January Market Multiple Table (Rising Negative Pressure)

What’s in Today’s Report:

• January Market Multiple Table (Rising Negative Pressure on Market Influences)

Futures are modestly higher on dual de-escalation of recent Fed attacks and geopolitical tensions overnight.

President Trump stated last night he didn’t plan on firing Fed Chair Powell and downplayed the chances of a strike on Iran, de-escalating two negative market influences.

Today focus will be on economic data and earnings.  Starting with data, the key reports today include Jobless Claims (E: 212K), Philly Fed (E: -3.5) and Empire Manufacturing (E: 1.0) and stable readings that meet expectations will be the best-case scenario for stocks.  On the Fed front, there are three speakers today, Bostic (8:35 a.m. ET), Barr (9:15 a.m. ET) and Barkin (12:40 p.m. ET) and the more dovish they are, the better for markets.

Finally, turning to earnings, TSM ($2.82) already posted blow out numbers and that’s helping tech, but other reports we’re watching today include GS ($11.77), BLK ($12.41), MS ($2.41) and JBHT ($1.79).