Putting the Tech Sector Dominance in Real Numbers

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What’s in Today’s Report:

  • Putting the Tech Sector Dominance in Real Numbers
  • ISM Manufacturing PMI Takeaways

Markets are risk-off this morning with stock futures down ~1% while bonds are bid thanks to the combination of cautious comments from banking executives at a global conference overnight and disappointing PLTR earnings (shares down 7%+ in premarket trade).

Looking into today’s session there are a handful of economic releases to watch today including: International Trade in Goods (E: $-64.1B), Factory Orders (E: 0.2%), and JOLTS (E: 7.3 million) assuming none are delayed due to the government shutdown.

There is one Fed speaker on the calendar as well as Bowman began speaking at 6:35 a.m. ET at the Santander International Banking Conference in Spain.

Finally, we will get earnings and guidance figures from more important multi-national companies today, including UBER ($0.67), SPOT ($1.87), AMD ($0.97), SMCI ($0.19), AXON ($0.07), AMGN ($5.00), and PFE ($0.66), and based on the risk-off money flows related to the soft PLTR release that is weighing on equities today, investors will want to see better numbers, especially out of tech-focused firms.

 

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