Monitoring Private Credit Risk Through Credit Spreads

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What’s in Today’s Report:

  • Monitoring Private Credit Risk Through Credit Spreads

Futures are little changed following mixed tech earnings overnight.

Nvidia (NVDA up 0.9% pre-open) posted strong earnings but only met market expectations while Salesforce (CRM down 3% pre-open) beat earnings but guidance was light.

Economically, Euro Zone Economic Sentiment slightly missed estimates (99.6 vs. (E) 98.3).

Today there is one economic report, Jobless Claims (E: 215K) and one Fed speaker, Bowman (10:00 a.m. ET) but market focus will be on software stocks and the U.S./Iran talks.

Investors will want to see software (so IGV) “hold up” despite soft CRM guidance and if it can, that could spur another rally.  If it can’t, and IGV rolls over it could be another ugly day.  Geo-politically, the U.S. and Iran host another round of talks today and any hints of de-escalation will be a positive for markets.

Finally, important tech earnings continue today with CRWV ($-0.61), DELL ($3.32) and INTU ($2.23).

 

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