TRUMP ASSASINATION ATTEMPT and The Stock Market Technical Analysis- 7-14-24

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Broad Market Indices
1. S&P 500: The index experienced fluctuations due to mixed earnings results and anticipation of Federal Reserve policy moves. Despite some volatility, the S&P 500 showed resilience, driven by tech sector gains and positive economic data. Investors likely felt cautiously optimistic about the tech sector's growth potential and the broader market's stability.

2. Dow Jones Industrial Average (DJIA): The DJIA showed modest gains, supported by positive earnings from industrial and consumer sectors, though it faced pressure from inflation and interest rate concerns. Investors might have felt a mix of optimism and caution, appreciating the gains but wary of inflationary pressures.

3. NASDAQ: The tech-heavy index saw robust performance, bolstered by strong earnings from major technology companies, which offset broader market concerns. This likely boosted investor confidence in tech stocks amid economic uncertainty.

Major Economic News Events
1. Inflation Data: The Consumer Price Index (CPI) report indicated a 0.1% month-over-month increase and a 3.0% year-over-year rise. Core CPI also saw a 0.1% month-over-month increase, aligning with expectations and raising hopes for a possible Federal Reserve rate cut in September. Investors probably felt encouraged by softer inflation data, increasing the likelihood of rate cuts and a more favorable environment for equities.

2. Federal Reserve Watch: Federal Reserve Chairman Jerome Powell reiterated the Fed's data-dependent approach, suggesting that while rates are likely at their peak, they may need to remain restrictive for some time to combat inflation. This would have likely left investors feeling cautiously hopeful about future rate cuts balancing immediate restrictive policies.

3. Corporate Earnings: Over 170 S&P 500 companies reported earnings, including Amazon and Apple, which provided positive guidance, lifting overall market sentiment. Investors likely felt optimistic about further gains driven by strong corporate performance and positive outlooks from leading companies.

4. Labor Market: The weekly jobless claims report and the Producer Price Index (PPI) provided further insights into the labor market and inflation pressures, contributing to overall cautious optimism. Investors might have felt reassured by the stable job market, which is a positive indicator for economic health and consumer spending.

Economic Outlook
The economic data released, including consumer sentiment and wholesale inventories, painted a picture of a gradually stabilizing economy. The expectation of a Fed rate cut in the near future also provided a positive backdrop, fostering cautious optimism among investors. This would likely make investors feel more confident in the market's ability to weather short-term challenges and focus on long-term growth opportunities.

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DISCLAIMER: Educational Purposes only. Not a recommendation to buy or sell and security. This US stock market technical analysis today trading video is on advanced technical analysis on the US stock market this week and any stocks mentioned are for you to research after consulting with a registered investment advisor.

This US stock market technical analysis today trading video is on advanced technical analysis on the stock market this week and any stocks mentioned are for you to research after consulting with a registered investment advisor.

All of Grok Trade's technical analysis videos are for educational purposes only. Our videos are not delivered by a registered financial advisor.