Market Multiple Chart: Multiple Expansion Lifts Scenario Targets
Market Multiple Chart: Multiple Expansion Lifts Scenario Targets: Start a free trial of The Sevens Report.
What’s in Today’s Report:
- MMT Chart: Multiple Expansion Lifts Scenario Targets
Futures are solidly higher thanks to a surprise rate cut from the SNB and despite worsening geo-political tensions.
The Swiss National Bank surprisingly cut rates 25 bps, citing easing inflation pressures, as the global rate cut cycle gets underway.
Geo-politically, the leader of Hezbollah threatened Israel with war, underscoring rising tensions between Israel and Lebanon.
Today will be a moderately busy day of data and news. First, there is a Bank of England Rate Decision and while no change in rates is expected, the BOE may signal it’s ready to cut rates in the next meeting or two.
Economically, there are two important reports today: Jobless Claims (E: 235K) and Philly Fed (E: 5.2). Given the recent data showing a loss of momentum in economic growth, investors will want to see better than expected readings (while soft readings will strengthen the narrative for slowing growth).
Finally, the parade of Fed speakers continues this week with Kashkari (8:45 a.m. ET) and Barkin (4:00 p.m. ET) but unless one of them openly discuss rate hikes, they shouldn’t move markets.
Join thousands of advisors from huge brokerage firms like Morgan Stanley, Merrill Lynch, Wells Fargo Advisors, Raymond James, and more! To start your quarterly subscription and see how The Sevens Report can help you grow your business, click here.
