Market Multiple Table
What’s in Today’s Report:
- August Market Multiple Table
- Growth and Inflation – Which One Falls Faster? (It’s an Important Question Going Forward)
Futures are modestly higher as markets digest Wednesday’s big rally and following better than expected earnings.
Disney (DIS) posted better than expected earnings driven by theme park performance and strong Disney+ subscriber numbers and that’s anecdotally adding to the idea that the economy remains resilient.
There was no notable economic data overnight and investors are looking ahead to this week’s claims data.
Today focus will be on Jobless Claims (E: 260k) and PPI (E: 0.3% m/m, 10.3% y/y) and the market will want to see continued moderation in the jobs market (so claims slowly drifting towards 300k) and for the PPI to also signal a peak in inflation pressures (so numbers that a better than expectations). If the markets get those two readings from the data, the rally can continue.
