How Big of a Problem is AI for this Market?

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What’s in Today’s Report:

  • How Big of a Problem is AI for this Market?
  • Understanding Why Treasury Yields Dropped Last Week (Important)
  • Weekly Market Preview: Can Tech Earnings stabilize AI Sentiment?
  • Weekly Economic Cheat Sheet: Flash PMIs the Key This Week

Futures are modestly higher as tech stocks bounce from Friday’s declines while oil prices dropped 1% overnight on hopes of diplomatic progress between Russia and Ukraine.

Tech stocks are seeing an oversold bounce ahead of some important tech sector earnings reports this week (SPCX & META) but nothing materially “positive” occurred overnight.

Geopolitically, Russia has apparently proposed a Putin/Xi/Trump summit to negotiate a Ukraine deal that would ultimately produce a ceasefire.

Today there is only one notable economic report, Housing Market Index (E:31), and that shouldn’t move markets so focus will stay on geopolitics and any diplomatic progress on any of the three wars will be a positive for markets.

On earnings, tech earnings ramp up later this week.  Some reports we’re watching today include FITB ($1.09), STLD ($5.42), WRB ($1.14), CCK ($2.25).

 

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