldn’t be doing that bad.”

Also, click here to view the full Barron’s article published on April 19th, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up here.

It’ll be Very Hard for This Market to RallyIf 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.