Second Half Outlook

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What’s in Today’s Report:

  • Second Half Outlook
  • Weekly Economic Cheat Sheet

Stock futures are little changed with investors focused on OPEC+’s failure to reach a new output policy agreement yesterday while economic data was mixed overnight.

OPEC+ called off a follow-up meeting yesterday after the UAE would not agree to extending production cuts through 2022 which drove oil to new multi-year highs in overnight trading as current cuts will remain in place by default, deepening supply deficit expectations for the second half of the year.

Economically, Final Composite PMI reports were mostly as expected while EU Retail Sales topped estimates but none of the data materially moved markets overnight.

Today, there is just one notable economic report to watch: ISM Services Index (E: 63.5), and no Fed officials are scheduled to speak. That will leave investors focused on the oil market in the wake of the OPEC+ developments as well as awaiting any news on infrastructure as the calendar is otherwise fairly quiet as we start the holiday-shortened trading week today.

Tom Essaye Quoted in Investing.com on June 15, 2021

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Macro Fireworks: Stock Market Soars to New ATH While Bitcoin Awaits the Breach of An Important Level

In order for Bitcoin to resume that rally, I think you’re going to need to see more widespread…said Tom Essaye, a former Merrill Lynch trader. Click here to read the full article.

Tom Essaye Quoted in Aljazeera on June 14, 2021

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As Bitcoin tops $40,000 again, analysts eye $50,000

Bitcoin is always going to be volatile and the manic run-up we had was never sustainable. The question is…said Tom Essaye, a former Merrill Lynch trader who founded “The Sevens Report” newsletter. Click here to read the full article.

 

Tom Essaye Quoted in Courthouse News Service on May 28, 2021

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Markets Eke Out Winning Week in Swirl of Data, Good and Bad

Put differently, we all know that inflation surged in April. The key is whether it keeps going through the summer. If inflation continues during the summer months that could cause volatility and… Essay wrote. Click here to read the full article.

 

Tom Essaye Quoted in CNBC on May 25, 2021

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S&P 500 erases gains and ends day slightly lower as market rally stalls

The market is basically in a holding pattern until the next big event, which is the Fed’s tapering schedule (or not tapering schedule), until we have more…said Tom Essaye, founder of Sevens Report. Click here to read the full article.

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Tom Essaye Quoted in ETF Trends on May 24, 2021

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Why Are Commodities Having Such a Spectacular Year?

Commodities are the basic input for global growth and contribute and correlate with inflation. Consequently, related ETFs would typically…explained Tom Essaye, a former Merrill Lynch trader who founded “The Sevens Report” newsletter. Click here to read the full article.

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Tom Essaye Quoted in Barrons on May 7, 2021

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Roku Pops, Peloton Jumps, and Tech Is on a Tear

“Today’s focus will be on the Employment…” writes Tom Essaye, founder of Sevens Report, before the jobs report emerged. Click here to read the full article.

Tom Essaye Quoted in CNBC on April 19, 2021

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Dow closes 250 points lower for back-to-back losses, reopening plays lead decline

“By now, we are all used to companies beating analyst estimates,” said Tom Essaye, founder of Sevens Report. “The key …” Click here to read the full article.

Tom Essaye Quoted in Barrons on March 29, 2021

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“Archegos Capital was unable to make margin calls last week which resulted in losses, and Nomura and Credit Suisse, and that’s causing some mild anxiety about more…” wrote Tom Essaye, founder of Sevens Report Research. Click here to read the full article.

Tom Essaye Quoted in CNBC on March 23, 2021

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“This is the first bull market that any of us have been through where it’s been essentially manufactured by the government and by the Fed,” said Tom Essaye, founder of Sevens Report. Click here to read the full article.