Market review from UTEX – week 29

The weekend's top event is the assassination attempt on Trump. He was saved by an accidental turn of the head. Against this backdrop, Trump Media & Technology Group (DJT) stock was up +45% on the premarket, and was as high as $54.5 in momentum. PHUN, RUM and Trump-related political tokens Polifi also surged.

DJT had been falling since early summer, when Trump was found guilty of tampering with financial records. But the assassination attempt over the weekend caused the market and crypto to rise as it boosted Trump's chances of winning the Nov. 4 presidential election.

Last week, the S&P 500 added 1%, while the Nasdaq fell slightly, down 0.3%. Moving interestingly were Meta (-7.5%), Netflix (-6% ahead of the report) and Tesla, which rose to $270 but corrected on Thursday on news that the robotaxi launch was delayed. Even with the correction, TSLA is up 45% for the month.

Bitcoin is recovering from its previous drawdown – BTC has already reached the $62,400 mark.

On Thursday, positive inflation data was released, and the probability that the Fed will cut the rate in September rose to 90.3%. 

Today Fed Chairman Jerome Powell will make a speech. On Tuesday, data on retail sales in June will be released, and on Wednesday – on housing starts and building permits for June.

The reporting season has started, this week big companies like ASML Holding, Johnson & Johnson, UnitedHealth, Taiwan Semiconductor, Netflix, Bank of America will report. Their results may seriously affect the whole market and certain sectors.  

Traditionally, we've picked 5 interesting ideas for you + bonus!

Johnson & Johnson (JNJ). Report on July 17 before the opening. Looks good for the mid-term with support at $144–$145. Minus 5% over the past year in a rising market.

J.B. Hunt Transport Services (JBHT). Report on July 16 after the close. One of the largest U.S. trucking companies. The stock has been in a $155–$170 range for the last three months. The $155 level has held since June 2022, so we can build off of that. If the stock is negative on the postmarket and premarket and opens below this level, investors' nerves may give out - it will be a good short.

Cintas Corporation (STAS). Report on July 18 before the open. Provider of corporate uniforms and related services. The stock has gone from $150 to $720 in 4 years with almost no drawdown. Another +50% for the year. The stock is up 45 points from the open on the last report, volatility can be very high. For those who like to trade expensive reporting stocks intraday with small volume. 

Abbott Laboratories (ABT). Report on July 18 before the open. A large U.S. chemical-pharmaceutical corporation. Currently trading at $104, good support at $100. If the level holds, the target is $130. Not recommended intraday, heavy for day-trading.

Netflix (NFLX). Report on July 18 after the close. On July 5, the stock nearly reached its all-time highs of $700 in 2021. The price has now corrected to $650. If it breaks $700, there will be a lot of buys.

And a bonus!  ASML Holding (ASML). Report on July 17 before the open. Manufacturer of chip making equipment. Not for trading - the stock is expensive and at historic highs right now. The company's report will help gauge the state of the industry. There will probably be reaction in NVDA, INTC, AVGO, AMD, ARM, QCOM and the rest of the chipmakers. Taiwan Semiconductor will release results the next day, July 18 before the open, and these two reports will set the tone for the hottest sector in the market. Very interesting, waiting for surprises.

Successful trading!