Bottom line for oil, futures just notched their eighth-consecutive weekly rise and prices are technically…the Sevens Report analysts said. Click here to read the full article.
The issues that caused the pullback have quieted over the past two weeks, which has…wrote Tom Essaye, a former Merrill Lynch trader who founded “The Sevens Report” newsletter. Click here to read the full article.
The “risk-off money flows” that are hitting the U.S. stock market on Tuesday also dragged crude and other…Tyler Richey, co-editor at Sevens Report Research, told MarketWatch. Click here to read the full article.
From a futures market standpoint, bullish energy calls from big banks including Goldman Sachs and major oil traders like…said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.
Both oil and natural gas are expected to continue higher in the months ahead as fundamentals decidedly favor…said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.
What’s in Today’s Report:
Futures are moderately higher as the rally continued overnight as China injected more liquidity into their economy.
Chinese officials injected another 17 billion yuan into the economy to prevent any liquidity issues, as it’s now clear that Chinese officials won’t allow a disorderly default (and that’s really all global markets care about).
Economic data disappointed as both the EZ and UK flash composite PMIs missed expectations (EZ PMIs fell to 56.1 vs. (E) 58.9 while UK PMI dropped to 54.1 vs. (E) 54.7).
Focus today will be on economic data, specifically the Flash Composite PMI (E: 55.5) and Jobless Claims (E: 309K). Markets will want to see both numbers confirm what the Philly Fed and Empire survey implied last week, namely that the surge in COVID cases was a temporary and limited headwind on the economy. If that’s the case the rebound in stocks should continue.
What’s in Today’s Report:
Futures are modestly higher following potentially positive news out of China.
First, on the geopolitical front, Biden and Xi held a call on Thursday night where they discussed avoiding conflict. Second, Chinese regulators clarified they just slowed video game approvals, not halted them and that’s helping Chinese tech and internet stocks to rally.
On COVID, Biden’s mask mandates are getting a lot of headlines but they won’t have any direct market implications.
Today’s focus will be on PPI (E: 0.6%, 8.3%), which will give us the latest insights into inflation and if the number is materially higher than estimates, it will likely cause some mild volatility. We also have one Fed speaker, Mester at 9:00 a.m. ET, and markets will look for confirmation that the Fed will start tapering QE this year, but it will be gradual.
How demand expectations change in the wake of the storm will depend…said Tyler Richey, co-editor at Sevens Report Research, according to MarketWatch. Click here to read the full article.
The group’s leadership reiterated commitment to stable market conditions and flexibility in…Tyler Richey, co-editor at Sevens Report Research, told MarketWatch. Click here to read the full article.
What’s in Today’s Report:
Futures are moderately higher following a very quiet night of news as investors position for tomorrow’s jobs report.
Euro Zone PPI was much hotter than expected, rising 2.3% vs. (E) 1.2%, and that is the second consecutive strong inflation number from the EU.
There were no new infrastructure or COVID headlines overnight, and investors continue to add exposure ahead of an anticipated “Goldilocks” jobs report.
Today’s focus will be on economic data, especially Jobless Claims (E: 350K) and Unit Labor Costs (which is contained in Productivity & Costs). Unit Labor Costs are expected to rise 1.0% but if the number comes in decidedly higher than that, it will add to inflation fears (and could be a mild headwind on stocks today).
