OP Wire 7/18 (OP – Lite)

By Steve

📈 Futures Rise – Earnings & Data in Focus
U.S. stock futures are higher this morning as investors digest strong earnings and look ahead to fresh economic data. Netflix (NASDAQ:NFLX) topped estimates but is trading lower premarket, with analysts saying the streaming leader’s results may not have fully met lofty expectations.

By 03:51 ET, Dow futures were up +64 points (+0.1%), S&P 500 futures added +8 points (+0.1%), and Nasdaq 100 futures climbed +27 points (+0.1%). Wall Street closed Thursday in the green, lifted by solid Q2 results and positive economic signals despite lingering tariff uncertainty.

🎬 Netflix Earnings
Netflix posted EPS of $7.19, beating the $7.08 forecast, powered by strong demand for the final season of “Squid Game.” Annual revenue guidance was raised to $44.8–$45.2B (up from $44.5B). Still, analysts at Vital Knowledge called the revenue lift from a weaker dollar “a low-quality source,” and some warn that NFLX is priced for perfection after a 43% rally this year.

📊 Consumer Sentiment & Economic Outlook
Today’s key report: the University of Michigan Consumer Sentiment Index (July) at 10AM ET. Markets are watching closely for signs of inflation expectations holding steady. Recent retail sales and jobless claims data show resilience, while June inflation matched forecasts, though tariffs are pushing up select prices.

💬 Fed Waller Hints at Rate Cut
Fed Governor Christopher Waller said Thursday a 25 bp rate cut at the July 29–30 meeting would be justified, citing tariff-related risks. While Fed Chair Powell remains cautious, pressure from the White House to lower rates is intensifying.

₿ Bitcoin Rallies on Crypto Legislation
Bitcoin climbed 1.1% to $119,583, approaching its fourth straight weekly gain, after the U.S. House passed three major crypto bills, including:

GENIUS Act – Stablecoin issuers must hold audited, high-quality reserves.
CLARITY Act – Defines SEC vs. CFTC jurisdiction on digital tokens.
Anti-CBDC Surveillance Act – Blocks a Fed-issued digital currency without congressional approval.

BTC hit $123K earlier this week before pulling back on profit-taking.

💎 Tech & Metals

$QQQ closed at 561.8 (+0.1%) after setting a new all-time high at 562.31. Bulls remain firmly in control above the 540 level.
Bitcoin: ~$120K
Gold: ~$3,350/oz

📅 Today’s Key Data (ET):

🇺🇸 Housing Starts (Jun) – 8:30 AM
🇺🇸 Building Permits (Jun) – 8:30 AM
🇺🇸 Michigan Consumer Sentiment & Inflation Expectations (Jul) – 10:00 AM
🇺🇸 Atlanta Fed GDPNow (Q2) – 11:30 AM
🇺🇸 Baker Hughes Oil & Total Rig Counts – 1:00 PM

🎯 Trading Focus
Earnings, consumer sentiment, and GDPNow updates are likely to set the tone. Bitcoin’s rally and QQQ’s bullish trend continue to favor momentum plays — watch for dip-buying opportunities unless we see a sharp move under 540 on QQQ.

See you all in chat and on Secret Sauce live stream!

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OP Wire 7/18 (OP – Lite)

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