Why Situational Awareness News Could Be Positive for Tech/the Market
What’s in Today’s Report:
- Why Situational Awareness News Could Be Positive for Tech/the Market
Futures are solidly higher, led by tech, as strong Amazon earnings help extend yesterday’s sharp rebound in technology stocks.
Geopolitically, Iran launched new attacks on U.S. assets in Kuwait and Bahrain, pushing oil prices slightly higher as tensions remain elevated.
Economically, Eurozone HICP (CPI equivalent) met expectations at 2.9% y/y while South Korea’s KOSPI surged 17.9%, its best day on record.
Today, there are two notable economic reports to watch including Chicago PMI (E: 55.0) and Consumer Sentiment (E: 54.2). There are no Fed officials scheduled to speak today.
Finally, several notable earnings reports include XOM ($3.80), ABBV ($3.64), CVX ($5.80), AN ($5.43), ETN ($3.08), and D ($0.73).
Markets will be looking for stable economic data and another round of solid earnings to help extend the rebound in stocks.