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Tackle Today: GDP and Big Tech Earnings

July 30, 2020

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It is an important day for the markets


It is a busy day in financial markets.  There was a handful of important economic reports that were reported this morning, including the Advanced GDP and weekly jobless claims.  Both reports paint a continued dire outlook for the state of the economy.  The Advanced GDP reported a -32.9% contraction quarter over quarter (the worst since they have started keeping track in 1947) and the weekly unemployment claims saw another 1.434 million people files for unemployment in the last week.

Markets are down, and there is a bearish tone to early trading, but the real important action may happen after the bell today when AAPL, AMZN, FB and GOOGL report their quarterly earnings.  This has been a news packed week, and the last 2 days will be the most important. 

When volatility picks up, it is important to remember to stick to your trading plans, continue to work your watch lists for new opportunities, and always follow your trading rules for your portfolio.

We have known the GDP was going to be terrible, and the report was in line with most economists’ projections.  The continued jobless claims are potentially more concerning, as the economy and jobs are simply not rebounding quickly.

Days like today are a reminder to do a portfolio stress test, double and triple check your leverage, risk, and portfolio design.  As always, join us in our live programming to listen into the coaches insight and get some help with any questions you have.


Chart of the Day

Advance GDP q/q

This morning, the advanced GDP data was reported by the Bureau of Economic Analysis.  Gross Domestic Product (GDP) contracted by -32.9% on a quarter over quarter basis. 

Video of the day

Trading Concept Check: Portfolio Design

Watch this quick video to help you make sure you understand the important concept of proper portfolio design for all your trading and investing strategies. Having the right portfolio design helps take all the guesswork out of asset allocation and position sizing by helping you become more systematic about your approach.

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.

Cashflow Club 8:30 PM EST

Held every Thursday before Friday’s option contract expirations, this show helps you perfect your favorite cashflow strategies.

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 Matt and Tim can deliver.

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