Why Tech Is Outperforming Again
What’s in Today’s Report:
- Why Tech Is Outperforming Again
- A Correction to the “Is FAANGM Now GARP?” Section
- Consumer Confidence – Chart
Stock futures are trading modestly higher this morning while international markets are mixed as inflation and taper fears continue to ease ahead of key economic data due later in the week.
The only economic report overnight was the French Business Climate Indicator which came in at 107 vs. (E) 105 but the release did not materially move markets.
Today, there are no economic reports due to be released and just one Fed official is scheduled to speak: Quarles (10:00 a.m. and 3:00 p.m. ET).
There is a 5-Yr Treasury Note Auction at 1:00 p.m. ET and as has been the case for most of this year, any significant surprises in the results could move both stock and bond markets significantly, but that is less likely today given focus is on Friday’s inflation data.