Morning Dose: Market Ready Knocking on All-Time Highs with China Trade …
A quick analysis of today’s market outlook and key trading opportunities to start your day.
Intro & Market Mood
Welcome to The Morning Dose – Everything You Need to Know Before the Market Opens. It is Friday, June 27th, and futures are pointing higher, with the S&P 500 on the verge of a new all-time high.
Overnight Headlines
- China Trade News: Reports indicate a consensus in principle between President Trump and China, boosting market optimism and driving a risk-on sentiment.
Economic Announcements
- 8:30 AM Data: Personal Income and Spending figures for May, highlighting the PCE Price Index as a key inflation indicator.
- 10 AM: Final consumer sentiment reading for June expected to show a positive increase.
Earnings Highlights
- NIKE (NKE): Beat on Q4 earnings, driving the stock up over 10% pre-market, despite concerns over margin compression and domestic revenue decline.
- Amazon (AMZN): Upgraded to Outperform and gains from carrying Nike products.
- Boeing (BA): Also upgraded to Outperform, with stocks climbing over one percent.
Top Movers
- Losers: Achieve Life Sciences (ACHV) down nearly 20% due to a stock offering, and Concentrix (CNXC) down about 7% on an earnings miss.
Quick Trade Ideas
Watch SPY for key support and resistance levels. Look for selective long setups in strong sectors like communication services, semiconductors, and consumer discretionary.
Key Takeaway
Cautiously bullish sentiment prevails with tech and cyclicals leading the charge. Stay vigilant on market levels and maintain a smart, selective trading strategy.