💼 Investors react to Biden exit

PLUS - Markets could unwind the ‘Trump trade’ -your pre-market briefing inside →                                                                                                                                                                                                                                                                                                                                                                                                                 July 22, 2024 | [Read Online]( In partnership with First time here? [Sign up]([»]( Good morning. The Fast Five → [Investors react]( to Biden pulling out of race, markets could [unwind]( the ‘Trump trade’ with Biden out, [markets broaden]( as investors sell tech winners, a market rotation of historic proportions is [taking shape](, and [who gets the $96M]( sitting in Biden’s campaign account? 📈 From Dylan Jovine: [An AI pattern poised to transform the investment landscape]( [»]( Calendar: (all times ET) WED, 7/24: New home sales, 10:00 AM THU, 7/25: GDP, 8:30 AM Initial jobless claims, 8:30 AM Durable-goods orders, 8:30 AM FRI, 7/26: PCE index, 8:30 AM Consumer sentiment, 10:00 AM Your 5-minute briefing for Monday, July 22: BEFORE THE OPEN As of market close 7/19/2024. Bitcoin as of 7/21/2024. Pre-Market: US Investor % Bullish Sentiment: ↑ 52.75% for Wk of July 18 2024 (Last week: 49.18%) Chart updates every Friday. Market Recap: - S&P futures up 0.23% after worst weekly loss since April. - Dow futures +0.1%, Nasdaq +0.42%. - Investors rotating out of megacap tech into smaller names. - Biden dropped out of race, endorses VP Harris. - Analysts see increased likelihood of Trump win in November. - Traders expect a 93% chance of Fed rate cut in September. - Big tech sold off; small caps and industrials favored. EARNINGS Here’s what we’re watching this week: - Today: Verizon Communications ([VZ]() - Tuesday: Albertsons ([ACI](), Capital One Financial ([COF](), Coca-Cola ([KO](), General Motors ([GM](), Kimberly-Clark ([KMB](), Lockheed Martin ([LMT](), Phillip Morris Int'l ([PM](), Tesla ([TSLA](), UPS ([UPS](), Visa ([V]() - [Alphabet (GOOGL)]( - earnings of $1.84 per share (+27.8% YoY) on $84.2B revenue (+12.9% YoY) - Wednesday: AT&T ([T](), Lennox Int'l ([LII](), IBM ([IBM]() - [Chipotle (CMG)]( - earnings of $.32 per share (+28% YoY) on $2.9B revenue (+16.3% YoY) - Thursday: AbbVie ([ABBV](), Honeywell ([HON](), Southwest Air ([LUV]() - Friday: Bristol-Myers Squibb ([BMY]() - [3M (MMM)]( - earnings of $1.68 per share (-22.6% YoY) on $5.9B revenue (-25.4% YoY) Full earnings calendar [here](. HEADLINES [Investors React to Biden Pulling Out of Presidential Race]( Biden ended his reelection campaign on Sunday after fellow Democrats lost faith in his mental acuity and ability to beat Trump, leaving the presidential race in uncharted territory. [Markets Could Unwind the ‘Trump Trade’ After Biden Drops Out]( Biden's exit from the presidential race on Sunday could prompt investors to unwind trades betting that a Republican victory would increase US fiscal and inflationary pressures. - Who gets the $96M sitting in Biden’s campaign account? ([more]() - Soros backs Harris as other Wall St democrats want a contest ([more]() - China social media embraces Trump after Harris steps into race ([more]() - Geopolitics overtakes inflation at top of sovereign wealth fund worry list ([more]() - Gold jumps to record as traders ramp up bets on Fed rate pivot ([more]() - Dollar eases as Biden ends re-election bid ([more]() - Gold climbs as election chaos escalates ([more]() - China surprises with cuts to key rates to support fragile economy ([more]() - Markets broaden as investors sell tech winners ([more]() - Bond markets haunted by bigger debt loads and erratic politics ([more]() - Secret bank ratings show US regulator’s concern on handling risk ([more]() Take a demo, get a Blackstone Griddle - Automate expense reports so you can focus on strategy - Uncapped virtual corporate cards - Access scalable credit lines from $500 to $15M [Request a demo]( - We’re on a short break this week - The Dealflow, Crypto sections will resume on Monday 7/29. BULLISH BITES 🚀 Second Wave of AI Profits: [How to get in]( 📈 Shifting: A stock market rotation of [historic proportions]( is taking shape. 💻 Exposed: The software patch that [shook the world](. 🤦🏻‍♂️ Listen Up: The man who predicted the 2008 collapse [issues new warning](. 🚨 Warning: Americans mistakenly think this [new Biden law]( won’t affect them. DAILY SHARE [tw profile: Douglas A. Boneparth] Douglas A. Boneparth @dougboneparth [tw] I’ve never felt more unburdened by what has been. 6:51 PM • Jul 21, 2024 1.65K Likes 111 Retweets 78 Replies [tw profile: Sir Doge of the Coin ⚔️] Sir Doge of the Coin ⚔️ @dogeofficialceo [tw] This season is so 🔥 6:49 AM • Jul 22, 2024 528 Likes 49 Retweets 32 Replies [tw profile: Not Jerome Powell] Not Jerome Powell @alifarhat79 [tw] 🤣🤣🤣 10:21 PM • Jul 21, 2024 4.75K Likes 588 Retweets 146 Replies What did you think about today's briefing? - [⭐️⭐️⭐️⭐️⭐️ Excellent, keep it comin'!]( - [⭐️⭐️⭐️⭐️ Good stuff]( - [⭐️⭐️⭐️ It was alright]( - [⭐️ Needs work]( Have a comment or suggestion? 💌[Send us a message](mailto:feedback@marketbriefing.com) [ADVERTISE]( | [SUBSCRIBE]( *from our partners Disclaimer: Market Briefing© is a news publisher. All statements and expressions herein are the sole opinions of the authors or paid advertisers. 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