The major question for tomorrow’s meeting is what do the dots say?
“The major question for tomorrow’s meeting is what do the dots say: two or three rate hikes?” Essaye says. “That’s really gonna determine how the market reacts to this meeting.”
The March FOMC meeting begins today
“The March FOMC meeting begins today and barring any material ‘tape bombs’ the markets should fall into a familiar positioning churn ahead of tomorrow’s policy announcement and Powell’s press conference,” writes Sevens Report Research’s Tom Essaye.
The key is growth, it’s not rate cuts
“The key is growth, it’s not rate cuts,” Sevens Report Research’s Tom Essaye told Barron’s.
Easing growth concerns surrounding the world’s second largest economy
Chinese retail sales rose 5.5% [versus expectations of 5.2%] and industrial output jumped 7% [versus expectations of 5%] to start 2024, easing some growth concerns surrounding the world’s second largest economy, however property sector woes persist, said Tom Essaye, the founder of Sevens Report Research.
Economic data this week has not been positive for stocks
Economic data this week has not been positive for stocks and while it hasn’t invalidated any of that bullish mantra, it has weakened it, Tom Essaye, founder of Sevens Report Research, said.
The fundamentals are positive but they still don’t justify current valuations
While the fundamentals are positive, they still don’t justify current valuations — making the market vulnerable to a negative surprise.
How Clients Should View Political Headlines
/in Investing, Reports/by Tom EssayeWhat’s in Today’s Report: How Clients Should View Political Headlines.