Charles Dow Would Be Selling Stocks Now
What’s in Today’s Report:
- Charles Dow Would Officially Be Selling Stocks Now
- Consumer Confidence Takeaways – Another Survey-Based Whiff of Stagflation
Futures are slightly lower after a mostly quiet night of news as this week’s so-far-solid gains are digested with investors weighing favorable inflation data out of Europe against simmering tariff uncertainties.
Economically, U.K. CPI fell from 3.0% to 2.8% vs. (E) 2.9% in February with Core CPI down from 3.7% to 3.5%. The “cool” inflation data is helping U.K. markets outperform European peers this morning.
Today, there is one noteworthy and potentially market-moving economic report due out ahead of the open: Durable Goods Orders (E: -1.0%). A “Goldilocks” report that is no worse than expected should help equities maintain WTD gains while a “too hot” or “too cold” print could spark some profit taking given the tentative nature of this week’s advance.
Additionally, there are two Fed speakers today: Kashkari (10:00 a.m. ET) and Musalem (1:10 p.m. ET), as well as a 5-Yr Treasury Note auction at 1:00 p.m. ET. Less-hawkish commentary from the Fed officials and healthy but not urgent demand for the 5-Yr Notes should be well-received by investors today.
Finally, there are a few noteworthy, late-season earnings reports due out today from DLTR ($2.18), CHWY ($3.19), and JEF ($0.88), but none are likely to have a material impact on the broader market.
