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

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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.

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

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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.

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

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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

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Tom Essaye Interviewed on Schwab Network

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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.

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

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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.

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

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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.

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Fundamental influences are “conflicted” right now

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Fundamental influences are “conflicted” right now: Sevens Report Co-Editor, Tyler Richey, Quoted in Morningstar

Global oil prices fall for fourth straight session, with demand and Middle East risks in focus

Fundamental influences are “conflicted” right now, Tyler Richey, co-editor at Sevens Report Research, told MarketWatch.

“Higher-for-longer central bank policy expectations, a strengthening dollar, and subsequent worries about the sustainability of economic growth in a high-rate/strong-dollar environment, are acting as headwinds on global oil prices,” he said, while “simmering geopolitical situation between Israel and Iran is simultaneously keeping a fear-bid in the market.”

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

Oil Inventories

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Higher-for-longer central-bank policy expectations

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Higher-for-longer central-bank policy expectations: Sevens Report Co-Editor, Tyler Richey, Quoted in MarketWatch

Oil prices end mixed as traders weigh demand prospects, Middle East risks

“Higher-for-longer central-bank policy expectations, a strengthening dollar, and subsequent worries about the sustainability of economic growth in a high-rate/strong-dollar environment, are acting as headwinds on global oil prices,” said Tyler Richey, co-editor at Sevens Report Research. He added that the “simmering geopolitical situation between Israel and Iran is simultaneously keeping a fear-bid in the market.”

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

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A lot of that news has been digested by markets during this pullback

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A lot of that news has been digested by markets during this pullback: Sevens Report Editor, Tom Essaye, Quoted in Barron’s

Dow Closes Flat Ahead of CPI Report

Sevens Report Research’s Tom Essaye told Barron’s that the move seemed to be a bounce after a string of down days, since none of the data out Thursday were particularly upbeat. He points to a hot Philly Fed index, mixed earnings, and hawkish comments from New York Fed President John Williams.

“But, a lot of that news has been digested by markets during this pullback and because it’s nothing new, we’re seeing a bit of a relief rally,” Essaye says. “However, none of today’s headlines solve any of the problems the market has been dealing with so I don’t think this is a bounce that will last, barring a positive surprise on inflation, geo-politics or earnings.”

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

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“It’s Pretty Much Economics 101”

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It’s pretty much Economics 101: Tom Essaye Quoted in Forbes

Bitcoin Halving: Here’s Why Some Expect Prices To Soar

Bitcoin rose 8,069% in the 12 months after the 2012 halving, 284% following the 2016 halving and 559% after the 2020 halving.“It’s pretty much Economics 101” that bitcoin prices go up after halving, according to Sevens Report analyst Tom Essaye, who explained that so long as demand doesn’t decrease and new supply goes down, the “only thing left to move is price.”

Also, click here to view the full Forbes article published on April 17th, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up here.

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.

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