Hard Landing/Soft Landing Scoreboard (October Update)
Hard Landing/Soft Landing Scoreboard (October Update): Start a free trial of The Sevens Report.
What’s in Today’s Report:
- Hard Landing/Soft Landing Scoreboard (October Update)
Futures are slightly higher thanks to better-than-expected Chinese economic data and more solid tech earnings.
Chinese Retail Sales and Fixed Asset Investment both beat estimates, boosting investor sentiment towards China.
On earnings, NFLX beat estimates and is the second straight big tech company to post solid results.
Today we have one economic report, Housing Starts (1.400M) and several Fed speakers, including Bostic (9:30 a.m. & 12:30 p.m. ET), Kashkari (10:00 a.m. ET) and Waller (12:10 p.m. ET). With recent data stronger than expectations, if today’s Fed officials (including Waller) reinforce their desire for two rate cuts that will be an incremental positive.
Earnings season also continues to roll on and today we get notable reports from AXP (E: $3.27), PG (E: $1.90) and RF (E: $0.53).
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