Any surprises could move yields and impact equities

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Any surprises could move yields and impact equities: Tom Essaye Quoted in Barron’s

The Market Kicks Off the Day in the Green

“There are no Fed officials scheduled to speak today but there is a 5-Yr Treasury Note auction at 1:00 p.m. ET,” wrote Sevens Report Research’s Tom Essaye. “With the elevated level of market anxiety surrounding Friday’s Core PCE release (when markets will be closed) any surprises via strong or weak demand in the auction could move yields and impact equities.”

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

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Tom Essaye interviewed by Barron’s

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 Durable-goods number showed stable growth: Tom Essaye Interviewed by Barron’s

Market’s Spirit Isn’t Dampened by Mixed Economic Data

In an interview with Barron’s, Tom Essaye of Sevens Report Research said the durable-goods number showed stable growth while the consumer confidence reading was light.

“Every time the market is reminded that we’ve got stable growth, still falling inflation, a looming rate cut —which was reinforced last week—and positive AI headlines, the default reaction is to rally. And rightly so. And that’s exactly what’s happening today,” he said.

Essaye also called the collapse of Baltimore’s Francis Scott Key Bridge a “tremendous tragedy”and thinks the disaster could trickle into economic reports at a time when the Federal Reserve is watching all numbers closely.

“This is going to cloud some of the economic data, potentially, which has some risk associated with it because the data is really important right now,” Essaye said. “It will probably send some noisiness into the data. We’re just going to have to look through that as best we can over the next couple of months. That’s something to pay attention to.”

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

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Sevens Report Technical Analyst Tyler Richey Laid Out The Case For A Looming Pullback For Bitcoin

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A Looming Pullback For Bitcoin: Strengthen your market knowledge with a free trial of The Sevens Report.

Bitcoin Tops $70,000—But Is This Rebound Here To Stay?

Sevens Report technical analyst Tyler Richey laid out the case for a looming pullback for bitcoin as its relative strength index, a tool commonly used by technical strategists to measure the sustainability of a sharp rally or selloff, sits at its lowest level since early February, indicating a potentially “frothy and overextended” market for bitcoin.

Such technical analysis can be “hit-or-miss” for crypto assets, Richey added, considering crypto prices can behave far more erratically than those of other asset classes like stocks and physical commodities, but declining technical backing coupled with elevated prices “should not be sustainable forever,” suggesting $52,000 as a potential first true spot of resistance for bitcoin based on historical data, a backstop nearly 30% below bitcoin’s Monday price.

Also, click here to view the full Forbes article published on March 25th, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up here.

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Data from the EIA was largely bullish

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Data from the EIA was largely bullish: Sevens Report Co-Editor, Tyler Richey, Quoted in MarketWatch

Oil futures edge lower early Thursday

“Yesterday’s weekly inventory data from the EIA was largely bullish but the futures market had become overbought and there was a knee-jerk selloff in the immediate wake of the release as short-term traders booked profits on the latest breakout to new 2024 highs,” analysts at Sevens Report Research wrote in a note.

Also, click here to view the full MarketWatch article published on March 21st, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up here.

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Growth is holding up, and that’s the key

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Growth is holding up, and that’s the key: Tom Essaye Quoted in Barron’s

S&P 500 Marks Record Close. Tech Stocks Rebound.

Sevens Report Research’s Tom Essaye told Barron’s that markets can rally higher on developments in the artificial intelligence world and signs of continued economic growth, even in the face of diminished hopes for imminent rate cuts.

“Growth is holding up, and that’s the key,” Essaye says. “It’s when growth begins to roll over that rate cuts really matter. And we’re not there yet. We’re getting hints of it. But we’re not there yet.”

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

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The major question for tomorrow’s meeting is what do the dots say?

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The major question for tomorrow’s meeting: two or three rate hikes? Tom Essaye Quoted in Barron’s

Dow Turns Higher. Tech Stocks Pull Back.

“I think what we’re seeing today is just a little bit of hedging by investors,” Sevens Report Research’s Essaye told Barron’s in a phone interview.

Essaye says that ahead of the Fed meeting, traders may be looking at defensive stocks on the chance that the Federal Open Market Committee’s March meeting sends stocks lower or pushes yields lower.

“The major question for tomorrow’s meeting is what do the dots say: two or three rate hikes?” Essaye says. “That’s really gonna determine how the market reacts to this meeting.”

“AI enthusiasm has been a major factor in this rally, and as long as nothing else is particularly negative, AI enthusiasm can continue to push markets higher,” Essaye says. “That’s what happened yesterday. Today, we don’t have that sort of new shiny object in AI to focus on, and we have the Fed decision tomorrow.”

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

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The March FOMC meeting begins today

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The March FOMC meeting begins today: Tom Essaye Quoted in Barron’s

Stocks Open Lower Ahead of Fed Meeting

The FOMC’s March meeting kicks off on Tuesday. While a rate cut has been ruled out by traders, they will pay close attention to Federal Reserve Chair Jerome Powell’s press conference on Wednesday.

“The March FOMC meeting begins today and barring any material ‘tape bombs’ the markets should fall into a familiar positioning churn ahead of tomorrow’s policy announcement and Powell’s press conference,” writes Sevens Report Research’s Tom Essaye.

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

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The key is growth, it’s not rate cuts

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The key is growth, it’s not rate cuts: Tom Essaye Quoted in Barron’s

S&P 500 Edges Higher. Tech Still Lags.

Stocks have been holding up in recent weeks even though expectations for a rate cut sooner rather than later have dipped.

“The key is growth, it’s not rate cuts,” Sevens Report Research’s Tom Essaye told Barron’s. “As long as growth is stable, the markets can tolerate fewer rate cuts—up to a certain point.”

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

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Easing growth concerns surrounding the world’s second largest economy

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Easing growth concerns surrounding the world’s second largest economy: Tom Essaye Quoted in Barron’s

Asian Stocks Gain Amid Positive Chinese Data, Bank of Japan Expectations

“Chinese retail sales rose 5.5% [versus expectations of 5.2%] and industrial output jumped 7% [versus expectations of 5%] to start 2024, easing some growth concerns surrounding the world’s second largest economy, however property sector woes persist,” said Tom Essaye, the founder of Sevens Report Research.

Also, click here to view the full Barron’s article published on March 18th, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up here.

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Economic data this week has not been positive for stocks

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Economic data this week has not been positive for stocks: Tom Essaye Quoted in Blockworks

Bitcoin holds below $70k on disappointing inflation reads this week

“Economic data this week has not been positive for stocks and while it hasn’t invalidated any of that bullish mantra, it has weakened it,” Tom Essaye, founder of Sevens Report Research, said. 

Also, click here to view the full Blockwork article published on March 15th, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up here.

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