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Why Stocks Have Dropped

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What’s in Today’s Report:

  • Why Are Stocks Dropping?
  • Nasdaq Composite Chart: Below the 100 Day Moving Average

U.S. futures are rebounding with global shares after the U.K. decided against new lockdown measures due to Omicron while there is renewed hope for Biden’s spending bill.

Reports of a late Sunday call between Biden and Manchin, after Manchin announced that he would not support the bill on live TV, have revived hopes for the potential passage of Build Back Better in the weeks ahead.

The German GfK Consumer Climate Index fell to -6.8 vs. (E) -2.5 for January which points to a further deterioration in consumers’ outlook for income and spending in Europe’s largest economy.

There are no economic reports and no Fed officials speak today which will leave traders focused on the political drama surrounding Build Back Better and any new developments about Omicron and subsequent economic lockdown measures.

The one potential catalyst on the calendar is a 20-Yr Treasury Bond auction at 1:00 p.m. ET. A weak auction could send yields higher which could add renewed pressure on high multiple tech names and cause the major indexes to roll over.

Tom Essaye Quoted in Nasdaq.com on December 10, 2021

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History Proves That Rate Hikes Don’t Have to Dent Stocks

While the market will likely remain volatile near term, there’s no reason yet to think that stocks can’t….says Essaye of the Sevens Report. Click here to read the full article.

Tom Essaye Quoted in Yahoo Finance on September 29, 2021

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Time to Short Nasdaq With These Inverse ETFs?

Really what you’re seeing is, across asset classes, the market is adopting a pro-cyclical view, which means better growth in the future…Tom Essaye, The Sevens Report Research Founder, told Yahoo Finance Live. Click here to read the full article.

Tom Essaye Quoted in Barron’s on July 30, 2021

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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.

Tom Essaye Quoted in Bloomberg on May 23, 2021

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Nasdaq 100 Rallies 2% as Inflation Concerns Ebb: Markets Wrap

Inflation fears will remain a headwind for stocks until it becomes clear that price pressures are temporary. “Until then, expect a more volatile market, but at this point, strong policy support for…” Tom Essaye, a former Merrill Lynch trader who founded “The Sevens Report” newsletter. Click here for the full article.

Sevens Report’s Tom Essaye quoted in Nasdaq on November 20, 2018

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Sevens Report’s Tom Essaye quoted in Nasdaq on November 20, 2018. Read the full article here.