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Tom Essaye Quoted in Barron’s on August 9th, 2023

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Stocks Pause Ahead of Inflation Data

“The Italian government clarified that a windfall tax on bank profits would be capped, sparking a relief rally in European financials and general risk-on trade in global markets,” Tom Essaye writes. “There are no notable economic reports and no Fed officials are scheduled to speak today which is setting the session up to be fairly quiet as traders await tomorrow’s CPI release.” Click here to read the full article.

Tom Essaye Quoted in Barron’s on August 9th, 2023

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Oil Stocks’ Gains Have Lagged Behind Crude. That’s a Bad Sign for the Shares.

“Consumer gasoline demand has collapsed at a record pace in recent weeks,” wrote Sevens Report’s Tom Essaye, who noted that crude is likely to fall from $83 if demand doesn’t soon stabilize. Click here to read the full article.

Tom Essaye Quoted in Barron’s on August 3rd, 2023

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Treasury Yields Keep Climbing

“The stronger-than-expected ADP jobs report pushed the dollar and long-dated Treasury yields higher on Wednesday, as the bond market continues to price in more resilient growth and/or inflation,” Tom Essaye, founder of the Sevens Report, wrote Thursday.

Click here to read the full article.

Tom Essaye Quoted in Barron’s on August 2nd, 2023

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Stocks Open Lower Amid Fitch Downgrade

“Looking into today’s session, focus will be on the U.S. credit downgrade as investors digest the potential implications on fixed income markets and re-assess valuations of risk assets,” wrote Tom Essaye, founder of the Sevens Report.

Click here to read the full article.

Tom Essaye Quoted in Barron’s on August 2nd, 2023

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Tech Stocks Lead the Market Lower

Wednesday’s market action is a reminder to investors that stocks can still go down, Tom Essaye, founder of the Sevens Report, said in an interview with Barron’s.

“When you have a market that is essentially pricing in nothing bad happening and all of a sudden you get kind of a surprise – then it’s a reason to sell and I think that’s what we’re seeing today,” Essaye said.

Click here to read the full article.

Tom Essaye Quoted in Barron’s On July 19th 2023

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Stocks Can Keep Rising, According to Dow Theory

“Dow Theory, which is one of the most historically accurate strategies to identify the primary trend in the stock market, is now saying the path of least resistance is higher for the first time since April of 2022,” wrote Sevens Report’s Tom Essaye. Click here to read the full article.

Tom Essaye Quoted in Barron’s on July 17th, 2023

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4 ETFs to Play a Stock Market That Keeps Rallying

However, last week’s readings point toward falling inflation and stable economic growth—a goldilocks scenario, or Immaculate Disinflation, as Sevens Reports’ founder Tom Essaye writes. However, last week’s readings point toward falling inflation and stable economic growth—a goldilocks scenario, or Immaculate Disinflation, as Sevens Reports’ founder Tom Essaye writes. Click here to read the full article.

PPI and Jobless Claims Strengthen the “Goldilocks” Narrative

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What’s in Today’s Report:

  • PPI and Jobless Claims Strengthen the “Goldilocks” Narrative

Futures are little changed following a quiet night of news as markets digest the Wed/Thurs rally and focus turns to the start of the Q2 earnings season.

Economically, there was more evidence of global disinflation (or deflation) as German Wholesale Prices (think their PPI) declined –2.9% y/y vs. (-1.2%) y/y.

Today focus will be on earnings, as we get several major bank earnings results:  JPM ($5.92), C ($1.31), WFC ($1.15), and BLK ($8.47) as well as UNH ($5.92).  These large cap companies usually don’t provide too many surprises in their earnings reports, but markets will want to hear positive commentary on the overall environment to further support this latest rally in stocks.

There are also two notable inflation linked economic reports today, Import & Export Prices (E: -0.2%, -0.4%), Consumer Sentiment (E: 65.0), but barring any major surprises they shouldn’t move markets.

Tom Essaye Quoted in Barron’s on July 3rd, 2023

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Stocks Tick Lower to Start Holiday-Shortened Session

“At this point, and with yields this high, markets need to see solid data and that means the ISM Manufacturing PMI moving closer towards 50 and beating expectations,” Sevens Report Research’s Tom Essaye writes. Click here to read the full article.

Sevens Report Co-Editor, Tyler Richey, Quoted in Morningstar on June 29th, 2023

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Oil futures finish higher, contributing to the month’s gain

Oil stabilized at support near the 2023 lows following Wednesday’s weekly Energy Information Administration report, which showed a “massive draw” in commercial crude-oil stockpiles, said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.