Why the October Sell Off Was Different
Why The October Sell Off Was Different, valuation Update (the market is fairly valued here), futures are moderately lower, today focus will be on inflation via PPI (E: 0.2%) and it needs to remain “Goldilocks” so as to not put more downward pressure on stocks. We also have several Fed speakers (Williams (8:30 a.m. ET), Harker (8:50 a.m. ET), Quarles (9:00 a.m. ET)) although the next big Fed event will be Fed Chair Powell speaking on Tuesday and more.
Election Takeaways & FOMC Preview
Election Takeaways (Short and Longer Term Implications), today focus will be on the FOMC Decision (2:00 p.m. EST, E: No Change to Rates) and the key will be whether the Fed mentions recent stock market volatility. If they do, that will be taken as a slightly dovish shift, and it likely will help extend today’s early rally, as was widely expected, Democrats gained a small majority in the House of Representatives, while the Republicans expanded their majority in the Senate and more.
Sevens Report’s Tyler Richey quoted in Wall Street Journal on November 1, 2018
Sevens Report’s Tyler Richey quoted in Wall Street Journal on November 1, 2018.
Trade War Indicator
Today, trader focus is going to primarily be on the mid-term elections although results will not come in until after the close, a realtime trade-war indicator to watch, futures are slightly lower with EU markets this morning on renewed political tensions despite upbeat economic data o/n while US focus turns ahead to the mid-terms and more
Growth and Volatility
“Growth Pillar” Remains Solid, but Volatility Not Necessarily Over, US stock futures are little changed this morning, on the charts, 2705 will be a key support level to watch in the S&P today, looking into today’s session, there is one economic report to watch in the US: ISM Non-Manufacturing Index (E: 59.4) and there are two Fed speakers: Williams ahead of the bell (8:30 a.m. ET), and Kaplan later this evening (7:30 p.m. ET). and more.
Rebound Update
Rebound Update, futures are decidedly higher this morning after Chinese shares led global equities higher overnight thanks to continued optimism about a US-China trade deal, once earnings and economic data are digested, focus will likely return to momentum, technicals, and any incremental news on trade and more.
Contrarian Opportunity in Chinese Tech (3 ETFs)
/in Investing, Reports/by Tom EssayeWhat’s in Today’s Report: Can Singles’ Day and Stimulus Offset Concerns in Chinese Stocks?