💼 The Great Rotation

PLUS - Apple's no longer among top smartphone vendors in China -your pre-market briefing inside →                                                                                                                                                                                                                                                                                                                                                                                                                 July 26, 2024 | [Read Online]( In partnership with First time here? [Sign up]([»]( Good morning. The Fast Five → [Great rotation trade]( sees investors dump AI giants, the US economy is pulling off [something historic](, [Apple’s no longer]( among top smartphone vendors in China, OpenAI announces a “[SearchGPT](” search engine, and [starter home]( prices top $1 million in 200+ US cities… 📈 From Chaikin Analytics: [Wall Street is selling NVDA at a record rate – Here’s Why »]( Calendar: (all times ET) Today: PCE index, 8:30 AM Consumer sentiment, 10:00 AM Your 5-minute briefing for Friday, July 26: BEFORE THE OPEN As of market close 7/24/2024. Pre-Market: US Investor % Bullish Sentiment: ↓ 43.17% for Wk of July 25 2024 (Last week: 52.75%) Chart updates every Friday. Market Recap: - Futures slightly up Thu night; major averages set for weekly losses. - Stocks poised for weekly declines; rotation into small caps and cyclicals. - Thursday: S&P -0.5%, Nasdaq -0.9%, Dow +0.2%. - Today: June's PCE report, expected +0.1% monthly, +2.5% yearly. - Earnings: Bristol Myers Squibb, Colgate-Palmolive, 3M. EARNINGS Here’s what we’re watching this week: - Today: 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 [Great Rotation Trade Sees Investors Dump AI Giants for Less Obvious Stocks]( Speculative AI trades seen outside of tech, communications. Shares of utilities, property firms have rallied this quarter. [The US Economy is Pulling off Something Historic]( Economic growth in the first half of the year was solid, with the economy expanding a robust 2.8% annualized rate in the second quarter. - US economy grew at 2.8% rate in second quarter ([more]() - 2-year Treasury yield dips as investors look to key inflation data ([more]() - 30-year fixed-rate mortgage edges up to 6.78% ([more]() - Yen steady, Asian stocks weak as wild week winds down ([more]() - China veers off beaten path with consumer stimulus ([more]() - Starter home prices top $1 million in more than 200 US cities ([more]() - Apple no longer among top 5 smartphone vendors in China ([more]() - OpenAI announces a search engine called SearchGPT ([more]() - Southwest abandons open seating after 53 years ([more]() - CrowdStrike CEO says 97% of Windows sensors back online ([more]() - Kroger, Albertsons agree to pause merger ([more]() - Uber, Lyft and others win CA ruling to treat drivers as contractors ([more]() - Lilly loses $120B in value as rival obesity drugs impress ([more]() Your IRA, made to order Choose where and when you want to retire, and a [Betterment IRA]( can help make your money hustle all the way there. [Learn more]( - We’re on a short break this week - The Dealflow, Crypto, and Bullish sections will resume on Monday 7/29. DAILY SHARE [tw profile: sophie] sophie @netcapgirl [tw] showing your breadwinning wife your latest meme 4:45 PM • Jul 25, 2024 2.65K Likes 77 Retweets 19 Replies [tw profile: Jacob Silverman] Jacob Silverman @SilvermanJacob [tw] el oh el ft.com/content/c4b4f6… Bill Ackman slashes fundraising target for US fund IPO by as much as 90% Pershing Square USA distances itself from its CEO’s comments 12:59 AM • Jul 26, 2024 85 Likes 10 Retweets 3 Replies [tw profile: Not Jerome Powell] Not Jerome Powell @alifarhat79 [tw] 🎯 11:39 PM • Jul 25, 2024 1.25K Likes 171 Retweets 37 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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