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Tom Essaye – Staying Cautious With The Magnificent Seven Names Into Earnings. 

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One chart reveals why investors are concerned about earnings from Microsoft, Amazon, and other hyperscalers

“For me, it’s going to be about earnings with the Mag 7. It’s going to be about the capex number. What’s happening with free cash flow. And what is their guidance and how we turn all of this into real money sooner than later,” Sevens Report Research founder Tom Essaye said on Yahoo Finance’s Opening Bid.

Essaye is staying cautious about the Magnificent Seven names heading into earnings. 

Also, click here to view the full video published on Yahoo Finance on July 15th, 2026. However, to see the Sevens Report’s full comments on the current market environment sign up here.

If you want research that comes with no long term commitment, yet provides independent, value added, plain English analysis of complex macro topics, then begin your Sevens Report subscription today by clicking here.

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Tom Essaye Talks About Netflix with Yahoo Finance Executive Editor

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I think that this is a very smart move by Meta, Says Tom Essaye

Why Netflix is a lot less ‘compelling’ than these 2 media stocks

Sevens Report Research founder Tom Essaye chat with Yahoo Finance Executive Editor Brian Sozzi about why Netflix isn’t a compelling buy in the media/entertainment space.

You know, over the past couple of years, Netflix has pulled levers to increase profitability by cracking down on sharing, by introducing, you know, more aggressive advertising, that sort of thing. But in the end, they’re now kind of being driven by their show slate and as you said, they have not had a hit in a while and that’s a problem.

Now, certainly the decline makes it, you know, somewhat attractive maybe on a value basis, but I agree with Thomas, it’s a show me stock. You have to see that there’s some sort of a of a turnaround or something coming down the pike that you can get excited about.

I actually agree with you, Brian. I think if I’m going to allocate some dollars to entertainment and sort of content, I would prefer Disney.

Also, click here to view the full video published on Yahoo Finance on July 15th, 2026. However, to see the Sevens Report’s full comments on the current market environment sign up here.

If you want research that comes with no long term commitment, yet provides independent, value added, plain English analysis of complex macro topics, then begin your Sevens Report subscription today by clicking here.

To strengthen your market knowledge take a free trial of The Sevens Report.

Join hundreds of advisors from huge brokerage firms like Morgan Stanley, Merrill Lynch, Wells Fargo Advisors, Raymond James, and more! To start your quarterly subscription and see how The Sevens Report can help you grow your business, click here.

Tom Essaye and Yahoo Finance Opening Bid Panel Discuss Big Banks

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I think that this is a very smart move by Meta, Says Tom Essaye

Big banks see consumer holding up despite economic uncertainty

Yahoo Finance Executive Editor Brian Sozzi and his Opening Bid panel featuring guests: Globalt Investments senior portfolio manager Thomas Martin, Sevens Report Research founder Tom Essaye, and Yahoo Finance Senior Business Reporter Brooke DiPalma discuss what big banks are saying about consumer resiliency.

As long as the unemployment rate stays low. That’s the key to the whole sort of economic resiliency. That and the fact that the hyperscalers are just fire hosing hundreds of billions of dollars into all corners of the economy as they build out data centers as fast as they can. But the unemployment rate is low

And people can get jobs. And as long as that’s the case, then they’re going to be generally able to keep up, relatively speaking, with this inflation, and that’s been the key. The trouble is if that unemployment rate starts to rise or that people start to have a hard time finding jobs. That’s the lynch pin. As long as the unemployment rate stays low, then people can continue to stomach very high beef prices and egg prices and all the other things we’re having to deal with.

Also, click here to view the full video published on Yahoo Finance on July 14th, 2026. However, to see the Sevens Report’s full comments on the current market environment sign up here.

If you want research that comes with no long term commitment, yet provides independent, value added, plain English analysis of complex macro topics, then begin your Sevens Report subscription today by clicking here.

To strengthen your market knowledge take a free trial of The Sevens Report.

Join hundreds of advisors from huge brokerage firms like Morgan Stanley, Merrill Lynch, Wells Fargo Advisors, Raymond James, and more! To start your quarterly subscription and see how The Sevens Report can help you grow your business, click here.

Three Tests for the Rally This Week

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What’s in Today’s Report:

  • Three Tests for the Rally This Week
  • Weekly Market Preview: A Critical Week for Inflation, AI and the Fed
  • Weekly Economic Cheat Sheet: Inflation in Focus (and the Numbers Need to be Good)

Futures are modestly lower on rising geopolitical tensions after escalation of the U.S./Iran conflict over the weekend.

Iran attacked another commercial ship transiting the Strait of Hormuz prompting some of the most intense attacks from the U.S. since the start of the conflict.

Despite the escalation, however, oil is up a modest 3% and markets still believe both sides seek a ceasefire (which is why the markets aren’t down more on the news).

This is a busy week of data and earnings, but it starts slowly as there are no notable economic reports today and just two Fed speakers (Bowman (5:25 a.m. ET) and Waller (12:30 p.m. ET)) and they shouldn’t move markets.  Instead, focus will be on geopolitics and any reports of ceasefire progress will help stocks bounce.

 

Monthly Bitcoin/Crypto Market Updates

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What’s in Today’s Report:

  • Monthly Bitcoin/Crypto Market Updates

Futures are little changed following a quiet night of news as efforts are underway to restore the U.S./Iran ceasefire.

There were no direct U.S. attacks on Iran overnight and U.S. officials said the two sides were still working on re-establishing a ceasefire.

Economically, German HICP (their CPI) was the only notable report and it met expectations at 2.4% y/y.

Today focus will stay on geopolitics and any progress on reestablishing the U.S./Iran ceasefire will pressure oil and should help boost stocks.  From an economic standpoint, today is quiet but next week is not, as next week has the potential to impact markets in numerous ways (economic data, inflation and earnings).  More on that in Monday’s Report.

 

Tom Essaye Break Down Micron’s Earnings Beat With Yahoo Finance

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The most important part of the Micron earnings were really their referencing these strategic customer agreements, Says Tom Essaye

‘We don’t view this as a bubble’ that will pop soon: Wall Street weighs surging AI costs on stock market rally

Yahoo Finance Senior Business Reporter Ines Ferre and Sevens Report Research Founder Tom Essaye break down Micron’s (MU) earnings beat and stronger-than-expected guidance. They discuss how record revenue and growing demand for AI memory chips may boost confidence in the broader AI trade.

You know, over the past couple days, you’ve sort of the market has gotten itself in sort of a negative feedback loop, right? Saying is this sustainable? Can the spending continue? Is there enough capital to continue to fund all this? And Micron came out and basically said, yes, yes, there is. And that’s turning sentiment around. The most important part of the Micron earnings were really their referencing these strategic customer agreements.

The whole key around the memory boom, much like inflation honestly, is it a flash in the pan or is it sustainable? Micron is growing earnings at like hundreds and hundreds of percent, but the stock only trades at a 10X forward multiple. The S&P 500 trades at a 20X forward multiple and isn’t growing earnings nearly as fast. The reason Micron and Nvidia are cheap is because investors are concerned that this earnings boom won’t last. If earnings, if investors believe it will last, which Micron’s earnings helped, you know, reinforce that idea, then this market has a lot more room to run.

Also, click here to view the full video published on Yahoo Finance on June 25th, 2026. However, to see the Sevens Report’s full comments on the current market environment sign up here.

If you want research that comes with no long term commitment, yet provides independent, value added, plain English analysis of complex macro topics, then begin your Sevens Report subscription today by clicking here.

To strengthen your market knowledge take a free trial of The Sevens Report.

Join hundreds of advisors from huge brokerage firms like Morgan Stanley, Merrill Lynch, Wells Fargo Advisors, Raymond James, and more! To start your quarterly subscription and see how The Sevens Report can help you grow your business, click here.

June MMT: Positive News vs. Stretched Valuations

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What’s in Today’s Report:

  • June Market Multiple Table: Positive News Drives Stocks Higher, But Valuations Are Stretched

Futures are higher as the tech-led rebound in the wake of Friday’s market rout continues amid AI earnings optimism and easing geopolitical angst as President Trump reiterates a peace deal with Iran is imminent.

Economically, the NFIB Small Business Optimism Index fell a slight -0.6 points to 95.3 vs. (E) 96.0 in May but the modest “miss” is helping the bond market stabilize which is helping stocks recover.

Looking ahead to today’s session, there are two economic releases to watch: International Trade in Goods (E: $-55.5B) and Existing Home Sales (E: 4.08 million) although neither is likely to move markets with CPI looming large tomorrow.

There are no Fed speakers today as policy makers remain in their pre-meeting “blackout period,” but the Treasury will hold auctions for 6-Week & 52-Week Bills at 11:30 a.m. ET and 3-Yr Notes at 1:00 p.m. ET that could shed light on bond trader sentiment, and if yields rise on weak auction demand, expect the equity rebound to lose steam (surging yields were one of the major negative catalysts on Friday).

Finally, on the earnings front, a handful of companies are due to report late season quarterly results including ASO ($0.83), UNFI ($0.81), and CBRL (-$0.38) but again, near-term focus will remain on tomorrow’s CPI release, geopolitics, and bond yields.

 

Jobs Day

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What’s in Today’s Report:

  • Jobs Day
  • Is AI Friend or Foe to the Labor Market?

Futures are modestly lower mostly on continued tech weakness following AVGO’s disappointing earnings and after a mostly quiet night of news.

Tech stocks are extending Thursday’s post AVGO earnings driven declines and that’s weighing on futures although nothing newly negative occurred overnight.

Economically, the only notable report was Q1 Eurozone GDP which missed estimates (0.3% vs. (E) 0.8%).

Today focus will be on the jobs report and expectations are as follows: 85K Job-Adds, 4.3% Unemployment Rate and 3.4% y/y Wage Growth.  The “best case” scenario is a Goldilocks number with above expectations job adds and unemployment and wages that meet or slightly beat expectations, as that will imply a stable labor market but not one that is putting upside pressure on inflation.

 

We’re Not Seeing The Type of P/E Surge You’d Expect Says Sevens Report Analysts

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Notably, this is just what we saw with semiconductors starting three years ago, Sevens Report Analysts.

The ‘Insatiable’ Logic Behind Micron’s ‘Extreme’ Gains

“We’re not seeing the type of P/E surge you’d expect given the rallies, because earnings are rising faster than the share prices (notably, this is just what we saw with semiconductors starting three years ago),” wrote analysts at Sevens Report in a research note.

“While the gains have been extreme in the near term, the reality is they are being fueled by insatiable demand that likely won’t end unless the hyperscalers abandon the AI data center buildout (and that’s not likely to happen in the next 12-18 months),” wrote the Sevens Report analysts.

Also, click here to view the full article published in Barron’s on May 27th, 2026. However, to see the Sevens Report’s full comments on the current market environment sign up here.

If you want research that comes with no long term commitment, yet provides independent, value added, plain English analysis of complex macro topics, then begin your Sevens Report subscription today by clicking here.

To strengthen your market knowledge take a free trial of The Sevens Report.

Join hundreds of advisors from huge brokerage firms like Morgan Stanley, Merrill Lynch, Wells Fargo Advisors, Raymond James, and more! To start your quarterly subscription and see how The Sevens Report can help you grow your business, click here.

Oil and Inflation (Worse Than You Might Think)

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What’s in Today’s Report:

  • Oil and Inflation (Worse Than You Might Think)

Futures are little changed following a quiet night of news as earnings were solid overnight and investors remained optimistic about a U.S./Iran ceasefire.

There was no incremental progress on a U.S./Iran ceasefire overnight but investors ultimately expect a deal in the near term.

Earnings have been the driver of this recent rally and results overnight were solid, highlighted by WDAY (up 8%).

Econ Today: Consumer Sentiment (E: 48.2, 1-Yr Inflation Expectations: 4.5%), Leading Indicators (E: -0.3%).  Fed Speak: Waller (10:00 a.m. ET).

Focus today will be on geopolitics and any tangible progress towards a U.S./Iran ceasefire will further pressure oil and boost stocks.

Away from geopolitics, the key economic report today is the five-year inflation expectations in the University of Michigan Consumer Sentiment report.  Inflation expectations above 3.0% and closer to 4.0% will make the Fed more hawkish and increase rate hike chances, so the closer to 3.0% in that number, the better.