The ultimate direction of the S&P 500 will still be determined by economic growth
“The ultimate direction of the S&P 500 will still be determined by economic growth,” remarked Sevens Report analyst Tom Essaye in a Monday note.
What is Causing This Pullback?
What’s in Today’s Report: What is Causing This Pullback? Yield Curve Update: 10’s-2’s Just Hit a Two-Year High
The oil market began the week with a thud
“The oil market began the week with a thud [Monday], failing to stabilize after the sharp losses in the back half of last week,” said Tyler Richey, co-editor at Sevens Report Research.
Price-negative for oil
The improved prospects of a Donald Trump victory in the 2024 election are “price-negative for oil as he has said he plans to support production increases to increase energy independence and lower prices,” said Tyler Richey, co-editor at Sevens Report Research.
Dow Theory: Transports Sputter, Industrials Power On
What’s in Today’s Report: Dow Theory: Transports Sputter, Industrials Power On
Corporate earnings growth and interest rate movements are likely to more directly impact equity prices.
The stock market fallout of shifting expectations for November’s election will likely be “very short term,” Sevens Report founder Tom Essaye wrote to clients, as more directly impactful developments like corporate earnings growth and interest rate movements are likely to more directly impact equity prices.
The market is just sort of drifting around
/in Investing, Reports/by Customer Service“The market is just sort of drifting around,” Sevens Report Research’s Tom Essaye told Barron’s in a phone interview.