The “solid economic data in the U.S. and abroad” paired with phase one/phase two trade deal optimism helped fuel the rally from a fundamental standpoint. From a technical standpoint, recently strong upside momentum is creating a ‘chase’ higher effect, further lifting…” Tyler Richey, co-editor at Sevens Report Research wrote in Tuesday’s newsletter. Click here to read the full article.
Even so, “deeper production cuts were not the consensus expectation coming into this week’s OPEC+ meeting (only an extension of current policy) and if they are formally agreed upon tomorrow, that will be an incremental positive for the market in the near to medium term,” said Tyler Richey, co-editor at Sevens Report Research. Then “we could see WTI futures breakout…” Click here to read the full article.
“Trade war headlines have been the main driver of the energy markets, but since late last week, OPEC+ policy expectations, economic data, and inventory/production releases have…” said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.
“Considering that recession fears are based on a slowdown in manufacturing and business spending bleeding into the labor market and, ultimately, the consumer, it’s notable that claims are rising…” according to Tom Essaye, president of the Sevens Report, in a Monday note. Click here to read the full article.
The bearish supply and production data by the Energy Information Administration and “lack of clarity” on the U.S.’s plans for tariff policy changes as part of the phase one trade deal with China, are “both negative influences on the market…” said Tyler Richey, co-editor of Sevens Report Research. Click here to read the full article.
“Trade war concerns are being offset by positive comments on the global economy by both Fed Chair Powell and OPEC’s Secretary General Barkindo…” said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.
“It’s a fair critique of corporate earnings to say that earnings “growth” in 2019 is a bit deceptive as the value is being financially engineered by corporate finance departments, not organic, core-business growth. Companies aren’t making any more money than…” wrote Tom Essaye, president of the Sevens Report, in a Wednesday note to clients. Click here to read the full article.
Whether or not the performance of these cyclical stocks trading at cheap valuations can continue to lead the market depends on whether faith in an accelerating economy is correct. Tom Essaye, president of the Sevens Report, is not ready to endorse this view just yet. “In the last few days there have been hints of stabilization in the growth data, but just hints…” he wrote in a Tuesday note to clients. Click here to read the full article.
Meanwhile, the natural-gas market is “at the point in the year where the weather forecasts tend to take control…as speculators bet on how temperature trends will affect demand and ultimately supply levels,” said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.
The “dismal durable goods number is helping boost gold prices as recession fears are again on the rise,” said Tyler Richey, co-editor at Sevens Report Research…Click here to read the full article.
