What’s in Today’s Report:
- Bottom Line – Are Stocks Pricing in an Economic Contraction?
- Weekly Economic Cheat Sheet – Is Stagflation Imminent?
Stock futures are trading modestly lower with European markets this morning as recession fears continue to weigh on sentiment.
Economically, global Composite PMI data was better than feared but broader concerns of a slowdown remain.
Today, investor focus will be on economic data early with Motor Vehicle Sales (E: 13.5M) and Factory Orders (E: 0.5%) both due out before the opening bell.
There are no Fed officials scheduled to speak today but the Treasury will hold auctions for 3-Month and 6-Month Bills at 11:30 a.m. ET which may move bond markets and ultimately move equities.