Next Day Prep: Market Signals Flash Caution Ahead
A quick analysis of today’s market outlook and key trading opportunities to start your day.
Intro & Market Mood
Welcome to Next Day Prep – What We Are Watching Tomorrow. It was a fascinating close to the week as the market revealed its resilience amidst tariff news and cautious sentiment.
Overnight Headlines
Despite initial tariff concerns, mega-cap stocks like NVIDIA, Amazon, and Tesla supported the market, with only Energy and Consumer Discretionary sectors closing in the green.
Economic Announcements
Next week’s heavy economic calendar includes June CPI and PPI reports, Retail Sales data, and the start of big banks’ earnings season, crucial for market direction and sentiment.
Earnings Highlights
Levi’s (LEVI) stood out with remarkable performance, indicating a clear strategic turnaround led by a focus on direct-to-consumer business and expanding product lines, showcasing a strong brand strength.
Top Movers
- Regeneron (REGN) demonstrates consistent strength with potential resistance test at $570.
- Texas Instruments (TXN) and American Express (AXP) stand out as continuation plays in their respective sectors.
Quick Trade Ideas
- Tesla (TSLA) shows bullish momentum with a potential breakout, while Metcalf & Eddy Inc. (METC) and Milestone Pharmaceuticals (MIST) present interesting setups.
Key Takeaway
Amid uncertainty, traders are advised to focus on nimble plays and monitor critical support at 620 for the S&P 500 while being prepared for upcoming economic data releases which may serve as major market catalysts.