SPX: Three Key Market Drivers Right Now Says Essaye
Economic growth overtakes tariffs as top market influence
SPX: Today’s Three Most Important Stock Market Drivers
Stocks rallied Monday after last week’s sharp pullback, but Tom Essaye of the Sevens Report says fundamentals have slightly worsened since July.
Economic growth is now the primary driver of markets, with recession fears posing sharp downside risk regardless of Fed rate cuts. Fed policy ranks second, as investors look for confirmation of a likely September cut. Tariffs, once the dominant factor, now rank third, with rates expected to settle between 15%-20%, raising stagflation risks but adding some trade stability.
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