Tyler Richey Quoted in Barron’s on April 18, 2019. The $33 billion deal “refocused the energy markets on the U.S. shale industry…and Russia took notice as the nation’s finance minister…” Click here to read the full article.
“There’s not many people who are willing to short this market. We could be near a market top…” Tyler Richey quoted in Bloomberg. Click here to read the full article.
“It’s going to take something else to push the S&P 500 to new all-time highs. That was the main takeaway from last week…”
What would it take the push the market to new all-time highs? Tom Essaye quoted on Bloomberg to share his view on the market, U.S. – China trade, Fed and more. Read the full article here.
What to make up of this earnings season? Tom Essaye shares his view on the market and more with Yahoo Finance’s Seana Smith. Watch the full clip here.
What’s in Today’s Report:
Futures are modestly lower thanks to higher oil and new concerns about the longevity of Chinese economic stimulus.
The South China Morning Post released an article saying Chinese officials will again focus on structural economic reforms, which means limited future economic stimulus.
Oil is 2% higher following reports the Trump administration will not renew any Iranian import wavers.
Today there is only one economic report, Existing Home Sales (E: 5.30M), and that won’t move markets.
So, the key to trading today will be earnings, and here are the reports we’re watching: HAL ($0.23), KMB ($1.54), WHR ($3.04).
What is the health-care sector doing these days. Tom Essaye quoted in MarketWatch on April 17, 2019. He talks about this topic, earnings season and more. Read the full article here.
What’s in Today’s Report:
Futures are slightly lower following a night of mixed economic data.
EU flash composite PMIs missed estimates (51.3 vs. (E) 51.8) and that’s a disappointment given recent stabilization in China. But, not all the data was bad as UK Retail Sales rose 1.1% vs. (E) 0.2%, likely on Britons stocking up goods ahead of the hard Brexit deadline in late March.
Today is the eve of a three day weekend but it’s going to be busy as we get a lot of economic data and important earnings.
Important data today includes (in order of importance): PMI Composite Flash (E: 54.3), Retail Sales (E: 0.8%), Philly Fed (E: 10.2) and Jobless Claims (E: 206K). As we said in Monday’s report, the stronger the data, the better for stocks as there is no inflation threat right now (so good data won’t make the Fed hawkish).
On the earnings front, some releases we’ll be watching include: AXP ($2.00), PM ($1.00), SLB ($0.30) and HON ($1.83).
What’s in Today’s Report:
Futures are climbing higher this morning while international shares were little changed overnight as investors digested upbeat Chinese economic data against mixed earnings.
Chinese Industrial Production (8.5% vs. E: 6.0%), and Retail Sales (8.7% vs. E: 8.3%) both handily beat expectations in March helping Q1 GDP rise 6.4% vs. (E) 6.3%. But, stabilizing Chinese growth is largely priced in to the market at current levels which is why the reaction has been largely muted by international traders.
Looking to today’s calendar, there is one economic report to watch: International Trade (E: -$53.6B) and two Fed officials are scheduled to speak: Bullard (12:30 p.m. ET) and Harker (12:30 p.m. ET).
The main focus however will remain earnings. A few notables to watch include: MS ($1.17), PEP ($0.92) before the open and AA ($0.17) after the close.
Health care—the best-performing sector last year—is the worst-performing group in the S&P 500 this year. “The jury is still out on health care, earnings season isn’t going to provide enough clarity to…” Click here to read the full article.
