Tackle Today: Earnings Season is Here!
July 17, 2023
Check out Macro Monday on the Halftime Report
Earnings season kicks into gear this week with Tesla and Netflix headlining a cross section of companies that span across all sectors. Other notable names reporting this week include American Express, Lockheed Martin, Bank of American among many others. Earnings should be the central theme in the coming weeks and how companies perform and their guidance for the future will be a significant factor in determining the short-term sentiment in the market. There are always great individual trades that emerge out of earnings so be on the lookout for those setups.
We know the numbers on the special rebalance of the NASDAQ 100 now. The weight of the Mag 7 will be reduced 56% to 44% in a slight trim. Apple and Microsoft will remain the largest constituents in the index and Broadcom will get the biggest bump. The changes will take place July 24th. Tech is leading again today which has been a common theme in 2023 and that trend has been notable again since the CPI data that came out last week.
In other news to start the week, commodities are stuck in mud today after a lackluster GDP print out of China while youth unemployment hit a new record high, Empire State Manufacturing came is slightly better than expectations, Russia terminated the Black Sea Grain deal, Mission Impossible underperformed opening weekend expectations, and The Fed is entering their blackout period ahead of their meeting next week. We will break it all down on a Macro Monday edition of the Halftime Report!
Chart of the Day: JP Morgan (JPM)
Earnings can provide a lot of landmines but after companies report can provide a lot of nice patterns. One such pattern is JP Morgan who reported on Friday and is breaking out of a multi-month consolidation pattern.
Today’s lineup
Traders Lounge 11 AM EST
Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.
Halftime Report 12:30 PM EST
The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day, and fun in a way that only the Coaches at Tackle Trading can deliver.
Weekend Reports
Watch the Stock, Options, Commodity, and Tackle Newsletter Reports to help you prepare for the week.
Financial freedom is a journey
Sign up now and gain unfettered access to all of the quality content and powerful Scouting Reports that our Pro Members enjoy for 15-days absolutely free with no strings attached and let us show you what your trading has been missing.
Legal Disclaimer
Tackle Trading LLC (“Tackle Trading”) is providing this website and any related materials, including newsletters, blog posts, videos, social media postings and any other communications (collectively, the “Materials”) on an “as-is” basis. This means that although Tackle Trading strives to make the information accurate, thorough and current, neither Tackle Trading nor the author(s) of the Materials or the moderators guarantee or warrant the Materials or accept liability for any damage, loss or expense arising from the use of the Materials, whether based in tort, contract, or otherwise. Tackle Trading is providing the Materials for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options or other financial instrument transactions are for illustrative purposes only and are not intended to represent specific trades or transactions that we have conducted. In fact, for the purpose of illustration, we may use examples that are different from or contrary to transactions we have conducted or positions we hold. Furthermore, this website and any information or training herein are not intended as a solicitation for any future relationship, business or otherwise, between the users and the moderators. No express or implied warranties are being made with respect to these services and products. By using the Materials, each user agrees to indemnify and hold Tackle Trading harmless from all losses, expenses and costs, including reasonable attorneys’ fees, arising out of or resulting from user’s use of the Materials. In no event shall Tackle Trading or the author(s) or moderators be liable for any direct, special, consequential or incidental damages arising out of or related to the Materials. If this limitation on damages is not enforceable in some states, the total amount of Tackle Trading’s liability to the user or others shall not exceed the amount paid by the user for such Materials.
All investing and trading in the securities market involves a high degree of risk. Any decisions to place trades in the financial markets, including trading in stocks, options or other financial instruments, is a personal decision that should only be made after conducting thorough independent research, including a personal risk and financial assessment, and prior consultation with the user’s investment, legal, tax and accounting advisers, to determine whether such trading or investment is appropriate for that user.
