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Are Cloud Companies Next Up in the AI Infrastructure Boom?

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What’s in Today’s Report:

  • Are Cloud Companies Next Up in the AI Infrastructure Boom?
  • Jobs Report Preview (Too Hot Worse than Too Cold)

Futures are slightly higher following a night of mixed earnings.

Tech earnings disappointed overnight (especially memory companies WDC and SNDK) and that’s weighing on tech stocks pre-open, but not the broader market.

Economically, EU data was mixed as German Manufacturers Orders beat expectations while EU Retail Sales missed.

Today focus will stay on geopolitics and specifically the details around a Strait of Hormuz passage agreement.  Economically, there are two notable economic reports,  Jobless Claims (E: 201K) and Productivity & Costs (E: 0.7%, 2.2%) and in-line numbers will help to support the market (that’d be more Goldilocks data).

On the Fed, we do have one speaker today, Musalem (5:30 p.m. ET), but he’s after the close and won’t move markets.

Finally, earnings season is winding down but there are still some notable reports today including:  COP ($2.96), DDOG ($0.13), RGTI ($-0.05).

 

Where Is the Market Pointing Next?

The market rarely rings a bell before an important move. More often, it leaves clues through price action, breadth, momentum, and leadership beneath the surface.

This week’s Sevens Report Technicals brings those signals together into a disciplined framework designed to help advisors identify where risks are building, where leadership is changing, and which levels matter most.

Rather than relying on a single chart or indicator, Technicals combines cross-asset analysis, sector and factor trends, and clearly defined risk management levels into one actionable roadmap.

If you want a deeper, chart-based perspective to complement the daily Sevens Report, click below to read more.

Sevens Report Technicals

 

Tech Decline Part Two: Staying Long With Less Risk

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What’s in Today’s Report:

  • Tech Decline Part Two: Ways to Stay Long Tech But Reduce AI Infrastructure

Futures are in the red as oil prices hit six-week highs overnight (WTI topped $88/barrel) amid ongoing geopolitical angst surrounding the U.S.-Iran war, but global equities are stabilizing as the fear bid in energy is beginning to show signs of near-term exhaustion.

Economically, U.K. CPI fell -0.2% to 2.6% vs. (E) 2.7% Y/Y while Core CPI held steady at 2.6% vs. (E) 2.5% Y/Y, the latest evidence that global inflation pressures have potentially peaked.

There are no noteworthy economic reports today and no Fed officials are scheduled to speak (pre-July meeting blackout period) but there is a 20-Yr Treasury Bond auction at 1:00 p.m. ET that could shed light on longer-term inflation expectations and potentially impact equities (the stronger the demand for the bonds, the better).

The primary focus of today’s session will remain the fluid geopolitical conflict in the Middle East (any signs of a ceasefire deal on the table will be a positive) and the Q2 earnings season which remains in full swing with GEV ($3.16), T ($0.59), PM ($2.04), TSLA ($0.53), GOOGL ($2.87), TXN ($1.91), and LUV ($0.52) all due to release quarterly results today.