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Economy Set for Soft Landing
The S&P 500 closed lower Tuesday amid cautious trading ahead of...
Kenny
July 24, 2024
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💰Economy Set for Soft Landing
Welcome to Money Masters!
The S&P 500 closed lower Tuesday amid cautious trading ahead of quarterly earnings from big tech, reflecting investor anxiety despite predictions of a soft landing for the economy. This dip comes amidst significant political developments and key market movements, which have made markets very interesting lately.
Let’s go.
BIG IDEA 1💡
Market Movements and Earnings Insights
Markets
Slight Dip: The Dow Jones Industrial Average fell 57 points, or 0.1%, while the S&P 500 fell 0.2%, and the NASDAQ Composite fell 0.1%.
Tech Earnings Awaited: Investors are cautious as they await quarterly earnings from big tech companies, which are set to influence market direction.
Earnings Season: About a quarter of S&P 500 companies are set to report this week, intensifying the focus on corporate earnings.
UBS Economic Outlook
Soft Landing Predicted: UBS analysts maintain their view that the U.S. economy is headed for a soft landing, with inflation on a downward trend.
Rate Cuts Expected: UBS expects the Federal Reserve to begin cutting rates in September, aligning with their base case scenario.
Consumer Demand: Moderating consumer spending is seen as a key factor in easing inflationary pressures and supporting economic stability.
Piper Sandler’s Bullish Sentiment
Upgraded S&P 500 Target: Piper Sandler analysts raised their year-end S&P 500 target from 5,050 to 5,800 based on improved market breadth and technical indicators.
SMID-Cap Performance: The recent outperformance of small and mid-cap stocks indicates a broadening market rally beyond the Technology sector.
Financial Sector Strength: Financials are leading the market surge, showing strong price action and participation across various sub-sectors.
BIG IDEA 2💡
Stock Movements and Markets
Tesla’s Financial Performance
Mixed Q2 Results: Tesla reported Q2 earnings that fell short of estimates due to weaker margins and falling EV sales.
AI and Energy Storage: Despite challenges, Tesla’s AI projects and energy storage business showed promising growth.
Future Prospects: Tesla reiterated its commitment to launching new vehicles and products, with production set to start in 2025.
Mixed Earnings Reports
Coca-Cola’s Strong Performance: Coca-Cola stock ended marginally higher after raising its annual sales and profit forecasts, driven by strong demand.
GE Aerospace’s Profit Growth: GE Aerospace stock rose more than 6% after increasing its annual profit forecast due to high demand for aftermarket services.
Struggles for GM and UPS: General Motors closed over 6% lower after delaying EV plans.
Cryptocurrency Developments
Ether ETFs Launch: The first wave of Ether-spot exchange traded funds began trading, including issuers like Blackrock, Fidelity, and Invesco.
Market Reaction: Despite the launch, ETH/USD fell 1%, reflecting cautious market sentiment.
Broader Crypto Impact: This follows the launch of Bitcoin ETFs, signaling further mainstream adoption of cryptocurrencies.
NEWSLETTER CORNER🗞️
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INFLATION REPORT💸
Today’s Inflation Rate: 2.17%
You are now closer to money mastery!🎉
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