Futures prices traded in contango last month, when the May contract settled negative ahead of its expiration, but the move into backwardation “shows that there is…” says Tyler Richey, co-editor at Sevens Report Research.
What’s in Today’s Report: Why Stocks Dropped Yesterday? More Housing Trouble? Are “Gassy” MLPs a Buy? Today will be another quiet day, as we have no Fed speakers and just one economic number: Housing Starts (E: 1.24M), futures are moderately lower on momentum as Monday’s U.S market declines spilled over globally and more.
Four keys to a bottom, weekly market preview (busy despite the holiday), weekly economic cheat sheet (all about flash PMIs and housing), futures are marginally lower following a very quiet weekend as markets digest the Thursday/Friday rally and more.
https://sevensreport.com/wp-content/uploads/2018/11/Barrons-logo-200x250.jpg200250Nidhi Maniarhttps://sevensreport.com/wp-content/uploads/2019/02/sevens-report-research-logo.pngNidhi Maniar2018-11-16 12:37:452018-11-16 12:37:45Sevens Report’s Tom Essaye quoted in Barron’s on November 15, 2018.
https://sevensreport.com/wp-content/uploads/2018/09/Fox-Business-logo.jpg235281Customer Servicehttps://sevensreport.com/wp-content/uploads/2019/02/sevens-report-research-logo.pngCustomer Service2018-11-16 12:28:452018-11-16 12:28:45Sevens Report’s Tom Essaye appeared on Fox Business on November 15, 2018
Technical update, economic data recap, EIA analysis and oil update and more. Today, there is one important economic report to watch: Industrial Production (E: 0.2%) and two Fed speakers: Clarida before the open (8:30 a.m. ET) and Evans just before lunch (11:30 a.m. ET), otherwise, focus will be on tech shares today as if the bad earnings from NVDA weigh on the sector more broadly, then stocks will have a hard time extending yesterday’s bounce.
Will Politics Add to the Volatility? Today there is a lot of important economic data to watch (in order of importance): Retail Sales (E: 0.5%), Empire State Manufacturing Index (E: 20.0), Philly Fed (E: 20.0) and Jobless Claims (E: 215K). There are also multiple Fed speakers today including Quarles (10:00 a.m. ET), Powell (11:00 a.m. ET), Bostic (1:00 p.m. ET), Kashkari (3:00 p.m. ET) but I don’t expect any of them, including Powell, to reveal anything new.
https://sevensreport.com/wp-content/uploads/2018/11/Politics-200x250.jpg200250Tom Essayehttps://sevensreport.com/wp-content/uploads/2019/02/sevens-report-research-logo.pngTom Essaye2018-11-15 10:44:442018-11-15 10:44:44Will Politics Add to the Volatility?
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