Market Multiple Table: All About Growth
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What’s in Today’s Report:
- Market Multiple Table – All About Growth
- Chart – Semiconductor Stocks Bounce, But Long Term Technicals Deteriorate
Stock futures are tracking global equity markets higher as traders shrug off an earnings miss from AI-proxy SMCI (stock down 14% pre-market) and instead focus on a pullback in the yen and sharp drop in the VIX.
Economically, German Industrial Production rose 1.4% vs. (E) 1.0%, further easing global recession worries.
Today, there is one second-tiered economic report due to be released in the afternoon: Consumer Credit (E: $10.0B) but the data is unlikely to move markets.
There are no Fed officials scheduled to speak today but there is a 10-Yr Treasury Note auction at 1:00 p.m. ET. Auction results that are strong could bolster recession worries while a weak auction could rekindle “higher for longer” policy rate worries.
Finally, earnings season continues to wind down with only a few notable reports today including: DIS ($1.20), CVS ($1.74), LYFT ($0.19).
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