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)
- NY Fed Inflation Expectations
Stock futures are lower and yields are higher after President Trump officially announced 25% tariffs on steel and aluminum imports late yesterday, reigniting global trade war worries.
Economically, the NFIB Small Business Optimism Index fell to 102.8 in January from December’s multi-year highs of 105.1. The headline missed estimates of 104.7 and underscored fading post-election optimism among business owners.
There are no other economic reports today, however there is a 3-Yr Treasury Note auction at 1:00 p.m. ET. Soft demand, and subsequently higher yields could further pressure equities this afternoon with tomorrow’s CPI report in focus.
Additionally, market focus will be on Capitol Hill today as Fed Chair Powell is set to begin his semi-annual Congressional Testimony at 10:00 a.m. ET. We will also hear from the Fed’s Hammack (8:30 a.m. ET) and Williams (3:30 p.m. ET) today. A dovish tone, and further confidence in a soft economic landing will be favorable for equity markets today.
Finally, earnings season continues today with reports from SHOP ($0.43) and KO ($0.51) before the bell and SMCI ($0.54) after the close.
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