The precious metal’s relatively quiet price action may wind up being the calm before the storm of a…said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.
What’s in Today’s Report:
Futures are slightly higher following a quiet weekend and ahead of the most important week of earnings season.
Regarding Fed tapering, Powell’s comments on Friday were taken as slightly hawkish, but the consensus outlook remains a November taper at $15 bln/month.
There was no notable news/progress from Washington over the weekend on the debt ceiling/spending bill.
Today there are no notable economic reports or Fed speakers (they’re entering the “quiet period” ahead of next week’s meeting). So, focus will be on any updates from Washington on whether or not we get tax hikes and on earnings, although the vast majority of the biggest companies report later in the week. Some reports to watch today include FB ($3.20), LOGI ($1.14), OTIS ($0.73), and KMB ($1.66).
If tech is facing headwinds, then the S&P 500 itself will have a hard time rallying since…wrote Tom Essaye of Sevens Report in a note last week. Click here to read the full article.
Earnings season has been better than expected so far and that has been the main driver of the…wrote Tom Essaye, founder of Sevens Report Research. Click here to read the full article.
What’s in Today’s Report:
Futures are little changed following a night of mixed earnings and economic data.
Earnings overnight were disappointing with SNAP (down 20%) and INTC (down 3%) posting disappointing results, although they aren’t hitting the market broadly.
Economic data was mixed as UK flash PMI beat estimates (56.8 vs. (E ) 54.0) while the Euro Zone PMI slightly missed expectations (54.3 vs. (E ) 55.2). But, neither number is materially moving markets.
Today the key economic report is the October Flash Manufacturing PMI (E: 60.7) and markets will want to see continued stability in the economic recovery. We also get two Fed speakers, Daly (10:00 a.m.) and Powell (11:00 a.m.), although we do not expect anything incremental regarding tapering expectations (everyone now expects tapering to start in November).
On the earnings front, three notable reports we’ll be watching today are: AXP ($1.78), HON ($2.01) and SLB ($0.36).
The issues that caused the pullback have quieted over the past…wrote Tom Essaye, a former Merrill Lynch trader who founded “The Sevens Report” newsletter. Click here to read the full article.
Bottom line for oil, futures just notched their eighth-consecutive weekly rise and prices are technically…the Sevens Report analysts said. Click here to read the full article.
The issues that caused the pullback have quieted over the past two weeks, which has…wrote Tom Essaye, a former Merrill Lynch trader who founded “The Sevens Report” newsletter. Click here to read the full article.
Tom Essaye, Sevens Report Research Founder and President, joins Yahoo Finance Live to discuss the market reaction to earnings season thus far, outlook on inflation… Click here to see the full interview.
What’s in Today’s Report:
Stock futures are little changed this morning as investors digest recent gains and await more important earnings results.
On the inflation front, German PPI ran hot (2.3% vs. E: 1.0%), but EU HICP (their CPI) met estimates of 0.5% which is helping ease some price related concerns this morning (yields are off the overnight highs).
Looking into today’s session, there are no notable economic reports but multiple Fed speakers including: Bostic (12:00 p.m. ET), Kashkari (12:00 p.m. ET), Evans (12:00 p.m. ET), Quarles (1:00 p.m. ET), Bullard (1:45 p.m. ET), and Daly (8:35 p.m. ET).
Looking to earnings, focus will be on: VZ ($1.36), WGO ($1.98), and ABT ($0.92) reporting pre-market and then TSLA ($1.49), IBM ($2.49), PPG ($1.56), and DFS ($3.38) releasing results after the close.
