Why Do Stocks Keep Rising? (Biggest Reason)
What’s in Today’s Report:
- Why Do Stocks Keep Rising? (Biggest Reason)
- Weekly Market Preview: Do tech earnings and economic growth stay strong?
- Weekly Economic Cheat Sheet: A Busy Week Highlighted by Friday’s Jobs Report
Futures are modestly higher despite no U.S./Iran ceasefire and as AI Enthusiasm continues to support stocks.
There was no additional progress on a U.S./Iran agreement and the two sides again exchanged limited strikes but markets still expect a ceasefire agreement in the coming days.
Nvidia unveiled a new AI processor designed specifically for Windows and that is boosting tech and futures.
This week is a busy and potentially important one from an economic standpoint and it starts today with the ISM Manufacturing PMI (E: 53.3). Markets will want to see a Goldilocks reading of better than expected headline activity and tame price indices (the opposite would be stagflationary and negative for markets). We also get one Fed speaker today, Waller (8:30 a.m. ET), but he shouldn’t move markets.
Notable tech earnings continue this week including today: SAIC ($2.26), HPE ($0.44).
