An excerpt from the Sevens Report. Sign up for a two-week free trial of the full report at www.7sReport.com. Yesterday I began profiling a couple of non-political risks to explore when making decisions for your clients and talking with prospects. Here’s the second: Non-Political Risk 2: A More Hawkish-Than-Anticipated Federal Reserve Profiling this risk seemed only natural,[…]
An excerpt from today’s Sevens Report. Non-Political Risk #1: Economic Growth Slows. Stronger economic data remains an unsung hero of this post-election rally, and while Trump gets the headlines, it’s really the economic data that’s enabling this rally as better economic growth is allowing the market to continue to give Trump and the Republicans the[…]
Last Week: There was very little incremental economic data last week, and what reports did come met expectations and importantly did nothing to change the perception that economic activity is legitimately accelerating—a perception that continues to support stocks broadly. From a domestic data viewpoint, there isn’t a lot to talk about. Jobless claims continued to[…]
Natural gas futures continued to climb yesterday as weather reports are forecasting colder than average temperatures well into 2017 which is raising prospects for more larger than average supply draws.
Natural gas surged nearly 10% yesterday thanks to speculation that colder temperatures across the country will boost heating demand and in turn, draw down elevated inventories.
Copper futures finally violated the post-election uptrend yesterday suggesting that some profit-taking will likely occur in the coming sessions. $2.50 should be looked to for initial support in the US futures contract.
WTI crude oil futures surged last week, but have yet to materially break out of their multi-quarter trading range between $40 and $50/barrel. Today, focus will be on the weekly EIA inventory report to see if the data can help propel the energy market back to fresh highs.
Since the unexpected Republican sweep in the US elections, the combination of strong growth expectations and more recently, upbeat Chinese manufacturing data has spurred an impressive rally in copper futures.
Gold futures continue to hold on to critical support in the low $1200’s for now, but if the dollar rally continues, it will likely end the short-lived bull market we pointed out back in April.
Oil futures got caught up in “risk trading” during the election drama. Energy futures sold off hard with global stocks overnight Tuesday and then surged higher as money poured back into risk assets on Wednesday. That was about the extent of the effect that Trump had on the energy markets at least so far. Tyler[…]