Why Yesterday’s Data Was Worse Than the Market Reaction
Why Yesterday’s Data Was Worse Than the Market Reaction: Start a free trial of The Sevens Report.
What’s in Today’s Report:
- Why Yesterday’s Data Was Worse Than the Market Reaction
Futures are seeing a mild bounce despite mixed inflation data and disappointing tech earnings overnight.
The global decline in inflation was again challenged overnight as French HICP was slightly hotter than expected.
ADBE posted solid earnings but underwhelming guidance and the stock is down 12% pre-market, weighing on the tech sector.
Today focus will remain on economic data and if there are more hints of “stagflation” (underwhelming growth and solid price pressures) expect declines from stocks. Key reports today include, in order of importance: Empire State Manufacturing Index (E: -8.0), 1-Yr/5 yr Inflation Expectations (E: 3.0%/2.9%), Industrial Production (E: 0.0%) and Consumer Sentiment (E: 77.3).
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