Is This A Teflon Market? (No. Here’s Why)
Is This A Teflon Market? (No. Here’s Why): Start a free trial of The Sevens Report.
What’s in Today’s Report:
- Is This A Teflon Market? (No. Here’s Why)
- Weekly Market Preview: Can Data and Fed Speak Extend the Rally?
- Weekly Economic Cheat Sheet: All About Employment (Jobs Report Friday among others).
Futures are slightly lower following quiet weekend of news as markets digest Friday’s rally.
Geopolitically, hope is growing for a six-week ceasefire in Gaza that could be announced in the coming days and that’s modestly weighing on oil prices.
The S&P 500 will become even more “AI” sensitive as SMCI (Super Microcomputer) will in added to the S&P 500, incrementally increasing tech exposure to the index.
This will be a potentially busy week of catalysts but it starts slowly today as there are no economic reports and just one Fed speaker, Harker at 11:00 a.m. ET. So, absent any surprises, expect yields to drive stocks. If the 10-year Treasury yield drifts lower, don’t be surprised if stocks recoup these early losses.
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