Market Outlook (After the Bounce), weekly economic cheat sheet (important first looks at January data), weekly market preview (all about earnings), futures, Chinese exports badly missed expectations and more.
Tom Eassye was quote in MarketWatch on January 10, 2019. He warns clients in a Thursday note that the technicals don’t look good for stocks in the medium term, even as he sees the short-term path of least resistance going higher.
Why I’m buying some stock in my IRA today, weekly economic cheat sheet, weekly market preview, futures are seeing a modest oversold bounce, if there is a “reason’ for this modest bounce in futures it was the administration trying to reassure investors over the weekend and more.
Sevens Report’s Tom Essaye quoted in Bloomberg on December 2, 2019
Sevens Report’s Tom Essaye appeared on Cheddar on December 12, 2018. He breaks down how Trump’s optimism on trade talks, and impacted the markets.
FOMC preview, US stock futures are enjoying a pre-Fed bounce this morning, despite the bounce in futures, news flows were actually bearish since yesterday’s close as both FDX and MU made cautious comments about slowing global growth in their respective earnings calls and both cut guidance for 2019, In the US today, there is one economic report due to be released: Existing Home Sales (E: 5.190M) and a “beat” would be well received after the string of soft housing data points of recent, but frankly all eyes will be on the Fed and the report will not materially move markets, and more.
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.
A new headwind on stocks (it’s potentially a big one), it’s not all bad – a legitimate positive scenario for Q1 ‘19, weekly market preview, weekly economic cheat sheet and more.
Political risks to this market, futures are sharply lower (about 1%), Chinese Retail Sales (8.1% vs. (E) 9.0%) and Industrial Production (5.4% vs. (E) 5.9%) both badly missed estimates, geopolitically it was a quiet night although Chinese officials confirmed the reduction of auto tariffs to 15% from 40% (this was already pledged but it is good to see it will be enacted on Jan 1.) and more.
Dow Theory: first bearish signal since July 2015, futures are enjoying a bounce this morning, there is only one economic report: PPI (E: 0.0%) however inflation has been an important topic recently and a material “miss” or “beat” could move markets and more.