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Why Have Stocks Dipped?

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What’s in Today’s Report:

  • Bottom Line: Why Have Stocks Dipped?
  • OPEC Meeting Preview

S&P futures were tentatively higher overnight amid mostly quiet news flows until another trade war “tape bomb” triggered rapid risk-off money flows over the last hour.

Speaking in London before this week’s NATO meeting, President Trump said that he “had no deadline” for a trade deal with China and he thought it might be “better to wait until after the election” to make a deal.

The comments lower the odds that a “phase one” deal is agreed upon before the Dec. 15 tariffs are due to go into effect.

In the wake of Trump’s comments this morning, focus will remain almost exclusively on the trade war and any further comments by the U.S. or reaction by China will move markets.

As far as the calendar goes, there is one economic report to watch: Motor Vehicle Sales (E: 17.0M) and there are no Fed officials scheduled to speak today.

Tom Essaye Quoted in ETF Trends on November 26, 2019

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“The market still expects a phase one deal that (most importantly) removes the threat of any further escalation in the trade war. But unless there is a material positive surprise, phase one is not going to include material existing tariff reductions…” said Tom Essaye, founder of The Sevens Report, in a note.

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Tom Essaye Quoted in CCN on November 22, 2019

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Tom Essaye of Sevens Report Research told CNBC that a sizeable crash could be coming for the stock market if talks devolve: If there’s not a China trade deal, you are going to see the S&P 500 go down 10% in a heartbeat. It’s going to fall fast. If the talks collapse this time…Click here to read the full article.

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Tom Essaye Quoted in Invest Records on November 11, 2019

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“Stocks hit fresh new highs last week on a familiar theme: Positive chatter/headlines on phase one of a U.S./China trade deal, while earnings and global data…” wrote Tom Essaye, president of the Sevens Report, in a Monday note to clients. Click here to read the full article.

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Tom Essaye Presented at Marine Bank on November 12, 2019

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Tom Essaye presented at Marine Bank, a fantastic community bank in Vero Beach, FL. He talked about 2020 recession risks.

They made a generous donation to the Els for Autism Foundation in honor of the event.

Tom Essaye at Marine Bank Presentation

Tom Essaye Quoted in CNBC on October 18, 2019

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“If corporate earnings show signs of resilience, especially by the U.S. consumer, then a run to new highs is by no means out of the question,” Tom Essaye, founder of The Sevens Report, said in a note…Click here to read the full article.

Tom Essaye Quoted in Yahoo Finance on September 27, 2019

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“The fact that the repos are still ongoing is a bit troubling for me. It makes me think that the Fed somehow or other has misjudged the liquidity needs…” Tom Essaye, who publishes investment newsletter The Sevens Report, told Yahoo Finance’s The First Trade. Click here to read the full article.

Tom Essaye Quoted in Barron’s on September 27, 2019

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“U.S./China trade talks are officially scheduled for October 10 and 11th and rhetoric from both sides remains positive ahead of the event. “At this point, a pretty comprehensive…” writes The Sevens Report’s Tom Essaye. Click here to read the full article.

Tyler Richey Quoted in MarketWatch on September 25, 2019

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U.S. supplies rose more than expected last week, though was “largely offset by the less-bearish to mildly bullish inventory statistics for the refined products…” said Tyler Richey, co-editor of Sevens Report Research. Click here to read the full report.

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Tom Essaye Quoted in Barron’s on September 20, 2019

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And maybe that’s because there’s still so much uncertainty out there regarding trade? Yes, the U.S. has exempted more than 400 goods from tariffs, and come as both the two sides get ready for October negotiations. “On U.S./China trade, the staffer meeting in preparation for the October meeting will continue, and absent any ‘real’ news today any chatter that’s positive on…” writes The Sevens Reports’ Tom Essaye. Click here to read the full article.

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