Tuesday Market Wrap and Must Reads

  The only way to end your day   📉Stocks fall ahead of CPI Major averages moved lower on lower-than-average volume as traders prepare for important inflation numbers ahead of Wednesday's open. The tech-heavy Nasdaq-100 ETF (QQQ) led markets lower, falling 0.6%. The Russell 2000 ETF (IWM) dropped 0.3% and the S&P 500 ETF (SPY) fell 0.4%. Trading was relatively light, as investors look ahead to Wednesday morning, when Consumer Price Index numbers - one of the Federal Reserve's favorite measures of inflation - will be released at 8:30 AM ET. Producer Price Index numbers drop Thursday at the same time. Investors and traders could also be awaiting any kind of progress on the U.S. debt limit issue with a potential default looming. U.S. President Joe Biden meets with House Speaker Kevin McCarthy right at market close. 💵 NY Fed cautions rate increases could continue New York Fed President John Williams - no relation to the famed film composer - cautioned that inflation won't return to acceptable levels until interest rate increases have enough time to work their way through the economy, citing a lag between policy actions and their effects. Speaking to the Economic Club of New York, Williams said "we haven't said we're done raising rates" before adding "I do not see in my baseline forecast, any reason to cut interest rates this year." In a consistent messaging from the FOMC and individual members, Williams noted that the Fed will continue to asses data before changing policy direction. 🛢️ Alternative Investments Rise West Texas Intermediate (WTI) oil contracts rose 0.49%, while natural gas gained 1.25%. Bitcoin (BTC) and Ethereum (ETH) each added 0.1% and 6%. Gold added 0.42% to close at $2041. Speaking of Gold, Tom Gentile thinks it could SKYROCKET from it's current levels. And he just placed a $1.5 million bet that it will do so in the next 180 days. [Join Tom on Thursday at 10 AM ET as he hosts his special $5K Gold Breakout Event.]( Once you RSVP, you'll receive access to a special live room - and word on the street is that Tom will make an appearance on Wednesday, a full day BEFORE the event! 👀 Looking ahead Several of the Federal Reserve’s favorite inflation indicators - namely Consumer Price Index and Producer Price Index - numbers will be released this week, starting with CPI numbers tomorrow morning. To see the market's reaction to these numbers LIVE - and learn how you can potentially trade the market's reaction - be sure to tune into [Money Morning LIVE every day at 8:30 AM ET right here.]( 📊 Earnings on deck Wednesday before market open: Roblox (RBLX), Li Auto (LI), Wendy's (WEN) Tuesday after market close: Airbnb (ABNB), Affirm (ARM), Occidental Petroleum (OXY) Today's leading sectors: Industrials (XLI +0.2%), Biotech (XBI +1%) Today's lagging sectors: Semiconductors ()SMH -1.5%), Technology (-0.77%)   Must Reads     The debt ceiling trade is gonna be insane... As I noted this morning, Janet Yellen is again focused on the debt ceiling… with all the wrong reasons at play. The central banker-turned-Treasury Secretary has been calling around to CEOs to warn about a “catastrophe” should the U.S. default on its debt. Boo hoo. Yellen has been at the epicenter of a massive monetary expansion over the past decade. [This Keynesian panic is just another sign that academics will lead us to ruin...]( [Continue Reading](     The Fed Deflated the Market – But Not These Trades That air you heard coming out of the banking sector on Monday was partially due to a little-read report (until things get interesting) from the Fed. It’s called the Senior Loan Officer Opinion Survey on bank lending practices – or the “SLOOS Report.” (For what It’s worth I really like saying “sloos.” You should try it.) [This quarterly report is an overview of supply and demand for loans to businesses and households...]( [Continue Reading](     [The $5K Gold Breakout]( Gold’s been dead for over a decade. But in the next 6 months, it’s going to hit a revival that’ll shoot it to $5K in the next 180 days. You can’t ignore this. On Thursday, we’ll tell you exactly what’s backing this prediction. [Want to come?]( [Continue Reading](     How to day trade with a small account For anyone with a small account, you need to first determine the risk you need to put on each trade. Let’s say you have a $5000 account. You can’t be risking $500 per trade. That kind of loss isn’t going to keep you sustainable. It’s all about position sizing and you can’t have one trade risking $500, while the next only risks $50. [Here's how to keep it consistent...]( [Continue Reading](     The Get-Back Trade I’m Olivia Voz – I ain’t like most traders. Using my volume profile, I’ve unlocked the secret of the what I like the to call the “Get-Back Trade”. [If you’ve ever had a stock take money from you, and you want to kick that stock’s ass back – this is how you do it.]( [Continue Reading](     There’s “Rich”... And Then There’s “Texas Rich” [There’s “Rich”... And Then There’s “Texas Rich”]( As we speak, a massive bidding war in the oil fields of the Permian Basin is setting up for a new generation of “Texas Rich.” All you need to know is the right acquisition targets and how to play ‘em. Garrett {NAME} is sharing the full game plan: his targets, the buyers, and the date of every single deal. If you’re ready to learn the meaning of “Texas Rich,” [Check it out by clicking here.]( [Continue Reading](   We’d love to hear from you! There’s nothing more that we value than hearing from our loyal Money Morning LIVE audience! (Especially hearing how much you LOVE the content you receive from Trading Today) So whatever your pleasure - whether it’s [Twitter]( [Instagram]( [TikTok]( or [Facebook]( - give us a like, a follow, or leave us a comment (or an emoji 💸)! 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