Tom Essaye Quoted in Barrons on January 23, 2019
Tom Essaye Quoted in Barrons on January 23, 2019. His take on this unpredictable market.
Positive News on the U.S. Consumer (Good for Stocks)
Positive news on the U.S. consumer (good for stocks), futures are moderately higher thanks to a dovish Fed article in the WSJ and more solid earnings (SBUX), the WSJ reported that Fed officials are considering ending their balance sheet reduction earlier than expected, and that’s helped lift futures & more.
A Sector With Relative Clarity (and Opportunity)
A sector with relative clarity (and opportunity), futures are slightly higher, January flash PMIs in Japan and the EU were disappointing, today the big number is the U.S. Flash Composite PMI (E: 54.2), as markets are looking for more signs of economic stabilization following the loss of momentum in December and more.
Dow Theory Update
Dow theory update, existing home sales analysis, US futures are bouncing modestly as yesterday’s spike in volatility is digested while major averages in Europe and Asia were little changed during a quiet night of trade and more.
Key Earnings Week
Earnings update and outlook, U.S. futures are tracking global shares lower on renewed economic growth concerns after Chinese GDP hit a near three-decade low of +6.6% in 2018 while the IMF reduced 2019 global economic growth forecasts to 3.5% from 3.7%, today there is just one economic report to watch: Existing Home Sales and more.
Time to Get More Defensive?
Futures are moderately higher thanks to rising U.S./China trade optimism, yesterday’s WSJ article that stated U.S. officials are considering reducing China tariffs spurred a global rally, despite being disputed by administration officials, economic data was mildly disappointing as Japanese CPI (0.7% vs. (E) 0.8%) and UK Retail Sales (-0.9% vs. (E) -0.8%) both slightly missed estimates, although neither report is moving markets and more.
The Rotation Out of Tech Continues
/in Investing, Reports/by Tom EssayeWhat’s in Today’s Report: The Rotation Out of Tech Continues