The problem is that unlike 2013, the economy has an inflation problem, and the Fed is under enormous political pressure to rein in inflation…Tom Essaye of the Sevens Report noted. Click here to read the full article.
What’s in Today’s Report:
U.S. equity futures are sharply lower with global shares amid negative COVID headlines and surprise political drama in D.C.
Democratic Senator Joe Manchin unexpectedly rejected President Biden’s Build Back Better plan over the weekend, greatly reducing the odds of its passage which saw GS revise their Q1 growth outlook from 3% to 2%.
Meanwhile, in Europe, lockdown risks are on the rise as the spread of the Omicron variant of COVID-19 accelerates.
Looking into today’s session, it appears we are going to open deep in the red amid the combination of a deteriorating political landscape and surging Omicron fears.
There are no economic reports or Fed speakers on the calendar today however there is a 6-Month Treasury Bill auction at 11:30 a.m. ET, which is not something we typically monitor, but if we see a weak outcome, then short duration yields could spike higher, compounding last week’s fears of rate hikes beginning sooner than later which would weigh on stocks, potentially in a big way. Outside of that auction, markets will be focused on the Build Back Better headlines and the new prospects of tighter COVID restrictions, particularly in Europe as that would further weigh on the outlook for economic growth.
The metal has found “key technical support at $4.20…writes Tom Essaye, founder of Sevens Report Research. Click here to read the full article.
Ahead of the data, markets will want to see solid numbers but nothing so hot that it implies the economy…Tom Essaye, founder of Sevens Report Research, wrote. Click here to read the full article.
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, Sevens Report Research Founder, joins Yahoo Finance’s Brian Sozzi and Jared Blikre to discuss the latest market action. Click here to watch the full interview.
“Coronavirus cases are spiking and reopenings are being delayed, which at a minimum will impact earnings. The resurgence in coronavirus cases is raising concerns that the rebound may be short-lived as voluntary…” said Tom Essaye, founder of The Sevens Report. Click here to read the full article.
“Coronavirus cases are spiking and reopenings are being delayed, which at a minimum will impact earnings. The resurgence in coronavirus cases is raising concerns that the rebound may be short-lived as voluntary or potentially more…” said Tom Essaye, founder of The Sevens Report. Click here to read the full article.
“I think the market has priced in that April is probably the worst of the economic data,” explained Sevens Report Research founder Tom Essaye. “While it looks like the worst is behind us — which is great — we need to start to see…” Click here to read the full article.
“The oil market is sending a bold warning that economic growth may not recover nearly as quickly as some equity investors would hope…” wrote Tom Essaye, president of the Sevens Report, in a Tuesday note to clients. Click here to read the full article.
