Jobs Report Preview: More Evidence of a Run Hot Economy?
What’s in Today’s Report:
- Jobs Report Preview: More Evidence of a Run Hot Economy?
Futures are modestly lower as tech weakness is offsetting positive geopolitical news.
Broadcom (AVGO) posted disappointing guidance and became the first big AI linked tech company with underwhelming earnings and the stock is down 13% premarket.
Israel and Lebanon agreed to a ceasefire and that’s pressuring oil prices and supporting non-tech stocks.
Today focus will be on geopolitics (tangible progress towards a U.S./Iran ceasefire would be an incremental positive) and economic data via Jobless Claims (E: 212K) and Productivity & Costs (E: 0.7%, 2.3%). It remains the case that Goldilocks economic data (solid activity and stable prices) is the most positive for stocks. We also have two Fed speakers, Barkin (8:30 a.m. ET) and Daly (1:10 p.m. ET), but they shouldn’t move markets.
Sevens Report Technicals
This week’s Sevens Report Technicals focused on a question many investors are asking but few are answering clearly: Is this rally broadening, or are markets becoming even more dependent on a handful of winners?
While major indexes continue to push higher, the underlying technical picture is becoming more nuanced. In Monday’s report, we analyzed key support and resistance levels across stocks, bonds, commodities, currencies, and volatility markets while also highlighting several important divergences developing beneath the surface. We also reviewed sector leadership trends, market breadth, sentiment, and intermarket signals to determine whether this advance remains healthy or if caution is warranted.
If you want a clearer understanding of what is driving markets right now, where leadership is emerging, and which technical signals deserve the most attention in the weeks ahead, click below to access this issue of Sevens Report Technicals and see the charts that matter most.
