Next Day Prep: Tech Surge, Banks Buckle Uncover Tomorrow’s Play
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! The market showed resilience today despite negative headlines, pushing S&P 500 to record highs after a shakeout and reversal session.
Overnight Headlines
- Fed Chair Powell faces DOJ probe
- President Trump calls for a 10% cap on credit card rates
Economic Announcements
The December CPI print is scheduled for 8:30 AM Eastern tomorrow. Consensus expects 0.3% for both headline and core. Traders anticipate the market reaction to this key data point.
Earnings Highlights
JPMorgan’s earnings report, set to kick off the bank run, is awaited with caution due to the regulatory uncertainties surrounding interest rate caps affecting the Financials sector.
Top Movers
Financials, particularly lenders like SYF (Synchrony Financial) and COF (Capital One), faced significant downside pressure. However, defensive growth and tech sectors saw robust gains, with stocks like WDC (Western Digital) and STX (Seagate) surging.
Quick Trade Ideas
- RIOT (Riot Blockchain): Momentum play in crypto mining sector; watch for push through 16.60 aiming at 17.50.
- UEC (Uranium Energy Corp): Potential breakout above 16.00 level targeting 16.50.
- DLTR (Dollar Tree): Strong volume expansion, look for a move toward 140 if it holds above 136.
Key Takeaway
Monitor the reaction to the CPI print, keep a close watch on Financials post JPMorgan earnings, and focus on breakout levels on RIOT and UEC for potential trading opportunities. Stay disciplined and alert in navigating tomorrow’s market.