US stock futures are steady this morning as July draws to a close, with Wall Street set to end the month with solid gains.
Second-quarter earnings season continues to roll on, and investors anticipate fresh reports from major global companies this week, including Apple (AAPL), Amazon.com (AMZN), Merck (MRK), Pfizer (PFE), AMD (AMD), Caterpillar (CAT), Starbucks (SBUX), and Qualcomm (QCOM).
Minneapolis Fed President Neel Kashkari said on Sunday that the inflation outlook in the U.S. is “quite positive,” but he also acknowledged that the central bank’s aggressive monetary tightening campaign would likely result in some job losses and slower economic growth.
Today, all eyes are focused on the U.S. Chicago PMI. Economists, on average, forecast that the July Chicago PMI will stand at 43.0, compared to the previous value of 41.5.
WTI crude futures held above $80 per barrel. Gold steadied above $1,950 an ounce while the yield on the US 10-year Treasury note hovered close to the 4% mark.
All three main U.S. indexes ended last week higher and appear set to gain this month as signs of cooling inflation and a resilient economy have cemented investor bets on a soft landing for the country.
The Platinum Paper Trading Portfolio will close out the month with 16 total trades and only one losing position. For the month, the portfolio was up over $3100.00. We closed out of BAX last week with a 4.20% gain in 8 days of holding the stock.
The paper trading portfolio is utilized as a practice educational tool, implementing our swing trading guidelines to actual stock price movement. The Paper Trade Portfolio is for educational purposes and not a recommendation to buy or sell a stock.
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