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Key Summer Market Events (Inflation Today, Fed Tomorrow)

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What’s in Today’s Report:

  • Key Summer Market Events Part 1:  Inflation
  • EIA Analysis and Oil Market Update

Futures are slightly lower following a generally quiet night of news, although on the margin markets are seeing global central banks get less dovish.

On Wednesday, the Reserve Bank of New Zealand had hawkish commentary, while overnight the Bank of Korea hinted at a rate hike before year-end.  Neither the Reserve Bank of New Zealand nor the Bank of Korea will move markets, but the bottom line is we are seeing a global rising tide of “less dovish” central bank policy, and that’s likely to cause volatility as we move forward throughout the year.

There was no market moving economic data overnight.

Today we get several notable economic reports including (in order of importance): Jobless Claims (E: 450K), Durable Goods (E: 0.7%), Revised Q2 GDP (6.5%), and Pending Home Sales (E: 2.0%).  Bottom line, markets will want to see solid, but not “Too Hot” economic data, and if we get that result the data should help stocks rally today.

Sevens Report Co-Editor Tyler Richey Quoted in MarketWatch on April 19, 2021

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Oil prices gain as traders mull demand cues, supply prospects

There is some chatter about demand concerns “with new lockdown measures being imposed in India and other COVID-19 hotspots around the globe, however…” Tyler Richey, co-editor at Sevens Report Research, told MarketWatch. Click here to read the full article.

Tom Essaye Interviewed with TD Ameritrade on January 5, 2021

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Tom Essaye intereviewed with Ben Lichtenstein from TD Ameritrade, discussing the recent oil rally, solar sector, Goldman Sachs and more. Click here to watch the full interview.

Sevens Report Co-Editor Tyler Richey Quoted in MarketWatch on December 11, 2020

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Overall, the fundamental backdrop for the oil market is “mixed with ominous coronavirus trends being offset by vaccine optimism, while faltering economic growth…” said analysts in the latest Sevens Report Research newsletter. Click here to read the full article.

Sevens Report Co-editor Tyler Richey Quoted in MarketWatch on November 5, 2020

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On balance, the supply data Wednesday were “bullish for energy as oil stockpiles and production fell while…” analysts at Sevens Report Research wrote in Thursday’s newsletter. Click here to read the full article.

Sevens Report Co-editor Tyler Richey Quoted in MarketWatch on July 23, 2020

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“Oil has shown resilience this week” with WTI prices just shy of multi-month highs thanks, in part, to “optimism that a COVID-19 vaccine will eventually help the global economy normalize…” said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.

Sevens Report Co-Editor Tyler Richey Quoted in MarketWatch on June 15, 2020

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“Looking ahead, we expect some consolidation in oil prices here as economic data has been largely better than feared, while the future remains very uncertain regarding the prospects of a ‘second wave’ that could cripple the energy supply…” said Tyler Richey, co-editor at Sevens Report Research.

Oil Pipe line

Sevens Report Co-editor Tyler Richey Quoted in MarketWatch on May 19, 2020

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Futures prices traded in contango last month, when the May contract settled at a negative price on April 20, a day ahead of its expiration. “There was limited refinery demand and clearly…” said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.

Sevens Report Co-editor Tyler Richey Quoted in Hellenic Shipping News on April 27, 2020

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Despite the drop in active rigs, the EIA on Wednesday showed domestic oil production “perfectly unchanged” at 12.2 million barrels per day, “relative to the corresponding…” said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.

Tyler Richey

Tom Essaye Quoted in CNBC on April 24, 2020

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“Looking ahead, it’s still all about demand for oil right now, and so far there is little evidence to support the idea…” said Tom Essaye, founder of The Sevens Report. Click here to read the full article.

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