Three Keys to a Bottom Updated
What’s in Today’s Report:
- Three Keys to a Bottom Updated
- Was Friday’s WSJ Article A “Fed Pivot?” No. Here’s Why.
- Weekly Market Preview: The Height of Earnings Season
- Weekly Economic Cheat Sheet: More Hints of Stagflation?
Futures are slightly higher as momentum from Friday’s close offset steep losses in Chinese markets.
The Hang Seng fell 6% as Premier Xi emerged from China’s National Conference with an even tighter grip on power, ensuring continued “zero COVID” policies and heightened tensions with the West.
Economically, the Euro Zone and UK flash PMIs missed estimates as both remained below 50 (47.1 and 47.2 respectively).
This week will being a deluge of critical earnings reports but that doesn’t’ start until tomorrow, so focus today will be on the flash PMIs (October Flash Manufacturing PMI (E: 51.2), October Flash Services PMI (E: 49.3)) and if those numbers show solid activity and falling prices, stocks can extend the rally.
