Wake Up Wall Street (SPY) (QQQ): All hold for mid-week CPI as doves look to be in danger
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UNLOCK OFFERHere is what you need to know on Monday, August 8:
Equity markets are on hold really until Wednesday's Consumer Price Index (CPI). Given that macro narratives are what has been driving the market of late, expect that number to either give the rally the kiss of death or breathe new life into the dovish Fed argument. Earnings season is more or less complete and was not as bad as feared. Reactions to earnings disappointments were also slightly more positive than usual, meaning we all perhaps got a tad too negative into the season. Certainly, sentiment readings backed this up and helped fuel the turnaround rally.
Former retail favorite Palantir has disappointed again with the security company once again lowering forward guidance. PLTR stock is down 10% in the premakret. Green energy and health stocks could catch a boost from the finally passed climate and healthcare package, which Democrats finally got over the line. The package is much less than originally hoped for however.
The dollar has lost some ground this morning and is down to 106.40 for the dollar index. Gold trades at $1,785, and Bitcoin is at $24,100. Oil is trading at $88.07.
European markets are higher: Eurostoxx +0.8%, FTSE +0.4% and Dax +0.9%.
US futures are also higher: S&P +0.5%, Dow +0.4% and Nasdaq +0.7%.
Wall Street top news (QQQ) (SPY)
China military drills continue near Taiwan.
Palantir (PLTR) earnings mixed, but lower guidance hits the stock.
CVS Health (CVS) planning to bid for Signify Health (SGFY), according to WSJ.
Tyson foods (TSN) earnings mixed, and shares fall 2%.
First Solar (FSLR) catches multiple broker upgrades as the climate act finally gets through.
Barrick Gold (GOLD) is up on solid earnings.
BioNTech (BNTX) down on earnings.
Crisper Therapeutics (CRSP) misses on earnings.
LYFT creates a new advertising unit.
Upgrades and downgrades
Source: WSJ.com
Economic releases
Here is what you need to know on Monday, August 8:
Equity markets are on hold really until Wednesday's Consumer Price Index (CPI). Given that macro narratives are what has been driving the market of late, expect that number to either give the rally the kiss of death or breathe new life into the dovish Fed argument. Earnings season is more or less complete and was not as bad as feared. Reactions to earnings disappointments were also slightly more positive than usual, meaning we all perhaps got a tad too negative into the season. Certainly, sentiment readings backed this up and helped fuel the turnaround rally.
Former retail favorite Palantir has disappointed again with the security company once again lowering forward guidance. PLTR stock is down 10% in the premakret. Green energy and health stocks could catch a boost from the finally passed climate and healthcare package, which Democrats finally got over the line. The package is much less than originally hoped for however.
The dollar has lost some ground this morning and is down to 106.40 for the dollar index. Gold trades at $1,785, and Bitcoin is at $24,100. Oil is trading at $88.07.
European markets are higher: Eurostoxx +0.8%, FTSE +0.4% and Dax +0.9%.
US futures are also higher: S&P +0.5%, Dow +0.4% and Nasdaq +0.7%.
Wall Street top news (QQQ) (SPY)
China military drills continue near Taiwan.
Palantir (PLTR) earnings mixed, but lower guidance hits the stock.
CVS Health (CVS) planning to bid for Signify Health (SGFY), according to WSJ.
Tyson foods (TSN) earnings mixed, and shares fall 2%.
First Solar (FSLR) catches multiple broker upgrades as the climate act finally gets through.
Barrick Gold (GOLD) is up on solid earnings.
BioNTech (BNTX) down on earnings.
Crisper Therapeutics (CRSP) misses on earnings.
LYFT creates a new advertising unit.
Upgrades and downgrades
Source: WSJ.com
Economic releases
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