Hard Landing/Soft Landing Scoreboard (Updated)
Hard Landing/Soft Landing Scoreboard (Updated): Start a free trial of The Sevens Report.
What’s in Today’s Report:
- Hard Landing/Soft Landing Scoreboard (Updated)
- Post Fed Technical Takeaways
Futures are modestly lower on disappointing earnings results and as markets digest Thursday’s big rally.
Fed Ex (FDX) missed earnings, cut guidance and voiced concern about economic growth and that negative print is contributing to the decline in futures.
The Bank of Japan kept rates unchanged (as expected) and didn’t provide a hawkish surprise, although the BOJ is expected to hike rates again between now and year-end.
Today there are no notable economic reports and just one Fed speaker (Harker (2:00 p.m. ET)) and given that lack of catalysts we’d expect some continued digestion of Thursday’s big rally.
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