Jobs report preview, is the AAPL decline an opportunity for value stocks?, futures are down more than 1% as AAPL sharply cut Q4 revenue guidance, economically UK Construction PMI and Euro Zone Money supply both slightly missed expectations and more.
The Aussie-Yen points to further growth fears, S&P futures are tracking international shares lower to start the year this morning, the Chinese Caixin Manufacturing PMI Index fell 0.5% to 49.7 in December suggesting the world’s second largest economy is slipping into contraction. there is one economic report to watch: PMI Manufacturing Index and more.
Technical update, futures are lower and giving back about 1/3 of yesterday’s massive rally, the Trump administration is considering an executive order banning U.S. companies from using Huawei and ZTE products (both Chinese firms) and more.
More unforced errors, stock futures are bouncing modestly this morning, news flows were mostly quiet over the last 48 hours however President Trump did make supportive comments regarding Secretary Mnuchin after he spooked markets Monday and continued to blame the Fed for the recent selloff and more.
What’s in Today’s Report: Why We Could Be Close to a Bounce Futures are modestly lower following the surprise resignation of Defense Secretary Mattis. Mattis was seen as a stabilizing force in the administration, so his resignation is an incremental negative on general sentiment and that’s pressuring stocks this morning. Economically, Q3 British GDP met[…]
Technical Update: ugly breaks, S&P futures are bouncing this morning but only modestly so relative to yesterday’s sizeable declines in U.S. markets which weighed broadly on global shares overnight (although the losses were not as bad as feared), Oil is notably down almost 3% as concerns have shifted from the supply side to demand side in recent weeks, there is only one economic report to watch: Housing Starts (E: 1.22M) but if it is a “whiff” like yesterday’s Housing Market Index was, which hit a multi-year low, it could keep growth concerns elevated and prevent a material relief rally and more.
Today focus will be on the U.S. September PMI Composite Flash (E: 55.1), and as always we’ll be looking for stability in the economic data to imply this strong economy isn’t losing momentum, futures are little changed, economic data was slightly disappointing and more.
The Sevens Report is everything you need to know about the markets, in your inbox before 7am, in 7 minutes or less. Sign up now and get a free two-week trial. Below you’ll find six charts, spanning asset classes and economic data. The charts are divided up into two groups. Group 1 is comprised of[…]
The Sevens Report is everything you need to know about the market in your inbox by 7am, in 7 minutes or less. Claim your free 2-week trial. The S&P 500 has been largely “stuck” in the 2300-2400 trading range for nearly 10 weeks, despite a big non-confirmation from 10-year yields, modestly slowing economic data and political disappointment.[…]