Morning Dose: Market Alert TikTok Deal Finalization Call Amid Global Ce…
A quick analysis of today’s market outlook and key trading opportunities to start your day.
Intro & Market Mood
Market Mood: U.S. equity futures are flat this morning after a record-high rally fueled by the Fed’s indication of more rate cuts. Overseas, Asia experienced profit-taking while Europe is looking positive despite central bank concerns.
Overnight Headlines
- President Trump and President Xi scheduled for a key call at 9:00 am Eastern likely finalizing the TikTok deal under U.S. consortium control.
- House Republicans plan for a government funding resolution, setting up potential political tension with the Senate post-October 1st.
Economic Announcements
Quiet economic calendar, with the focus on political developments driving market sentiment.
Earnings Highlights
- FedEx (FDX): Beat on earnings and revenue, provided solid full-year guidance, stock up over 5% pre-market.
- Lennar (LEN): Beat on earnings but missed on revenue, stock down nearly 3%.
Top Movers
Intel: Citigroup downgraded to Sell, Benchmark upgraded to Buy, reflecting a bull-bear debate in legacy chip stocks. Tesla: Upgraded to Outperform, could see positive momentum.
Quick Trade Ideas
Follow the rotation into Technology and Consumer Discretionary stocks, watch for support at 660.80 on SPY, and key resistance at 661.90 for potential next leg higher.
Key Takeaway
Market Summary: Pause after a rally, focus on Trump-Xi call at 9 AM for market impact. Stick with tech leaders, be strategic, and stay alert for opportunities.