Market Recap – U.S. Indexes Slide Ahead of Rate-Signal Week
Equities stumbled in the latest session as S&P 500 dropped for the fifth time in six days, and the Dow closed lower for the sixth out of seven. Weakness stems from renewed concerns over slowing growth amid persistent inflation risks.
📉 Economic Pulse: Services Swoon, Stagflation Fears Grow
- ISM’s services index unexpectedly slid to 50.1 in July from 50.8, raising concerns given services account for around 80% of U.S. GDP.
- Input costs surged to a near three-year high, reigniting fears of stagflation—a stagnating economy with rising prices.
- With last week’s weak jobs report and dovish comments from Fed’s Mary Daly, the odds of a September rate cuthave climbed. Investors will watch scheduled speeches from Daly, Susan Collins, and Lisa Cook today for more guidance.
🧪 Earnings & Sector Headlines
- Q2 earnings remain solid, with over 80% of companies beating estimates. However, pressure builds:
- AMD dropped sharply in pre-market after disappointing revenue growth in its data center business, especially compared to Nvidia.
- Snap (SNAP) plunged on increased competition and weak user metrics amid an AI race.
- Rivian (RIVN) stumbled as supply-chain and trade issues weighed heavily on margins.
- Still to report: Dow component McDonald’s (MCD) and media giant Disney (DIS). These are key for consumer and advertising sentiment.
🛢 Oil Bounces Back
- Brent rose +1.5% to $68.63/barrel
- WTI climbed +1.5% to $66.16/barrel
A surprise 4.2M barrel draw in API stockpiles fueled the bounce, alongside growing risks of further U.S. sanctions on buyers of Russian oil. Markets had sold off earlier on OPEC+’s planned September supply increase.
📰 Trump Tariff Headlines & Apple Investment
- President Trump continues trade pressure: following new 25% tariffs on India last week, he’s threatening further sanctions due to New Delhi’s purchase of Russian crude.
- Apple (AAPL) is reportedly ramping up U.S. manufacturing, committing $100 billion in domestic investment—supporting tech sentiment.
⚖️ NLST Legal Catalyst
- Netlist (NLST) got a major boost: the court denied Samsung’s motion for a retrial in its infringement case—an outcome seen as favorable to NLST and a significant legal milestone for its investors.
📊 Technical Notes: $QQQ Holding + Major Catalyst Watch
The $QQQ tech index filled an intraday dip to 559.73 and finished at 560.27 (‑0.68%). With support above 560 and the long-term trend intact, bulls remain in control—there’s still a 4% buffer before the critical support at 540. Key drivers today: earnings from UBER, DIS, and MCD.
📌 Macro Snapshot
| Asset | Price |
|---|---|
| Bitcoin | ~$113.4K/coin |
| Gold (XAU) | ~$3,430/oz |
| Silver | ~$37.9/oz |
📅 Key Events on Today’s Calendar
- Crude Oil Inventories – 10:30AM ET
- Fed’s Mary Daly Speaks – 12:45PM ET
- 10‑Year Treasury Auction – 1:00PM ET
- Trump Oval Office Address – 4:30PM ET
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🎯 Ready-For-Trade Themes
- Long Side: Stocks like NVDA, AMZN, DIS, and AI plays holding tight near support
- Short/Risk Off: Names like AMD, SNAP, RIVN showing early weakness
- Event-driven Focus: NLST legal milestone, plus earnings reactions to DIS, MCD, UBER
- Macro: Watch oil stocks and yields ahead of oil print and Treasury auction
Stay sharp—it’s setup time!
See you in chat. 🚀
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