Tom Essaye Quoted in Barron’s on July 30, 2021
Amazon Sinks, Chevron Pops, and the Nasdaq Is Down
Futures are moderately lower on disappointing earnings…wrote Tom Essaye, founder of Sevens Report Research. Click here to read the full article.
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Tom Essaye Quoted in Barron’s on July 21, 2021
Chipotle Rises, Netflix Falls, and the Dow Continues Rebounding
Futures are modestly higher thanks to continued momentum from Tuesday’s…writes Tom Essaye, founder of Sevens Report Research. Click here to read the full article.
Tom Essaye Quoted in Barron’s on July 22, 2021
CSX Rises, Las Vegas Sands Falls, and Stocks Are Wavering
Futures are marginally higher following another night of…writes Tom Essaye, founder of Sevens Report Research. Click here to read the full article.
Why Did Stocks Rally?
What’s in Today’s Report:
- Why Did Stocks Rally?
Futures are modestly higher thanks to continued momentum from Tuesday’s rebound combined with solid earnings reports.
Earnings overnight were good and importantly companies like CMG and UAL said the increase in COVID cases was not hurting business, which helped reassure markets that the Delta variant isn’t changing consumer’s behavior.
There were no economic reports overnight and there are no economic reports later today, so focus will remain on earnings and COVID trends. If earnings are solid and commentary remains upbeat, and we don’t get any negative COVID headlines, then the rebound can continue today.
Some earnings we’ll be watching today include (in order of importance): TXN ($1.82), JNJ ($2.28), KO ($0.57), VZ ($1.29), STX ($2.87), LVS (-$0.19), CSX ($0.37), DFS ($3.58).
Tom Essaye Quoted in Barron’s on July 12, 2021
Virgin Galactic Soars, Rocket Cos. Drops, and Stocks Are Mostly Lower
Futures are slightly lower following a very quiet weekend of news as markets wait for…writes Tom Essaye, founder of Sevens Report Research. Click here to read the full article.
What’s the State of Infrastructure?
What’s in Today’s Report:
- What’s the State of Infrastructure?
Stock futures are little changed near all-time highs in quiet trading this morning as concerns about the “Delta” variant of COVID-19 linger while investors look ahead to fresh economic data in the U.S.
Economically, Japanese Unemployment edged up to 3.0% in May from 2.8% in April but Retail Sales topped estimates while Eurozone June Economic Sentiment met expectations.
Looking into today’s session, there are two reports on real estate prices due this morning: Case-Shiller Home Price Index (E: 1.2%) and FHFA House Price Index (E: 1.0%), before the more important release on Consumer Confidence (E: 118.8) is due out shortly after the bell.
There is also one Fed officials scheduled to speak: Barkin (9:00 a.m. ET) but as long as there is not a notable hawkish shift in tone, the commentary should not impact stocks.
That will leave investors focused on any news or developments regarding the “Delta” variant of COVID-19, specifically if any government imposes new lockdowns as a result and infrastructure negotiations.
Tom Essaye Quoted in Barron’s on June 17, 2021
Ford Pops, Winnebago Drops, and Stocks Are Down as Markets Digest the Fed
Futures are modestly lower as markets digest yesterday’s more…writes Tom Essaye, founder of Sevens Report Research. Click here to read the full article.
Sevens Report Co-Editor Tyler Richey Quoted in Market Watch on June 8, 2021
Oil futures climb back to more than 2-year highs, with U.S. prices above $70 a barrel
The market just had a strong feel to it once things stabilized after an early session washout to the downside. It’s almost as if the overnight run to… said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.
Inflation Expectations Dashboard
What’s in Today’s Report:
- Sevens Report Inflation Expectations Dashboard
- Chart: Gold Holds Key Trend Support
Stock futures are wavering between gains and losses this morning as traders digest mixed economic data and look ahead to a key inflation report due later in the week.
Economically, Japanese GDP was not as bad as feared in Q1 but German Industrial Production missed estimates as did the U.S. NFIB Small Business Optimism Index which is weighing modestly on sentiment this morning.
There are two economic reports to watch in the U.S. today: International Trade in Goods and Services (E: -$69.0B) and JOLTS (E: 8.045M). The latter will be the more important to watch as investors continue to look for clues regarding the state of the labor market recovery.
No Fed officials are scheduled to speak today however there is a 3-Yr Treasury Note auction at 1:00 p.m. ET and a weak outcome could rekindle taper fears with Thursday’s CPI report coming into focus.
Jobs Report Preview
What’s in Today’s Report:
- Jobs Report Preview: Two Sided Risks for the Market
Futures are modestly lower following mixed economic data while the Fed announced it’s winding down one of its pandemic era support programs.
Service PMIs for May were mixed as the Chinese PMI missed estimates while the EU & British PMIs were in-line with expectations, but none of the data is altering the expectation that the global economic recovery is on going.
The Fed announced it’s going to start selling assets from the “Secondary Market Credit Facility” which was the program the Fed used to buy corporate bonds to stabilize markets during March/April of 2020. This has nothing to do with QE, but it is a general reminder that we are seeing central banks removing market support as society returns to normal, and it’s a tangential reminder that tapering of QE is coming at some point.
Today’s focus will be on economic data as we get several notable reports today: ISM Services PMI (E: 63.1), Jobless Claims (E: 400k), and ADP Employment (627k). Generally speaking, markets will want to see “Goldilocks” data from all three reports – close to or better than expectations but not so good they make the Fed think more about tapering. We also have three Fed speakers: Bostic (12:30 p.m. ET), Harker (1:50 p.m. ET), and Quarles (E: 3:05 p.m. ET) but none of them should move markets.