Sectors to Buy If This is A ’15/’16 Repeat
Today’s Report is attached as a PDF.
What’s in Today’s Report:
- What Sectors to Buy If This Is a ‘15/’16 Repeat
- Why Are Global Central Banks Turning Dovish? (And Is It A Good Thing?)
- What’s Next for Oil
Futures are moderately weaker as concerns about global growth rise following more weak EU economic data.
German Industrial Production badly missed estimates, falling –0.4% vs. (E) 0.8%, while the European Commission cut 2019 expected EU GDP to 1.3% from 1.9%.
The Reserve Bank of India surprisingly cut rates over night and is now the second large central bank to give markets a dovish surprise (after the RBA on Wednesday).
Today focus will remain on economic data and Fed speak, as we get Jobless Claims (E: 223K), Consumer Credit ($17.5B) and comments by dovish Fed Governor Bullard at 7:30 p.m. ET. If the news is generally dollar bullish and we see a further rise in the dollar, that might weigh on stocks more as a weaker dollar is needed to help boost corporate earnings going forward.
