Tom Essaye Quoted in Axios on March 4, 2019
Tom Essaye was quoted in Axios to share his take on U.S./China trade deal, the big picture and more. Read the full article here.
Tom Essaye Appeared on Cheddar on February 27, 2019
U.S. Trade Representative, Robert Lighthizer, urged caution on China while testifying before Congress. Tom Essaye, Founder of the Sevens Report Research, joined Cheddar to discuss the contradicting narratives coming from President Trump, market and…Watch the entire interview here.
Weekly Market Preview
What’s in Today’s Report:
- What Stocks Fell Late Last Week (It Wasn’t China)
- Weekly Market Preview
- Weekly Economic Cheat Sheet (Important Reports This Week)
Futures and global markets are moderately higher following positive reports on U.S./China trade and the potential for economic stimulus in the EU.
Reuters and Axios both had positive U.S./China trade articles this morning, with Axios reporting Trump & Chinese President Xi may meet in mid-March in Florida. That’s particularly notable because it’s assumed the two leader’s won’t meet until a trade deal is effectively done. So, if the report proves to be true, there’s an end in sight which is an incremental positive.
There were also numerous reports that the ECB is considering re-introducing TLTROs (a type of cheap loan to spur economic activity) to combat slowing EU growth.
Today there are no economic reports or Fed speakers so I’d expect a generally quiet trading day unless we get surprise political (possible government shutdown Friday) or geo-political (more U.S./China trade) headlines.
Sevens Report’s Tom Essaye quoted in Axios on January 30, 2019
Sevens Report’s Tom Essaye quoted in Axios on January 30, 2019. Read the full article here.
Tom Essaye Quoted in Barrons on January 23, 2019
Tom Essaye Quoted in Barrons on January 23, 2019. His take on this unpredictable market. Click here to read the full article.
More Unforced Errors
What’s in Today’s Edition:
- More Unforced Errors
Stock futures are bouncing modestly this morning after the worst Christmas Eve selloff in history took place on Monday which saw all of the major indexes fall well over 2%.
News flows were mostly quiet over the last 48 hours however President Trump did make supportive comments regarding Secretary Mnuchin after he spooked markets Monday and continued to blame the Fed for the recent selloff.
There were no economic reports overnight.
There is not a lot on the calendar today as there are no Fed officials scheduled to speak and there is just one economic report to watch: S&P Corelogic Case-Shiller HPI (E: 0.4%).
As a result, investor focus will remain on U.S. politics and global growth as they have been the main reasons for the most recent stock declines.
Sevens Report’s Tom Essaye appeared on Cheddar on December 12, 2018
Sevens Report’s Tom Essaye appeared on Cheddar on December 12, 2018. He breaks down how Trump’s optimism on trade talks, and impacted the markets.
Watch the entire clip here.
Sevens Report’s Tom Essaye quoted in USA TODAY on December 4, 2018
Sevens Report’s Tom Essaye quoted in USA TODAY on December 4, 2018. Read the full article here.
Will Politics Add to the Volatility?
What’s in Today’s Report:
- Will Politics Add to the Volatility?
- Why Natural Gas is Surging
Futures are slightly higher as more positive U.S./China commentary was offset by Brexit upheaval.
The outlook for U.S./China trade continued to improve as it was confirmed “high level” talks are occurring. But, that positive was offset by Brexit turmoil as the British Brexit Minister resigned over the proposed deal. The Brexit upheaval isn’t a material macro headwind, but it can be filed in the “things this market didn’t need right now” category and it’ll add to volatility.
Fed Chair Powell’s comments after the close were a non-event (he acknowledged some mild softening of economic momentum but didn’t hint at any shift in the policy outlook).
Today there is a lot of important economic data to watch (in order of importance): Retail Sales (E: 0.5%), Empire State Manufacturing Index (E: 20.0), Philly Fed (E: 20.0) and Jobless Claims (E: 215K). There are also multiple Fed speakers today including Quarles (10:00 a.m. ET), Powell (11:00 a.m. ET), Bostic (1:00 p.m. ET), Kashkari (3:00 p.m. ET) but I don’t expect any of them, including Powell, to reveal anything new.
Finally, I’ll be joining Liz Claman on Countdown to the Closing Bell on Fox Business today between 3:00 – 4:00 pm ET to discuss the outlook for this market.