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Sevens Report Analysts Quoted in Market Watch on August 31st, 2022

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Oil futures end lower, with economic jitters fueling a more than 9% monthly loss for U.S. prices

All of yesterday’s news flow was digested as bearish for oil as the threat of OPEC+ cuts were reduced, demand estimates in Europe were adjusted lower on poor data while ‘hot’ data in the U.S. added to already hawkish money flows that bolstered the dollar and further pressured oil, wrote analysts at Sevens Report Research, in a note. Click here to read the full article.

Sevens Report Co-Editor Tyler Richey Quoted in Market Watch on August 26th, 2022

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Grass-roots group urges U.K. public to stop paying energy bills. Its campaign has drawn over 100,000 supporters.

If one million households in the U.K. didn’t pay their utility bills, I have to assume the respective utility companies would eventually cut power to those homes and that would actually ease some of the demand pressures on the grid which is expected to be strained this winter given the very low flows from Russia to Europe…Tyler Richey, co-editor at financial research firm, Sevens Report Research, told MarketWatch. Click here to read the full article.

Sevens Report Co-Editor Tyler Richey Quoted in Morningstar on August 25th, 2022

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Oil futures post first loss in 3 sessions

However, from a fundamental standpoint, any production cuts would be aimed at offsetting the return of Iranian barrels to the global market and not a material new bullish catalyst…said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.

Sevens Report Analysts Quoted in Market Watch on August 22nd, 2022

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Gold down a 6th session in a row as a strong dollar weighs on precious metals

If the dollar and Treasury yields continue to trend higher, it is only a matter of time before gold retests the 2022 lows…analysts at Sevens Report Research wrote in Monday’s newsletter. Click here to read the full article.

What Powell’s Speech Means for Markets

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What’s in Today’s Report:

  • What Powell’s Speech Means for Markets
  • Weekly Market Preview:  Are Central Banks Getting More Hawkish?
  • Weekly Economic Cheat Sheet:  How Strong is Growth (Jobs Report on Friday)

Futures are down close to 1% on follow through selling from Friday as hopes of a near term “Fed Pivot” continue to fade in reaction to Powell’s speech last week.

European shares are also sharply lower as tightening expectations for the ECB rose sharply on Friday.  Markets are now pricing in a minimum 50 bps hike next week with a 75 bps hike a real possibility.

There were no notable economic reports overnight.

Markets dropped on Friday as Powell dismissed the idea of an imminent “Fed Pivot,” but the ECB also signaled more hawkish intentions on Friday, and it was the two events that combined to cause the ugly declines.  Today there are no economic reports but there is an important Fed speaker, Brainard (2:15 p.m. ET) and if she echoes Powell’s comments from Friday, expect more losses in stocks.

Tom Essaye Quoted in Barron’s on August 9th, 2022

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Oil Earnings Outlook Dims. Blame Cheaper Oil.

For oil’s drop, it’s mostly a demand story. If you see oil move into the high to mid 70s, people are going rethink the idea that these companies are cash flow-generating machines, Essaye said. Click here to read the full article.

Sevens Report Analysts Quoted in The Market Herald on August 5th, 2022

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ASX Today: Cautious start as traders await US jobs report

Demand concerns are now the dominant influence on the global energy market and even though supply worries will persist with the Russia-Ukraine war, we will need to see evidence of demand stabilizing for the oil market to begin to find a near-term bottom,” analysts at Sevens Report Research wrote. Click here to read the full article.

Sevens Report Analyst Quoted in Market Watch on August 4th, 2022

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Oil rout deepens as U.S. crude benchmark finishes below $90 a barrel for first time since February

Demand concerns are now the dominant influence on the global energy market and even though supply worries will persist with the Russia-Ukraine war, we will need to see evidence of demand stabilizing for the oil market to begin to find a near-term bottom,” wrote analysts at Sevens Report Research, in a note. Click here to read the full article.

The Latest on Taiwan and China

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What’s in Today’s Report:

  • The Latest on Taiwan and China
  • JOLTS Decline But Remain Historically Elevated
  • Big One-Day Reversal in the 10-Year Yield: Chart

Stock futures are trading cautiously higher this morning as geopolitical angst is easing after Pelosi’s departure from Taiwan while economic data was mostly positive overnight.

Chinese and EU Composite PMIs for July topped estimates while Eurozone PPI was no worse than feared and that data is helping some of the hawkish fears from Tuesday unwind.

Looking into today’s session, earnings season is beginning to wind down but there are still a few notable reports due out today: MRNA ($4.50), CVS ($2.16), YUM ($1.08), HOOD (-$0.36), EBAY ($0.89), and MGM ($0.24).

However, the market’s main focus will be on economic data today with ISM Services Index (E: 53.0) and Factory Orders (E: 1.1%) both due out shortly after the open while there is one Fed speaker: Harker (10:30 a.m. ET).

Investors will want to see still solid growth numbers in the data, further easing in inflation readings, and hopefully a less hawkish tone out of the Fed if the July relief rally is going to extend into August.

Sevens Report Analyst Quoted By FXDailyReport on July 27th, 2022

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Crude Oil Rallies After Larger-Than-Expected US Supply Withdrawal

Our technical view of oil has now shifted from cautiously bullish to neutral with rising risks to the downside, especially after WTI closed below that aforementioned support at the March and April double bottom lows ($95.18) for a second time in a week yesterday. Wrote analysts at Sevens Report Research, in a note. Click here to read the full article.