What Has Really Changed In This Market?
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What’s in Today’s Report:
- Thoughts on the Israeli Strike in Iran
- What Has Really Changed In This Market?
- Oil Market: Technicals vs. Fundamentals
Futures are moderately lower as Israel conducted a limited strike in Iran while NFLX guidance disappointed.
Israel struck an Iranian military base in response to the weekends’ drone attack, but the operation was small and viewed as an effort to de-escalate the situation.
NFLX posted strong earnings but mixed guidance and the stock is down 6% pre-market.
Today there are no economic reports and only one Fed speaker, Goolsbee at 10:30 a.m. ET, and on the dovish side of the spectrum so barring a hawkish tone from him, he shouldn’t move markets.
On the earnings front, results early in the season have been a bit disappointing and focus on earnings will increase (especially next week). This market needs better results to help stabilize. Earnings we’re watching today include: AXP ($2.97), PG ($1.42) and SLB ($0.74).
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