💼 Selloff

Stocks fall as AI selloff goes global -your pre-market briefing inside →                                                                                                                                                                                                                                                                                                                                                                                                                 July 25, 2024 | [Read Online]( First time here? [Sign up]([»]( Good morning. The Fast Five → [Stocks fall]( as AI selloff goes global, Biden says time for ‘[younger voices](’, [Tesla earnings miss]( causes biggest slump since ‘20, S&P and Nasdaq [worst day]( since ‘22, and [Ether ETFs]( see net inflows of $106M on first day… 📈 From Chaikin Analytics: [Time to sell NVDA? 50-yr Wall Street legend weighs in »]( Calendar: (all times ET) Today: 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 Thursday, July 25: BEFORE THE OPEN As of market close 7/24/2024. Pre-Market: US Investor % Bullish Sentiment: ↑ 52.75% for Wk of July 18 2024 (Last week: 49.18%) Chart updates every Friday. Market Recap: - Stocks sold off Wed; S&P and Nasdaq had worst session since 2022. - S&P 500 -2.31%, Nasdaq -3.64%, Dow -1.25%. - Alphabet -5%, Tesla -12.3%, Nvidia -6.8%, Meta -5.6%, Microsoft -3.6%. - Overbought market, high earnings bar, weak equity period caused sell-off. - Weak US manufacturing data; PMI fell to 49.5 in July. - New home sales in June below expectations. EARNINGS Here’s what we’re watching this week: - Today: 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 [Stocks Fall as AI Selloff Goes Global]( Fed should cut rate at next week meeting: former Fed NY chief. Yen strengthens against dollar, extending Wednesday’s rally. [Tesla Shares Down 12% After Earnings Miss, Biggest Slump Since 2020]( Tesla shares dropped Wednesday after the electric car maker reported second-quarter earnings that missed expectations. - Biden Says Time for ‘Younger Voices’ in Oval Office Speech ([more]() - Megacap stock selloff shows investor concerns about too much tech ([more]() - US business activity edges higher; pricing power diminishing ([more]() - New home sales fall to seven-month low in June ([more]() - Gold rises on softer dollar, traders eye more US data ([more]() - Oil prices finish higher as US oil, fuel inventories ease ([more]() - China central bank surprises by lending again at lower rates (more) - Bank of Canada cuts rates, sees weaker economy in 2024 ([more]() - Japan's population falls at the fastest rate in decades ([more]() - US spot Ether ETFs see net inflows of $106M on first day ([more]() - Kering hit 7-year low after weak forecast, revenue drop on low China sales ([more]() - Stellantis reports 48% drop in first-half net profit on weak sales ([more]() Our No. 1 Stock for the Rare "Millionaire Window" Opening NOW According to Wall Street legend Whitney Tilson, an extremely rare window in the markets is about to open. 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The time is ripe.[Go HERE to Get Their Names And Ticker Symbols]( By clicking the link you are subscribing to the Summa Money Newsletter and may receive up to 2 additional free bonus subscriptions. Unsubscribing is easy [Privacy Policy/Disclosures]( DAILY SHARE [tw profile: Douglas A. Boneparth] Douglas A. Boneparth @dougboneparth [tw] The S&P 500 might be down 2% today, but don’t worry! There’s like 98% of it left. 4:10 PM • Jul 24, 2024 1.33K Likes 67 Retweets 72 Replies [tw profile: Tony Roundtree] Tony Roundtree @Tonywithyy [tw] Average SEC couple 9:32 PM • Jul 23, 2024 138K Likes 4.53K Retweets 814 Replies [tw profile: Not Jerome Powell] Not Jerome Powell @alifarhat79 [tw] The Starbucks cashier after I press “no tip” on the pin pad 6:57 AM • Jul 25, 2024 382 Likes 28 Retweets 25 Replies [tw profile: Autism Capital 🧩] Autism Capital 🧩 @AutismCapital [tw] The expressions when you realize you're doomed 3:52 AM • Jul 25, 2024 208 Likes 7 Retweets 16 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. 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