Morning Dose: Tech Titans Battle Oracle Earnings Forecast
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 Tuesday, September ninth, and futures are pointing to a slightly higher open, continuing yesterday’s momentum. The market mood is cautiously optimistic, coiled like a spring waiting for a catalyst.
Overnight Headlines
Big tech dominates the headlines today. Oracle (ORCL) is trading higher ahead of its earnings report, while Apple (AAPL) is preparing for its annual event unveiling the new iPhone 17.
Economic Announcements
The NFIB Small Business Optimism Index improved slightly. However, all eyes are on the upcoming Producer Price Index (PPI) and Consumer Price Index (CPI) releases for potential impacts on Fed rate decisions.
Earnings Highlights
- Oracle (ORCL) earnings report after close
- Apple (AAPL) annual September event
- Dick’s Sporting Goods (DKS) upgraded to Buy
- Lululemon (LULU) downgraded to Sector Weight
Top Movers
Winners:
- Wolfspeed (WOLF) up nearly 66%
- Tourmaline (TRML) up almost 58% on buyout offer
- Teck Resources (TECK) up over 14% on merger news
Losers:
- Core & Main (CNM) down over 13%
- SailPoint (SAIL) down almost 6%
Quick Trade Ideas
Watch key levels for potential entries:
- S&P 500 ETF (SPY): Support around $649, resistance near $650-$651
Key Takeaway
Stay nimble, respect key levels, and focus on names with clear momentum. Monitor intraday action during the Apple event and prepare for market reactions post-inflation reports by being patient and disciplined.