Week Of July 8, 2024: What's In Store For The Markets -

Week Of July 8, 2024: What’s In Store For The Markets

Jul 07, 2024Jeremy ParkinsonFinance, No picture0

“Knowledge born from actual experience is the answer to why one profits, lack of it is the reason one loses.” Gerald M. Loeb Market Commentary New index highs, with even narrower participation- not what you want.

It was another breathtaking week as a few companies led the indexes to new all-time highs. Large cap tech simply exploded, while you can see clear deterioration surfacing in the broader market.

The number of 52-week lows expanded beyond the “healthy” level.

The recession watch continues to take center stage as employment and inflation data show cooling. Do not confuse the economy with the markets.

Interest rates have been gradually coming down on longer term bonds and the “5% safe haven” has already evaporated.

Economic data and market clues: The Consumer price Index will be the biggest data point this week regarding the economy.Bank earnings will kick off the earnings season this week. While the banking sector is currently lagging the market, bank earnings are looked at closely for clues on the economy. Selected current holdings:Magnet®:Datadog DDOGGenerac GNRCPalantir PLTR FACTS:Amazon AMZNBlackRock BLKServiceNow NOW

Take a quick look at these old TV appearances from 2006. They share much of the same sentiment I have of today’s markets!

It’s summer- read a great investment book! Here is a short video where I highlight 10 of my favorites.

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