What Credit Spreads Are Saying About the Economy
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What’s in Today’s Report:
- What Credit Spreads Are Saying About the Economy
Futures are little changed despite more trade threats from President-elect Trump overnight.
After the close, Trump stated he’d apply a 25% tariff to all goods from Mexico and Canada and an additional 10% tariff on goods from China, again reminding investors that not all proposed policies are market friendly.
Focus today will be on economic data and earnings and it’s likely to be the last potentially busy day of the week given the looming holiday.
The key report today is the FOMC Minutes (2:00 p.m. ET) which will give us insight into the November Fed decision. Any commentary in the minutes that makes a December rate cut less likely will be a modest negative for stocks, while a strong sense of commitment for additional cuts will be a positive. Other reports today include the Case-Shiller Home Price Index (E: 4.8%) and New Home Sales (E: 725K),
Finally, there are important retail and tech earnings today and some reports we’ll be watching include: BBY ($1.30), DKS ($2.68), DELL ($2.05), HPQ ($0.94).
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