My biggest concern for this market remains that we get an unexpected economic slowdown

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My biggest concern for this market remains that we get an unexpected economic slowdown: Sevens Report Editor, Tom Essaye, Quoted in Barron’s

The Stock Market Needs a Strong Economy to Keep Rising. The Data Are Getting Worse.

“My biggest concern for this market remains that we get an unexpected economic slowdown because that’s one of the few events that can legitimately cause a material correction in stocks,” writes Sevens Report founder Tom Essaye, noting that his worry ticked up last week due to corporate earnings.

However, Essaye warns, it doesn’t always work so neatly. “Twice in my career I have seen investors cheer a slowdown, and both times the Fed was not able to cut rates at the right time to prevent the slowing from becoming a broader economic contraction,” he wrote. “That doesn’t mean they can’t do it this time, but catching a falling knife doesn’t work in real life, it doesn’t work in stock trading, and I’ve never seen it work in monetary policy.”

Also, click here to view the full Barron’s article published on June 4th, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up here.

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A bearish-leaning reality that OPEC+

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A  bearish-leaning reality that OPEC+: Sevens Report co-editor Tyler Richey Quoted in MarketWatch

Oil futures settle at lowest since early February

The market’s bullish hopes for some degree of commitment to ‘price stability’ via the potential for further production cuts were dashed, and instead met with a bearish-leaning reality that OPEC+ does not seem willing to cut production any further than they already have despite ongoing recession risks that would cripple demand,” said Tyler Richey, co-editor at Sevens Report Research.

Also, click here to view the full MarketWatch article published on June 3rd, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up here.

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Traders will be keenly focused on the EIA data

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Traders will be keenly focused on the EIA data: Sevens Report Analysts Quoted in MarketWatch

Gasoline demand in focus as oil futures slip

Traders will be keenly focused on the EIA data, particularly its measure of implied gasoline demand, said analysts at Sevens Report Research, in a note.

The data “could either reinforce the thesis that U.S. demand for fuel at the pump is rebounding into the summer driving season, a trend in line with those from 2021 and 2023 that both matched annual trends of pre-Covid years when demand would peak in the summer, or if we are going to see demand destruction’ due to inflation and elevated prices at the pump like we did in 2022,” they wrote.

Also, click here to view the full MarketWatch article published on May 30th, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up here.

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The market just seems like it can’t find the middle

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The market just seems like it can’t find the middle: Sevens Report Editor, Tom Essaye, Quoted in Barron’s

The Stock Market Keeps Going Back and Forth on Interest Rates. How to Play It.

“The market just seems like it can’t find the middle,” Sevens Report Research’s Tom Essaye told Barron’s in a phone interview.

Essaye says he can make the case that the economy is slowing, or not, based on a wide swath of data that’s available. That’s why every individual release has so much sway on the market’s day-to-day. Stocks were mixed on Tuesday, aside from tech, after Minneapolis Fed President Neel Kashkari said the Federal Reserve hasn’t formally taken rate hikes off the table and is prepared to keep rates steady until inflation hits the central bank’s 2% target.

“This is the world we’re in for now, until economic data gives us a clear direction as to where we’re going,” Essaye says. “I think we just sort of have to brace ourselves for this kind of back and forth. I think the net result for investors is that there’s just going to be more elevated volatility.”

Also, click here to view the full Barron’s article published on May 28th, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up here.

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Investors still view ‘bad data as good for stocks’

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Investors still view ‘bad data as good for stocks’: Sevens Report Editor, Tom Essaye, Quoted in Barron’s

Nvidia Earnings Spark a Rally in Tech Stocks

“For now, investors still view ‘bad data as good for stocks’ as it makes rate cuts more likely so a small miss vs. expectations should extend the early rally,” writes Sevens Report Research’s Tom Essaye.

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

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Breadth matters because it basically speaks to investor conviction about fundamentals

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Breadth matters because it basically speaks to investor conviction about fundamentals: Sevens Report Editor, Tom Essaye, Quoted in Barron’s

The S&P 500 Is Suffering From Bad Breadth Again

“Breadth matters because it basically speaks to investor conviction about fundamentals,” Sevens Report Research’s Tom Essaye tells Barron’s. “The more sectors that are rallying, the stronger the perception of underlying fundamentals (a rising tide lifts all boats). If just one sector is carrying the market (poor breadth) it’s viewed as a vulnerable market because fundamentals aren’t that strong outside of the one sector.”

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

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Investors will need to see economic data that remains goldilocks

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Investors will need to see economic data that remains goldilocks: Tom Essaye Quoted in SwissInfo.ch

US Futures Steady as Nvidia Results Grab Spotlight: Markets Wrap

“With stocks sitting on record highs investors will need to see economic data that remains ‘goldilocks,’ the absence of any hawkish Fed surprises, steady yields, good retailer earnings, and solid guidance from AI bellwether Nvidia to meaningfully advance beyond current levels,”  Tom Essaye at the Sevens Report said in a note to clients.  

Also, click here to view the full article published on May 22nd, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up here.

Swissinfoch logo

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The key is whether the data warrants a hike

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The key is whether the data warrants a hike: Sevens Report Editor, Tom Essaye, Quoted in Barron’s

Fed Minutes Spooked the Stock Market. They Probably Shouldn’t Have.

“The key is whether the data warrants a hike and there’s virtually nothing in the day that implies a hike is needed,” Sevens Report Reserach’s Tom Essaye told Barron’s. “So, I think this is much ado about nothing.”

Also, click here to view the full Barron’s article published on May 22nd, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up here.

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Gasoline supplied was the most important figure in the release

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Gasoline supplied was the most important figure in the release: Tyler Richey, co-editor of Sevens Report Research, Quoted in MarketWatch

Oil futures trade lower as U.S. crude supplies unexpectedly rise

Gasoline supplied was “the most important figure in the release as it is a key, high-frequency proxy for consumer gasoline demand and ultimately consumer sentiment and a gauge on general willingness to spend discretionary money,” said Tyler Richey, co-editor at Sevens Report Research. The EIA reported that gasoline supplied surged by 439,000 barrels per day to 9.315 million bpd last week, a fresh year-to-date high and the highest reading since early November of last year, he said.

Also, click here to view the full MarketWatch article published on May 22nd, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up here.

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No relation to the recent geopolitical tensions

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No relation to the recent geopolitical tensions: Sevens Report Research Analysts, Quoted in Morningstar

Oil prices settle lower as traders fret over the outlook for demand

Analysts at Sevens Report Research wrote in Tuesday’s newsletter that the crash was deemed to be “an accident and had no relation to the recent geopolitical tensions between Iran and Israel, which allowed for some of the fear bids added on Friday ahead of the weekend to come unwound” at the start of Monday’s trading.

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

Oil Inventories

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