Weekly Market Recap and Upcoming OP Live Session
U.S. stock futures edged higher on Friday, buoyed by better-than-expected jobless claims data, which brought some stability back to Wall Street. Thursday saw a strong market rally, with the Dow Jones soaring nearly 700 points (1.8%), the S&P 500 jumping 2.3%, and the Nasdaq surging 2.9%—its best session since November 2022.
Despite Thursday’s gains, the markets remain down for the week, with the S&P 500 off 0.5%, and both the Nasdaq and Dow down about 0.7%, marking four consecutive weeks of losses.
In stock news, Paramount Global (NASDAQ: PARA) rose after beating profit expectations and reporting its first streaming profit in three years, although it also announced a 15% workforce reduction. Meanwhile, Expedia (NASDAQ: EXPE) surged after strong quarterly results despite signaling a softening in travel demand, while ELF Beauty (NYSE: ELF) slipped on cautious guidance.
Disney’s Strategic Moves
Walt Disney (NYSE: DIS) is banking on its Entertainment division, planning to spend at least $1 billion annually over the next five years in the U.K., Europe, the Middle East, and Africa to produce movies and TV shows. This comes as Disney works to rebuild after streaming losses, a decline in traditional television, and challenges in its film division.
Global Market Highlights
In China, new energy vehicles (NEVs) reached a milestone, accounting for 50.7% of all auto sales in July—a significant increase from just 7% three years ago. Additionally, China’s consumer price index inflation rose 0.5% in July, signaling a potential pick-up in domestic demand. Meanwhile, crude prices saw weekly gains, buoyed by improving sentiment in the U.S. economy and ongoing geopolitical tensions.
Don’t Miss Out!
Next Wednesday at 7 p.m. ET, join Tracks for a live session where he’ll discuss how his AC&I system has consistently delivered solid results, including a quick 25% gain on a recent alert play. With the markets as volatile as they are, this session is a must for anyone looking to refine their strategies and capitalize on the opportunities ahead.
Be sure to tune in and take advantage of these insights—because in a market like this, staying informed is key to staying ahead. Oh, and new What’s Next Wallstreet show episode drops today. Make sure you are subscribed so you don’t miss it
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