News / Uncategorized
[Platinum Insights] (8.7.23)
[Platinum Insights] (8.7.23)
August 22, 2023
Good morning.
Stock futures are higher this morning as market participants looked ahead to the latest U.S. inflation data and more corporate earnings results.
Attention this week is already turning to Thursday’s critical U.S. CPI report for signs that disinflation has really set in after June’s report showed the smallest annual increases in consumer prices for two years.
The recent upbeat earnings performance of many S&P 500 companies follows waves of job cuts this year, prompted by worries the U.S. Federal Reserve’s aggressive interest rate hikes might throw the U.S. economy into a downturn. Major technology-related companies including Meta Platforms, Amazon and Alphabet have laid off tens of thousands of workers, solidifying their profit margins while their revenue continued to grow.
WTI crude futures fell below $82 per barrel. Gold fell below $1,940 an ounce while the yield on the US 10-year Treasury note retreated almost 10bps to below 4.1%.
With the falling markets last week, there are fewer stocks on the Horizon and < 200 Stocks list this week. As swing traders, we need these market reversals to provide us with future potential set-ups. Remember to be conscience of when the companies in your portfolio are going to announce earnings. In many cases, this provides a good opportunity to take some gains off the table prior to the earnings announcement.
The decision is yours, based upon your risk tolerance.
Have a great day!
Share this article:
More in Uncategorized:
Hedge funds and banks typically use multiple time frames for intraday trading
Hedge funds and banks typically use multiple time frames for intraday trading, as this allows them to gain a comprehensive...
![Trent Grinkmeyer in front of stock market with bull background](https://bestofusinvestors.com/uploads/2023/06/trent-e1687263019450-300x300.webp)
Trent Grinkmeyer
August 30, 2024
Nvidia Earnings Call: A Record Quarter with a Twist
Nvidia’s Q2 earnings call was a mixed bag, with the company reporting a record quarter but also revealing a drop...
![Kerry Grinkmeyer in a suit standing in front of a stock chart with a bull on it](https://bestofusinvestors.com/uploads/2023/07/kerry-300x300.webp)
Kerry Grinkmeyer
August 29, 2024
Nvidia Earnings: A Critical Moment for Big Tech
As we approach Nvidia’s earnings report, the tech world holds its breath. This isn’t just about one company’s performance; it’s...
![Trent Grinkmeyer in front of stock market with bull background](https://bestofusinvestors.com/uploads/2023/06/trent-e1687263019450-300x300.webp)
Trent Grinkmeyer
August 28, 2024
The Sleeping Giant: Why Intel is an Undervalued Stock
As the world’s largest semiconductor company, Intel (INTC) has long been a household name in the tech industry. However, despite...
![Kerry Grinkmeyer in a suit standing in front of a stock chart with a bull on it](https://bestofusinvestors.com/uploads/2023/07/kerry-300x300.webp)
Kerry Grinkmeyer
August 23, 2024
The Trillion Dollar Addiction...
The Trillion Dollar Addiction That Amazon, Google, Meta and Microsoft Will Be Selling Next Year As I discussed in my...
![Kerry Grinkmeyer in a suit standing in front of a stock chart with a bull on it](https://bestofusinvestors.com/uploads/2023/07/kerry-300x300.webp)
Kerry Grinkmeyer
August 19, 2024
What is an AI Agent? What Can It Do For You? Where Can You Get One?
As I discussed with my tribe during our recent stock talk, I’m excited to share with you the concept of...
[Platinum Insights] (8.7.23)
August 18, 2024