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Market Multiple Table Chart: Similarities to March 2025

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What’s in Today’s Report:

  • Market Multiple Table Chart: Similarities to March 2025

Futures are little changed as markets digest the rise in oil and as there were no material new attacks on oil infrastructure overnight.

Rhetoric from both sides (U.S. and Iran) continue to downplay the chances for a cease-fire in the near term.

Economically, EU Industrial Production missed estimates (-1.5% vs. (E) 0.5%) but that’s not moving markets.

Today focus will remain first and foremost on geo-political headlines and we can expect stocks to continue to trade inversely to the price of oil.

Beyond geopolitics, there are several notable economic reports today including, in order of importance, Core PCE Price Index (E: 0.4% m/m, 3.0% y/y), JOLTS (E: 6.75 million), Durable Goods (E: 0.5%), Final Q4 GDP (E: 1.4%) and Consumer Sentiment (E: 56.2).  If Core PCE and the growth data are better than expectations, that will help support this market.

 

Market Multiple Table Chart (Key Support and Resistance Levels to Watch)

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What’s in Today’s Report:

  • Market Multiple Table Chart (Key Support and Resistance Levels to Watch)

Futures are modestly lower on rising geopolitical tensions.

Numerous reports overnight stated a U.S. attack on Iran could occur as early as this weekend, which boosted oil prices and weighed modestly on futures.

Today will be a busy day of economic data and earnings, in addition to watching any geopolitical headlines on Iran.

Economically,  the key reports today are (in order of importance) Jobless Claims (E: 225K), Philly Fed (E: 7.7) and Pending Home Sales (E: 2.5%).  We also get numerous Fed speakers including Bostic (8:20 a.m. ET), Bowman (8:30 a.m. ET), Kashkari (9:00 a.m. ET) and Goolsbee (10:30 a.m. & 2:30 p.m.  ET).

Finally, on the earnings front, the two key reports today are: DE ($1.92), and WMT ($0.73) and the stronger the results, the better for stocks.

 

January Market Multiple Table Chart

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What’s in Today’s Report:

  • Market Multiple Table Chart

Futures are modestly higher mostly on momentum from Thursday’s rally and following a quiet night that was devoid of any material earnings or economic data.

Oil is higher by 1% on reports the U.S. is moving military assets back into the Mid-East, implying the chances of a strike on Iran did not decrease as much as thought.

Today there are two economic reports, Industrial Production (E: 0.1%) and Housing Market Index (E: 40) as well as two Fed speakers: Bowman (11:00 a.m. ET) and Jefferson (3:30 p.m. ET), but barring a major surprise, none of that should move markets ahead of the long weekend.

Instead, focus will stay on Washington and any reports, headlines or social media posts that 1) Imply more attacks on the Fed or 2) Hint at military action in Iran, Greenland, Mexico, etc. will weigh on stocks.

Finally, on the earnings front, the week has been mostly focused on bank results and that continues this morning with several regional reports: PNC ($4.23), STT ($2.82), RF ($0.61), MTB ($4.44).