I expect the rest of the week to be very quiet
I expect the rest of the week to be very quiet: Sevens Report Editor, Tom Essaye, Quoted in Barron’s
S&P 500, Nasdaq Hit New Records
“It essentially will kind of kill the week, to be honest, because anybody that can take Thursday and Friday off just got basically almost a week off,” Sevens Report Research’s Tom Essaye told Barron’s. “There will be plenty of people who will do that. So I expect the rest of the week to be very quiet.”
A wave of Federal Reserve speakers did little to shift the market. Investors know that interest rate cuts will depend on the data in the coming months. Essaye says it will take a surprise from economic data such as jobless claims to wake up the market this week.
“There’s really quite a confluence of data that’s starting to point to some labor market easing. In everyone’s concern that the economy is going to slow, that’s been the missing piece,” Essaye says.
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