Why the Outlook For Stocks Got Worse Last Week (Not Better)
Why the Outlook For Stocks Got Worse Last Week (Not Better): Start a free trial of The Sevens Report.
What’s in Today’s Report:
- Why the Outlook For Stocks Got Worse Last Week (Not Better)
- Weekly Market Preview: Will Fed Officials and the BOE Increase Rate Cut Hopes?
- Weekly Economic Cheat Sheet: A Quiet Week but Friday’s Inflation Expectations Will Be Important
Futures are extending the gains from Friday’s Goldilocks jobs report despite a potential increase in geo-political tensions this week.
Oil prices are rallying moderately following the breakdown of Israel/Hamas cease fire talks and an Israeli military operation in Rafah is likely.
Economically, the Euro Zone services PMI beat estimates at 53.5 vs. (E) 52.9, pushing back on EU recession risks.
Today there are no notable economic reports but there are two Fed speakers, Barkin (12:50 p.m. ET) and Williams (1:00 p.m. ET). If either of them sound more open to rate hikes than Powell did last week, it’ll likely push yields higher and take back some of last week’s post-Fed rally.
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