Posts

When Could the Selling Stop?

What’s in Today’s Report:

  • When Could the Selling Stop?
  • Weekly Economic Cheat Sheet

Stock futures are solidly higher this morning, rebounding from last week’s more than 5% selloff while global markets stabilized following a mostly quiet weekend.

President Biden and St. Louis Fed President, Jim Bullard, both downplayed the threat of a severe recession on Monday which is helping drive risk-on money flows this morning while there were no market-moving economic reports overnight.

From a catalyst standpoint, there is just one economic report today: Existing Home Sales (E: 5.40M) and two Fed officials are scheduled to speak: Mester (12:00 p.m. ET) and Barkin (3:30 p.m. ET).

Bottom line, for this morning’s relief rally to continue today the market will need to see stable price action in bond markets, economic data meet or beat expectations and Fed officials to maintain an optimistic tone as that could see the S&P 500 test near term resistance between 3,780 and 3,840.

Tom Essaye Quoted in Forbes on September 28, 2021

Dow Sinks 500 Points As Spiking Treasury Yields Drive Forceful Tech Stock Sell-Off

Yields on the 10-year Treasury shot up 3.5 basis points on Tuesday to their…market analyst Tom Essaye, president of Sevens Report Research, said in a note. Click here to read the full article.

Tom Essaye Quoted in Barron’s on July 21, 2021

Chipotle Rises, Netflix Falls, and the Dow Continues Rebounding

Futures are modestly higher thanks to continued momentum from Tuesday’s…writes Tom Essaye, founder of Sevens Report Research. Click here to read the full article.

Tom Essaye Quoted in Marketplace on May 26, 2021

The Dow at 125: Why it endures

That can tend to let the Dow be more volatile. It can also be skewed more by one stock, it gives you a glimpse of the economy that other indexes don’t. And the fact that companies…said Tom Essaye, president of Sevens Report Research. Click here to read the full article.

Tom Essaye Quoted in Barron’s on May 20, 2021

The Dow Rose 188 Points Because Tech Stocks Are Buys When Rates Fall

Going forward, investors should monitor the 10-year Treasury yield to see if it goes above 1.74%, wrote Tom Essaye, founder of Sevens Report Research in a note. That’s the bond’s recent closing high, “and if the 10-year yield breaks those levels we can…” Essaye wrote. Click here to read the full article.

Tom Essaye Quoted in StreetInsider.com on April 6, 2021


Penny Stocks, News, Momentum, Oh My!

Additionally, sentiment is positive as vaccinations in the U.S. and around the world continue. On Monday, the Dow closed with an over 374 point gain or 1.13%. Tom Essaye, the founder of Sevens Report Research, stated that “futures are modestly higher on momentum from…” Click here to read the full article.

Tom Essaye

Tom Essaye Quoted in MarketWatch on September 30, 2019

“On Saturday, the Treasury Department stated it’s not considering blocking Chinese companies from listing on U.S. exchanges ‘at this time,’ refuting the Bloomberg story from Friday, which caused the declines in stocks…” wrote Tom Essaye, president of the Sevens Report, in a note to clients. Click here to read the full article.

IT person in front on multiple screens

Tom Essaye Quoted in Barron’s on April 2, 2019

“Futures are flat and international shares were mildly higher overnight as yesterday’s sizeable rally in the U.S. was…” Click here to read the full article.

Tom Essaye Quoted in ETF Daily News on March 27, 2019

“We need global growth to stabilize to help propel stocks higher from here. The currency and bond markets continue to flash large and…” Tom Essaye, founder of The Sevens Report, said in a note. Click here to read the full article.

 

Sevens Report’s Tom Essaye quoted in Barron’s on December 12, 2018

Sevens Report’s Tom Essaye quoted in Barron’s on December 12, 2018. Read the full article here.