Will the Trump Verdict Impact Markets?
Will the Trump Verdict Impact Markets? Start a free trial of The Sevens Report.
What’s in Today’s Report:
- Will the Trump Verdict Impact Markets?
- When Will Higher Yields Pressure Stocks?
Futures are moderately lower again following more disappointing tech earnings and another hot inflation print.
Salesforce (CRM) missed earnings and joined a growing list of non-AI tech companies to post disappointing result (WDAY last week) and that’s weighing on futures.
Economically, Spanish CPI was hotter than expected as it rose 3.8% y/y vs. (E) 3.7%, up from last month’s 3.4%
Today includes some potentially important economic data as we get the Revised Q1 GDP report (E: 1.5%) and focus will be on the headline as well as any revisions to the PCE Price Data (if it’s revised higher, that’s a negative). Other notable data today includes Jobless Claims (E: 217K) and Pending Home Sales (E: 0.3%) and as has been the case all year, “hot” data will be negative for stocks and bond.
There are also two Fed speakers today, Williams (12:05 p.m. ET) and Logan (5:00 p.m. ET), although unless they talk about rate hikes, they comments shouldn’t move markets.
Join thousands of advisors from huge brokerage firms like Morgan Stanley, Merrill Lynch, Wells Fargo Advisors, Raymond James, and more! To start your quarterly subscription and see how The Sevens Report can help you grow your business, click here.
