June PPI and Core PPI were both flat, better than the expected 0.2% increase. Yields on 10-year and 20-year Treasury bonds pulled back from the 4.5% and 5% levels. The S&P 500 has been moving sideways near its highs for nine trading days. SPY rose again in pre-market from around $620, with resistance still in the $626–628 range.
Q2 earnings season officially starts today. On the first day, strong results didn’t lead to strong stock moves. Big banks GS and MS reported strong profit growth, but pre-market stock prices were little changed. BAC beat expectations and rose slightly (about 1%).
ASML warned of no growth next year, and its stock dropped 9%. Other chip equipment stocks also fell. Healthcare giant JNJ beat expectations and raised its full-year guidance, with shares up 2%.
Quantum computing firm RGTI hit a new milestone, rising 8% and lifting the sector. Rare earth miner MP and stablecoin-related stocks continued rising pre-market.
Today, focus remains on major tech names. Watch for these key levels:
• MSFT: testing around 508
• AMZN: 228
• GOOGL: 185
• NVDA: 173
• META needs to hold support near 710
• AAPL is still trading in a range, support around 208
• TSLA continues to form a triangle pattern ahead of next week’s earnings, with 322 as a resistance level today.
More Information/Reports/Video/Analysis please contact us—info@the-currency-store.com. We offer fully customised content services tailored to you needs.
Add comment
Comments