Facebook Settlement and Earnings In Focus Today, GDP Friday
Earnings reports move the U.S. markets
Major U.S. index futures are split today following disappointing Boeing and Caterpillar earnings, released before the market opened. After the market closes, look for Facebook and Tesla earnings while tomorrow we will see Amazon, Google, Intel, and Comcast report Q2 earnings.
PayPal, Spirit Airlines, and Ford report after market close
Yesterday, shares rose off impressive earnings data from Snap, Coca-Cola, and Chipotle. PayPal, Spirit Airlines, and Ford report after market close and GDP data is scheduled to release this Friday.
Facebook pay additional fine from the SEC
Facebook is set to announce a settlement with the FTC this week, along with an additional fine from the SEC, and will announce added measures to protect consumers’ privacy and data.
U.S.-China talks continue next week
A face to face between U.S. and Chinese trade-representatives is scheduled for next week as well as the fifth meeting of the FOMC of 2019.
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Corporate earnings and the FOMC remain the biggest factor to markets
The SPY continues trading near an all-time high level and we encourage our readers to consider buying near $290 level. Corporate earnings and the FOMC remain the biggest factor to markets through the end of July but we do not see market momentum pushing SPY much higher than $300, potentially overshooting to $305. For reference, the SPY Seasonal Chart is shown below:
Stocks mixed today
Both the S&P and Nasdaq remain in the green while the Dow is trading slightly lower.
Boeing and Caterpillar earnings disappoint
Pre-market reports from Boeing and Caterpillar have underwhelmed, causing shares of both companies to slip. AT&T, also released before the market opened, was able to match expectations and therefore saw shares modestly rise in early morning trading. The big week of earnings continues after markets close today with Facebook, Tesla, PayPal, and Ford releasing Q2 corporate reports. Tomorrow, Google parent-company Alphabet Inc reports, as well as Amazon and Intel. Friday will feature McDonald’s and Twitter as well as Q2 GDP data. Next week, Apple headlines Q2 earnings with Mastercard, GE, Qualcomm, and General Motors also due to report.
Also making headlines today, Facebook and the FTC’s settlement terms should soon be released. After several testimonies in D.C., the FTC is reportedly looking at settling with Facebook for the sum of five billion dollars. Also included in the deal will be some form of certification that Facebook is taking the necessary steps to protect users’ privacy and data. An SEC fine of over $100 million has also been reported. Simultaneously, look for Robert Mueller’s testimony in D.C. today as well. A face to face meeting between Mnuchin, Lighthezier, and Chinese Trade Representatives will take place next week where tariffs and trade deficit will likely be negotiated, though a deal is still uncertain. Globally, both Asian and European markets closed in the green.
Using the “^GSPC” symbol to analyze the S&P 500 our 10-day prediction window shows mixed signals. Today’s vector figure of +0.36% moves to -0.55% in five trading sessions. Prediction data is uploaded after the market close at 6 pm, CST. Today’s data is based on market signals from the previous trading session.
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Highlight of a Recent Winning Trade
On July 17th, our ActiveTrader service produced a bullish recommendation for AES Corporation (AES). ActiveTrader is included in all paid Tradespoon membership plans and is designed for day trading.
Trade Breakdown
AES entered its forecasted Strategy B Entry 1 price range $17.29 (± 0.07) in its first hour of trading and passed through its Target price $17.46 in the second hour of trading that day. The Stop Loss price was set at $17.12
Thursday Morning Featured Symbol
*Please note: At the time of publication we do not own the featured symbol, ADI. Our featured symbol is part of your free subscription service. It is not included in any paid Tradespoon subscription service. Vlad Karpel only trades his own personal money in paid subscription services. If you are a paid subscriber, please review your Premium Member Picks, ActiveTrader or MonthlyTrader recommendations. If you are interested in receiving Vlad’s personal picks, please click here.
Our featured symbol for Thursday is Analog Devices Inc (ADI). ADI is showing a confident vector trend in our Stock Forecast Toolbox’s 10-day forecast. This stock is assigned a Model Grade of (B) indicating it ranks in the top 25th percentile for accuracy for predicted support and resistance, relative to our entire data universe.
The stock is trading at $124.28 at the time of publication, up 4.00% from the open with a +0.13% vector figure.
Prediction data is uploaded after market close at 6 p.m., CST. Today’s data is based on market signals from the previous trading session.
Note: The Vector column calculates the change of the Forecasted Average Price for the next trading session relative to the average of actual prices for the last trading session. The column shows expected average price movement “Up or Down”, in percent. Trend traders should trade along the predicted direction of the Vector. The higher the value of the Vector the higher its momentum.
Oil
West Texas Intermediate for Crude Oil delivery (CL.1) is priced at $55.80 per barrel, down 1.71% from the open, at the time of publication.
Looking at USO, a crude oil tracker, our 10-day prediction model shows negative signals. The fund is trading at $11.62 at the time of publication, down 2.00% from the open. Vector figures show -0.88% today, which turns -6.53% in five trading sessions. Prediction data is uploaded after market close at 6 p.m., CST. Today’s data is based on market signals from the previous trading session.
Gold
The price for the Gold Continuous Contract (GC00) is up 0.20% at $1,424.70 at the time of publication.
Using SPDR GOLD TRUST (GLD) as a tracker in our Stock Forecast Tool, the 10-day prediction window shows mostly positive signals. The gold proxy is trading at $134.26, at the time of publication. Vector signals show -0.01% for today. Prediction data is uploaded after market close at 6 p.m., CST. Today’s data is based on market signals from the previous trading session.
Treasuries
The yield on the 10-year Treasury note is down 1.55% at 2.05% at the time of publication. The yield on the 30-year Treasury note is down 1.55% at 2.58% at the time of publication.
Using the iShares 20+ Year Treasury Bond ETF (TLT) as a proxy for bond prices in our Stock Forecast Tool, we see positive signals in our 10-day prediction window. Today’s vector of +0.12% moves to +0.83% in three sessions. Prediction data is uploaded after market close at 6 p.m., CST. Today’s data is based on market signals from the previous trading session.
Volatility
The CBOE Volatility Index (^VIX) is down 3.57% at $12.16 at the time of publication, and our 10-day prediction window shows mixed signals. The predicted close for tomorrow is $13.31 with a vector of +0.38%. Prediction data is uploaded after market close at 6 p.m., CST. Today’s data is based on market signals from the previous trading session.
