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Trade Deal Preview

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What’s in Today’s Report:

  • U.S.-China Signing Ceremony: Could There Be a “Sell the News” Reaction?

Futures are slightly lower while international equity markets were little changed overnight as investors look ahead to the signing ceremony of the phase-one trade deal between the U.S. and China and await more earnings.

Economically, Eurozone Industrial Production for the month of November was a mild miss coming in at 0.2% vs. (E) 0.3% which is modestly weighing on EU shares today.

Looking into today’s session, there are two economic reports to watch: PPI (E: 0.2%) and Empire State Manufacturing Index (E: 3.5) and two Fed officials are scheduled to speak: Harker (11:00 a.m. ET) and Kaplan (12:00 p.m. ET).

Investors however will remain focused on earnings with: BAC ($0.74), UNH ($3.90), GS ($5.20), and BLK ($7.67) all due to release results this morning.

Jobs Report Preview (All About Wages)

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What’s in Today’s Report:

  • Jobs Report Preview (All About Wages)
  • Oil Update (EIA Analysis)

Futures are modestly higher as U.S./Iran tensions continue to recede.

There was no new geopolitical news overnight, and the rockets that hit the “Green Zone” in Iraq into the closing bell on Wednesday were a small, isolated event.  As such, futures are essentially recouping that late-day dip.

Economic data was again mixed as German IP was better than expected, while German exports missed estimates.

Today there is one notable economic reports, Jobless Claims (E: 219K), and markets will want to see a continued decline that effectively reverses the Thanksgiving spike.

There are also numerous Fed speakers today including, in order of importance, Clarida (8:00 a.m. ET), Williams (11:30 a.m. ET), Kashkari (9:30 a.m. ET), Barkin (12:45 p.m. ET), Evans (1:20 p.m. ET).  Broadly, markets expect a continued reiteration of the message that the Fed isn’t raising rates until inflation is sustainably higher.

Market Multiple Update

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What’s in Today’s Report:

  • U.S.-Iran Update
  • Market Multiple Update: Initial 2020 Edition

Global stocks plunged overnight on reports of an Iranian missile strike against U.S. military bases in Iraq. Risk assets have since recovered however as there were no U.S. casualties reported and Iran said the attacks “concluded” Tehran’s retaliation for the assassination of General Soleimani.

In Europe, German Manufacturers’ Orders were –1.3% vs. (E) 0.2% but the easing geopolitical tensions between the U.S. and Iran are supporting modest gains in EU markets.

Looking into today’s session, geopolitics will likely dominate trading but as long as tensions continue to ease between the U.S. and Iran, stocks will likely be able to trade with an upside bias.

As far as other catalysts go, there is one economic report to watch: ADP Employment Report (E: 157K), one Fed official scheduled to speak: Brainard (10:00 a.m. ET) and a 10-Yr T-Note Auction at 1:00 p.m. ET.

Tom Essaye Quoted in BeinCrypto.com on January 3, 2020

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Veteran trader and Sevens Report Research founder Tom Essaye recently told Yahoo Finance that this kind of “short-term volatility is something we all have to get more used to.” Traders will find that the herd mentality of algorithms, coupled with their wild swings, will price many out of participating in the market entirely. Click here to read the full article.

Robotic Hand with Bitcoin

Tom Essaye Quoted in Seeking Alpha on December 30, 2019

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“The market was very overbought at the end of last week. Nothing really new has occurred to push the market up in…” said Sevens Report‘s Tom Essaye.

Tom Essaye Headshot

Tom Essaye Quoted in CNBC on December 31, 2019

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“The best-performing Q4 sectors are leading to the downside today, and that implies some short-term selling and people positioning before year-end. The market was very overbought at the end of last week. Nothing really…” said Tom Essaye, founder of the Sevens Report.

Tom Essaye Quoted in Hannity.com on December 26, 2019

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“Stocks are grinding relentlessly higher into year-end on continued momentum from the positive resolution of four key events: A phase one trade deal…” Tom Essaye, founder of Sevens Report, said Monday. Click here to read the full article.

Sean Hannity

Tom Essaye Quoted in International Business Times on December 23, 2019

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“Stocks are grinding relentlessly higher into year-end on continued momentum from the positive resolution of four key events: A phase one trade deal, a dovish Fed…” Tom Essaye, founder of Sevens Report, said Monday. Click here to read the full article.

Tom Essaye Headshot

Tom Essaye Quoted in Seeking Alpha on December 23, 2019

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“Stocks are grinding relentlessly higher into year-end on continued momentum from the positive resolution of four key events: A phase one trade deal…” says Sevens Report founder Tom Essaye. Click here to read the full article.

Seeking Alpha logo

Tom Essaye Quoted in MSN Money on December 24, 2019

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“Stocks are grinding relentlessly higher into year-end on continued momentum from the positive resolution of four key events: A phase one trade deal…” Tom Essaye, the founder of Sevens Report, said in a note. Click here to read the full article.

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