Next Day Prep: Tariff Shockwave Markets on Overdrive
A quick analysis of today’s market outlook and key trading opportunities to start your day.
Intro & Market Mood
Stocks surged today as trade war tensions eased, driving major indices higher. The market saw significant gains led by tech and consumer discretionary sectors.
Overnight Headlines
- The U.S. and China announced a tariff reduction agreement, sparking a “fear of missing out” rally.
- Apple and chipmakers like Apple surged, driving tech and consumer discretionary sectors up.
- Utilities experienced a decline as risk-on sentiment dominated the market.
Economic Announcements
Key economic data to watch includes the CPI and core CPI reports, with expectations for a 0.3% increase. The NFIB Small Business Optimism Index will also provide insights into sentiment.
Earnings Highlights
Companies to keep an eye on include IDXX, ENPH, and WDAY, showing bullish setups with potential breakouts based on volume patterns.
Top Movers
Notable movers include ASML and ADI in the tech sector, displaying strong bullish signals and potential for continued gains based on technical analysis.
Quick Trade Ideas
Consider entry points and stop-loss levels for IDXX, ENPH, and WDAY to capitalize on their bullish setups, with careful attention to volume patterns and overall market sentiment.
Key Takeaway
Despite the positive market momentum, remain cautious due to uncertainties around the trade agreement and upcoming economic data. Manage risk and stay informed for profitable trading opportunities.