Did Markets Pass or Fail the Three Tests Last Week?
What’s in Today’s Report:
- Did Markets Pass or Fail the Three Tests Last Week?
- Weekly Market Preview: Focus on Earnings This Week
- Weekly Economic Cheat Sheet: Important Growth Updates
Futures are slightly higher as markets bounce from Friday’s declines despite further escalation between the U.S. and Iran over the weekend.
Oil prices hit $90/bbl overnight on continued escalation between the U.S. and Iran but pulled back and are flat after both sides reiterated they are still open to negotiations.
Economically, there was more positive inflation data as German PPI fell more than expected (-0.3% vs. (E) -0.2%).
Today there are no notable economic reports but focus will remain on geopolitics and any progress (at all) on a new ceasefire agreement will be a positive for stocks.
On earnings, this week is an important one although most of the major reports come later this week. Some results we’re watching today include: DPZ ($4.09), AMC ($-0.01), STLD ($3.66).
