Economic Breaker Panel
What’s in Today’s Report:
- Economic Breaker Panel (October Edition)
- Oil Update and EIA Analysis
Futures are slightly lower following a night of mixed earnings results and yet another firm inflation report.
TSLA missed on revenue and production targets and the stock fell –5% after hours, although overall earnings reports were more mixed than negative overnight.
German PPI was the latest global inflation indicator to run hotter than estimates (2.3% vs. (E) 1.5%) reinforcing that global inflation is proving “sticky.”
Today’s focus will be on economic data and the key reports are (in order of importance): Philly Fed (-5.0), Jobless Claims (E: 235K), and Existing Home Sales (E: 4.695M). If we can see a moderation in the data (especially in the price indices in Philly Fed) then stocks can rally. We also get numerous Fed speakers including: Harker (12:00 p.m. ET), Jefferson (1:30 p.m. ET), Cook (1:45 p.m. ET), and Bowman (2:05 p.m. ET) but none of them should move markets.
Finally, earnings season rolls on although the critically important results really increase next week. Some reports we’re watching today include: AAL ($0.54), SNAP ($0.00), and WHR ($5.59).
