Why Stocks Have Really Pulled Back
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What’s in Today’s Report:
- Why Stocks Have Really Pulled Back
- Weekly Market Preview: Will the Fed and Growth Data Make the Pullback Worse This Week?
- Weekly Economic Cheat Sheet: A Very Busy Week (Fed Wednesday, Jobs Report Friday)
Futures are slightly higher following a mostly quiet weekend of news as markets digest last week’s gains ahead of a busy and important week of catalysts.
Economically, Spanish Core HICP (their CPI) rose 2.9% vs. (E) 3.3% y/y, offering a positive note on inflation.
Geo-politically, Secretary of State Blinken is in the Mid-East to push for another Gaza ceasefire and oil is down slightly in response.
Looking forward, this is a very busy and important week filled with numerous potential catalysts including Wednesday’s Fed decision and Friday’s jobs report, but the week starts slowly from a data standpoint as there are no notable reports today.
On earnings, we get some important updates from semiconductor companies today and reports we’re watching include: ON ($1.04), NXPI ($3.16), SOFI ($0.01).
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