Friday was a mixed day on Wall Street.
Markets digested the latest Producer Price Index (PPI) inflation data.
Driven by services, prices increased…
- +0.3% month over month
- +0.8% year over year
Friday’s data was slightly higher than “expectations” but still below The Fed’s goal of 2%.
June’s figure was revised down from +0.1% to 0.0% month over month.
The indexes didn’t make any significant moves and ended the day mixed…
- Dow Jones +0.3%
- Nasdaq -0.7%
- S&P 500 -0.1%
- Russell 2000 +0.1%
Sector Round Up
Safer stocks were favored as the risk-on sectors finished with losses. 7 of the 11 sectors ended the day green.
At the top…
- Energy (XLE) +1.5%
- Healthcare (XLV) +0.6%
- Utilities (XLU) +0.6%
At the bottom…
- Consumer Discretionary (XLY) -0.3%
- Communications (XLC) -0.5%
- Technology (XLK) -0.7%
The S&P 500 continues to hold above a months-old support level…
Buyers are buying where you’d expect them to. All signs from a technical standpoint are bullish.
Your latest readout…
Earnings season continues this week with retailers.
Here are some of the names we’ll be watching…
- Home Depot (HD) reports Tuesday pre-market
- Target (TGT) Wednesday pre-market
- JD.com (JD) Wednesday pre-market
- Walmart (WMT) Thursday pre-market
*RETO support at $3
*DSP support at $5, resistance at $6
*CLEU on watch
*UIHC support at $7
GRPN support at $9
EYPT support at $13
AAOI support at $12
EH support at $20, resistance at $23
EZGO support at $2.25
NN on watch
TDUP support at $3.50
LAB support at $2.50
TDS support at $16
Secondary watchlist—float 100+ million
HLLY support at $7
EVLV support at $7
KTOS support at $16
RKT support at $11
BGC support at $5, resistance at $5.20