Morning Dose: Market Alert Tech Regulation Shakeup
A quick analysis of today’s market outlook and key trading opportunities to start your day.
Intro & Market Mood
Good morning! Welcome to The Morning Dose market briefing. Today, we’re seeing a moderate pullback after yesterday’s strong performance. The market is taking a breather, consolidating its gains.
Overnight Headlines
- Senate Negotiations: Republicans are discussing debt ceiling increases in exchange for Senator Rand Paul’s support in the reconciliation bill.
- AI Regulation: States may now regulate artificial intelligence, potentially impacting tech companies.
- Powell Speech: Federal Reserve Chair Powell will speak at the ECB conference, providing clues on future policy.
Economic Announcements
Key economic data releases today include May Construction Spending, May Job Openings, and the June ISM Manufacturing Index, crucial for gauging sector performance.
Earnings Highlights
- TSLA (Tesla): Down pre-market due to sales concerns and subsidy threats from President Trump.
- PRGS (Progress Software): Despite positive earnings, stock declines on integration worries post-acquisition.
- ATAI (ATAI Life Sciences): Soaring on upbeat phase two study results and a significant private placement announcement.
Top Movers
Chinese EV makers like Li Auto and XPeng surged on strong June delivery numbers. Omada Health (OMDA) receives multiple bullish ratings, while upgrades for Hasbro (HAS) and Nike (NKE) highlight positive consumer sentiment.
Quick Trade Ideas
Watch for SPY to hold above 615 for bullish momentum, with resistance near 620. VIX remains calm, signaling stability. Be prepared for Powell’s speech and ISM data for market direction.
Key Takeaway
Traders should stay alert for potential market shifts amid ongoing economic and earnings news. Approach the day with caution, watch key support levels, and react strategically to major catalysts.