Sevens Report - Daily stock market analysis

Sentiment Update: Stronger Than You Might Think

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What’s in Today’s Report:

  • Sentiment Update: Stronger Than You Might Think
  • Warsh Confirmation Hearing Takeaway
  • Retail Sales – Resilient Consumer Spending Continues

Futures are bouncing back from yesterday’s geopolitically-fueled, late-session losses as President Trump declared an indefinite ceasefire with Iran after the close.

Economically, UK CPI met estimates at 3.3% Y/Y while Core CPI cooled 0.1% to 3.1% vs. (E) 3.2% in March, the latest release to suggest the U.S.-Iran war has not yet had a material impact on inflation pressures globally.

There are no noteworthy economic reports today and no Fed officials are scheduled to speak. However, the Treasury will hold a 4-Month Bill auction at 11:30 a.m. ET and a 20-Yr Bond auction at 1:00 p.m. ET that could move yields and influence equities today.

Finally, earning season continues with GEV ($1.79), BA ($-0.86), T ($0.55), ELV ($10.68), PM ($1.82), IBM ($1.81), LUV ($0.45), and the first Mag-7 name of the season, TSLA ($0.21) due to report today.

 

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