Morning Dose: Inflation Showdown Will Cuts Hold?
A quick analysis of today’s market outlook and key trading opportunities to start your day.
Intro & Market Mood
The Morning Dose – Everything You Need to Know Before the Market Opens
Good morning! The market appears to be holding its breath today as futures remain flat. Yesterday, the Nasdaq reached a new all-time high momentarily before fading into the close, setting the stage for a potentially pivotal day.
Overnight Headlines
- Executive order extends lower tariff rate for China for another ninety days, but market reaction is muted.
- Elon Musk challenges Apple, while Intel surges pre-market after positive remarks following White House visit.
- Reports indicate Chinese government advising against NVIDIA’s chips for security reasons.
Economic Announcements
Today’s main event is the release of July’s Consumer Price Index (CPI) data at 8:30 Eastern Time. A significant data point that could influence market sentiment depending on how it unfolds.
Earnings Highlights
- Winners: GEVO (+50%), WideOpenWest (WOW) (+48%), Green Dot (GDOT) (+16%)
- Losers: BigBear.ai (BBAI) (-28%), PubMatic (PUBM) (-27%)
Top Movers
Upgrades: Chipotle, Starbucks, and Mercury Systems stand out. Downgrades: PubMatic and Getty Images face pressure following recent developments.
Quick Trade Ideas
Indices are testing resistance levels with SPY at 636 and QQQ at 573. Watch for breakout attempts post-CPI data. The VXX remains low, signaling decreased market fear.
Key Takeaway
Traders should stay nimble and patient amidst mixed signals. Focus on post-CPI plays, keep stops tight, and prioritize stocks showing strength and volume. Today calls for tactical, not impulsive, trading strategies.