Bear vs Bull

Market Multiples Explained

What’s in Today’s Report:

  • Market Multiples Explained
  • Real Interest Rates and Gold

Futures are up modestly while international markets were mixed in quiet trade overnight as investors eyed the benign start of China’s NPC where 2019 forecasts largely met expectations while economic data was mixed.

China’s General Services PMI fell from 53.6 to 51.1 in February while Composite PMI data in Europe was better than expected which is helping EU shares outperform this morning.

Today, there are two Fed officials speaking early: Rosengren (7:30 a.m. ET) and Kashkari (9:30 a.m. ET), before a few notable economic reports are due to be released shortly after the bell: New Home Sales (E: 590K) and ISM Non-Manufacturing Index (E: 57.2). Beyond those potential catalysts, focus will remain on U.S. – China trade.