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Two Themes to Watch in Looming AI Earnings

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What’s in Today’s Report:

  • Two Themes to Watch in Looming AI Earnings
  • What Is the Bab el-Mandeb and Why Is It a Problem?

Futures are modestly lower on rising geopolitical concerns and mixed tech earnings.

GOOGL earnings were solid but the company boosted capex spending plans, increasing concerns about future free cash flow and tech stocks are lower in response.

Geopolitically, Houthis attacked two Saudi ships in the Red Sea, further disrupting global oil transit (oil is up 4%).

Today the only notable economic report is Jobless Claims (E: 214K) and that shouldn’t move markets, so focus will remain on geopolitics (any progress at all towards a ceasefire will pressure oil prices and boost stocks) and on the reaction from tech stocks to mixed earnings (if tech stocks stay soft post GOOGL earnings it’ll weigh on the major indices).

Earnings season continues, meanwhile, and some important reports we’re watching today include: INTC ($0.21), NOK ($0.07), AAL ($0.03), BX ($1.32), LMT ($7.32), FCX ($0.60), RTX ($1.66).

 

Sevens Report Technicals

When sector volatility reaches levels only seen around 2000, 2001, and 2009, it deserves more than a passing glance. That’s exactly what we explore in this week’s Sevens Report Technicals.

Beyond the major indices, we examine where money is rotating beneath the surface, why Value continues to outperform Growth, how Treasury, credit, and volatility markets are either confirming or challenging the equity narrative, and what those signals could mean for portfolio positioning.

If you want to better understand whether this is simply another pullback or the beginning of a more meaningful shift in market leadership, click here to learn more about this week’s Technicals report and see why advisors rely on it to stay one step ahead.

 

Why Tech Declined Again

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What’s in Today’s Report:

  • Why Tech Declined Again
  • New and Notable ETFs

Futures are little changed despite more mixed tech earnings.

GOOGL reported solid results but slightly underwhelming guidance while QCOM outright disappointed and both stocks are lower as tech sentiment remains uncertain.

Today the calendar is busy with a Bank of England Rate Decision (E: No Change) and ECB Rate Decision (E: No Change) before the open.

Economically, we have two labor reports via Jobless Claims (E: 212K) and JOLTS (E: 7.25M) and they key here is stability (meaning no substantial deterioration).  There is also one Fed speaker, Bostic (10:50 a.m. ET), but he shouldn’t move markets.

Finally, earnings season continues and the key report today is AMZN ($1.98) and the market could really use a strong report this afternoon.  Other notable reports include: COP ($1.08), BMY ($1.15), CMI ($5.20), CI ($7.87),   RBLX ($-0.49).

 

The Companies Financing AI: Tom Essaye Interviewed on Yahoo Finance

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Tom Essaye joins Yahoo Finance to discuss Big Tech names financing artificial intelligence (AI) buildouts with debt

Google, Meta finance AI with debt: Why it’s ‘bullish’ for now

Sevens Report Research founder Tom Essaye, Yahoo Finance Senior Reporter Ines Ferré, and Yahoo Finance Senior Reporter Brooke DiPalma join Opening Bid host Brian Sozzi to discuss the Big Tech names financing artificial intelligence (AI) buildouts with debt.

Also, click here to view the full interview on Yahoo Finance published on November 3rd, 2025. However, to see the Sevens Report’s full comments on the current market environment sign up here.

If you want research that comes with no long term commitment, yet provides independent, value added, plain English analysis of complex macro topics, then begin your Sevens Report subscription today by clicking here.

To strengthen your market knowledge take a free trial of The Sevens Report.

Join hundreds of advisors from huge brokerage firms like Morgan Stanley, Merrill Lynch, Wells Fargo Advisors, Raymond James, and more! To start your quarterly subscription and see how The Sevens Report can help you grow your business, click here.

How the “Degenerate Economy” Can Help Us Navigate This Market

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What’s in Today’s Report:

  • How the Degenerate Economy Can Help Us Navigate This Market
  • ISM Manufacturing PMI Takeaways

U.S. stock futures are solidly higher this morning, led by tech shares with GOOGL up 6%+ after a favorable court ruling saw the company avoid severe antitrust penalties while international stocks were mixed as bonds steadied in the wake of an early week spike in yields.

Economically, the final Eurozone Composite PMI fell to 51.0 vs. (E) 51.1 in August due to a weak Services index revision but the data is not materially moving markets focused on renewed tech sector strength this morning.

Today, focus will be on economic data early as jobs week kicks off the July JOLTS report (E: 7.375 million) while Factory Orders data from July will also be released mid-morning (E: -1.4%).

There are two Fed speakers today: Musalem (9:00 a.m. ET) and Kashkari (1:30 p.m. ET). As far as stocks are concerned the more dovish their tone, the better as investors are pricing in a September rate cut with a high degree of certainty.

Finally, late seasons earnings continue to be released with quarterly reports from DLTR ($0.38), HPE ($0.36), M ($0.19), CPB ($0.57), CRM ($2.12), AEO ($0.20), and AI (-$0.81) all due out today.

 

What Would Stop the Bond Market Selloff?

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What Would Stop the Bond Market Selloff? Start a free trial of The Sevens Report.

What’s in Today’s Report:

  • What Would Stop the Bond Market Selloff? (Fundamental and Technical Perspectives)
  • October Flash PMI Takeaways – More Goldilocks Data (Chart)

Stock futures are trading lower as investors digest a mixed start to big tech earnings and a moderate rise in yields.

On the earnings front, GOOGL is down 6.75% this morning as cloud revenue missed estimates. While MSFT is up 3.30% amid a broadly positive quarterly earnings report bolstered by positive AI growth metrics.

Today, focus will be on economic data early with New Home Sales (E: 685K). From there focus will turn to the bond markets as there is a 5-Yr Treasury Note Auction at 1:00 p.m. ET that has the potential to move yields and impact equities (any further retreat in yields will be welcomed by investors).

Fed Chair Powell will be speaking after the close (4:35 p.m. ET). That is likely to result in some hesitation in the afternoon as traders position/hedge ahead of his post-close commentary.

Earnings season remains in full swing as well with quarterly results due from BA (-$3.05), TMO ($5.60), and GD ($2.87) this morning. While tech giants META ($3.62) and IBM ($2.12) report after the close.

What Would Stop the Bond Market Selloff?

Join hundreds of advisors from huge brokerage firms like Morgan Stanley, Merrill Lynch, Wells Fargo Advisors, Raymond James, and more! To start your quarterly subscription and see how The Sevens Report can help you grow your business, click here.