Morning Dose: June Jobs Report Alert Rate Cut Catalyst!
A quick analysis of today’s market outlook and key trading opportunities to start your day.
Intro & Market Mood
The Morning Dose Market Briefing: Equity futures are hovering around the flatline as the market anticipates the critical June employment report at 8:30 Eastern. Traders are on edge, awaiting potential market-moving data.
Overnight Headlines
- U.S.-China Trade: Restrictions on chip design software exports to China have been lifted, easing tech trade tensions.
- Capitol Hill News: Progress on the “One Big Beautiful Bill” with a procedural vote advancing, signaling potential market impact.
Economic Announcements
8:30 AM: Watch for June employment report, May Trade Balance, and Initial Jobless Claims. Later at 9:45 and 10 AM, Services PMI, Factory Orders, and ISM Services data will create market volatility.
Earnings Highlights
- Datadog (D-D-O-G): Soaring over 9% as it joins the S&P 500, triggering index fund buying.
- Tripadvisor (T-R-I-P): Up 8% after activist investor Starboard Value takes a 9% stake, hinting at potential strategic moves.
- FedEx (F-D-X): Rising over 1% on a double upgrade from Underperform to Outperform with a target price of $270.
Top Movers
Lucid: Producing over 3,800 vehicles and delivering 3,300, nudging the stock up 1%, reflecting success in meeting targets.
Quick Trade Ideas
S&P 500 ETF (SPY): Resistance at $622.50 with support at $619.
Nasdaq (QQQ): Watching $552.50 resistance and $550.50 support levels for potential breakout signals.
Key Takeaway
Today hinges on the 8:30 Eastern jobs report, setting the tone and likely direction for trading. Stay alert post-release as quick market shifts are likely.