Why Didn’t Stocks Rally Last Week? (Despite Good News)
Why Didn’t Stocks Rally Last Week? (Despite Good News): Start a free trial of The Sevens Report.
What’s in Today’s Report:
- Why Didn’t Stocks Rally Last Week (Despite Good News)
- Weekly Market Preview: Is the Tech Rally Finally Exhausted?
- Weekly Economic Cheat Sheet: Focus on Inflation This Week
Futures are slightly lower mostly on momentum from Friday’s declines following a very quiet weekend of news.
Economically, the only notable number over the weekend was Chinese CPI, which rose more than expected (0.7% vs. (E) 0.3%) and that’s being seen as a positive as deflation was a growing risk in the Chinese economy.
Focus this week will remain on economic data (both inflation and growth) and tomorrow’s CPI report is the key report for the week.
Today, however, the calendar is sparse as the only notable economic report is New York Fed Inflation Expectations (E: 3.00%) and barring a major overshoot, this number shouldn’t move markets.
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