What’s in Today’s Report:
- Market Multiple Update: As Good As It Gets?
- Economic Data Recap
It is another slow morning in the markets as stock futures are tracking the modest gains of overseas equities amid good economic data but underwhelming earnings news.
FDX shares are down 7% in pre-market trading after the company missed on earnings and lowered 2020 guidance.
The German Ifo Survey showed improving economic sentiment in Europe’s largest economy with both Current Conditions and Business Expectations figures topping estimates which is helping EU stocks edge higher this morning.
Looking into today’s session, it is lining up to be another quiet day as there are no economic reports and only one Fed official is scheduled to speak: Evans (12:40 p.m. ET).