Market Multiple Table: February Update
Market Multiple Table: February Update: Start a free trial of The Sevens Report.
What’s in Today’s Report:
- Market Multiple Table – February Update (Shareable PDF)
- ISM Services PMI Takeaways: Prices Subindex Surges
U.S. equity futures are little changed as Treasuries stabilize following a 30 basis point spike in yields over the last two sessions while global markets were mixed overnight.
Chinese stocks rallied 4% overnight amid government intervention to stem recent losses while European shares edged up on better than feared Retail Sales and a very strong German Manufacturing Orders Report (+ 8.9%).
Looking into today’s session, there are no economic reports but there is a busy afternoon of Fed speak with Mester (12:00 p.m. ET), Kashkari (1:00 p.m. ET), Collins (2:00 p.m. ET), and Harker (7:00 p.m. ET) all scheduled to deliver commentary. The market will want to hear a less hawkish tone than Powell’s from last week and the weekend in order for Treasuries to continue to stabilize and stocks resume the rally.
Additionally, there is a 3-Yr Treasury Note auction at 1:00 p.m. ET and the outcome could move bond markets and influence equity market trading this afternoon.
Finally, earnings season is beginning to slowdown but there are a few notable quarterly releases today including: SNAP ($0.06), F ($0.13), and CMG ($9.73).
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