Sevens Report Co-Editor Quoted in MarketWatch on June 9th, 2023

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U.S. oil futures fall for the session, lose more than 2% for the week

Prices had started the week moving higher after Saudi Arabia said it would cut output by an additional 1 million barrels per day in July. However, “traders faded the move,” as the Saudi cut would only remove one-third of a single day’s worth of global oil production over the course of July, said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.

Tom Essaye Interviewed by Yahoo Finance on June 6th, 2023

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‘Talk of $100 oil is pie in the sky,’ says strategist

“Not only is demand an issue, but also we have Russia basically pumping as much oil as they possibly can, whatever their quotas are supposed to say, to try to fund their war,” Tom Essaye, Sevens Report Research founder told Yahoo Finance Live. Click here to watch or read the full article.

Tom Essaye Quoted in Yahoo Finance on June 6th, 2023

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We’re in the midst of a market ‘melt-up’: Morning Brief

“It’s just Wall Street slang, essentially, for a market that won’t go down, even if there are headlines that mean it should,” clarified Tom Essaye, Sevens Report Research Founder and President. Click here to read the full article.

Tom Essaye Joins Yahoo Finance to Discuss Market Trends to Watch on June 5th, 2023

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5 stock market trends to watch this summer

As the 2023 summer season approaches, Yahoo Finance’s Brian Sozzi breaks down 5 stock market trends to watch this summer. Ben Laidler, eToro Global Markets Strategist, and Tom Essaye, Sevens Report Research Founder and President, join Yahoo Finance Live to discuss what they’re watching this summer. Click here to watch the full interview.

Tom Essaye Joins Yahoo Finance to Discuss Apple’s Latest Product on June 5th, 2023

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Apple stock: Why a headset could send shares even higher

Apple is rumored to reveal a mixed reality headset at their latest WWDC event. Could it be a catalyst to send Apple shares to new highs? eToro Global Markets Strategist Ben Laidler and Tom Essaye, Sevens Report Research Founder and President, discuss how mixed reality headsets could become a tech sector market driver. Click here to watch the full interview.

Tom Essaye Discusses The Market Outlook on Yahoo Finance on June 5th, 2023

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Morgan Stanley expects 16% earnings drop for S&P 500 companies

The S&P 500 is nearing a bull market. But Morgan Stanley analysts are predicting a 16% earnings drop for S&P 500 companies. Ben Laidler, Global Markets Strategist at eToro, and Tom Essaye, Sevens Report Research Founder and President, give their takes on what lies ahead for the market. Click here to watch the full interview.

Tom Essaye Joined Yahoo Finance Live on June 5th, 2023

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Oil prices rise after Saudi Arabia pledges production cut: How it will impact inflation

Oil prices are on the rise after a pledge from Saudi Arabia to cut production into 2024. Ben Laidler, eToro Global Markets Strategist and Tom Essaye, Sevens Report Research Founder and President discuss the impact of this decision upon the global energy market. Click here to watch the full video.

A “Make or Break” Week for the Rally

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What’s in Today’s Report:

  • A “Make or Break” Week for the Rally
  • Where the Opportunity is in Stocks Right Now
  • Weekly Market Preview:  Will Data Confirm “Goldilocks” Optimism?
  • Weekly Economic Cheat Sheet:  CPI Tuesday, Fed Wednesday, Key Growth Data Thursday

Futures are slightly higher on momentum from last week’s rally, as it was a very quiet weekend of actual news and investors are looking ahead to multiple important market catalysts this week.

Economically, the only notable number was Japanese PPI which rose 5.1% y/y vs. (E) 5.7% y/y in what is the latest sign of global disinflation.

Oil declined more than 2% overnight on over supply concerns as Russia is largely ignoring its production quota.

Today there are no notable economic reports nor any Fed speakers, so barring any major surprises markets should be relatively calm ahead of tomorrow’s CPI report, Wednesday’s FOMC decision and Thursday’s important economic data.

A Tale of Two Trades

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What’s in Today’s Report:

  • A Tale of Two Trades

Futures are slightly lower as markets digest Thursday’s rally following a very quiet night of news.

Economically, the only notable report overnight was Chinese PPI, which feel –4.6% vs. (E) -4.2% and provided the latest sign that global disinflation is potentially accelerating.

Politically, former President Trump was federally indicted for illegally retaining classified documents, although that shouldn’t impact markets.

Today there are no economic reports and no Fed speakers, so near term technicals should drive trading with all eyes focused in whether the S&P 500 can break above 4,300 for the first time in over a year.

What the BOC Rate Hike Means for U.S. Interest Rates

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What’s in Today’s Report:

  • What the BOC Rate Hike Means for U.S. Interest Rates

Futures are little changed despite more economic stimulus from China.

The Chinese government cut bank deposit rates and encouraged lending to boost auto sales in the latest effort to stimulate the economy, although the moves were already expected so this isn’t a new, positive surprise.

Economic data was sparse overnight with Japanese and EU GDPs the only notable releases, and neither number moved markets.

Today the only notable economic report is Jobless Claims (E: 235K) and markets will want to see stability in the data (so no sudden jump higher), but more broadly markets remain in a temporary “holding pattern” with the CPI report and Fed decision now both looming less than a week away.