Tom Essaye Quoted in Market Watch on July 17th, 2023
Why U.S. stock-market investors shouldn’t expect positive economic data to push S&P 500 materially higher
While it’s undeniable that fears of a hard landing, inflation and hawkish Fed have not materialized, the reality is that the current level of the S&P 500 largely factors all of that in, so last week’s CPI and PPI reports didn’t provide the market with a new positive catalyst, but instead just reinforced what was already widely assumed,” Tom Essaye, founder of Sevens Report Research, wrote in a Monday note. Click here to read the full article.
