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PreMarket Prep
All Eyes Turn To Inflation
Aug 12, 2024
Joe Saluzzi from Themis Trading shares his expertise on the current market trends, emphasizing the significant impact of inflation on consumer goods. He discusses the recent surge in KeyCorp's stock, triggered by a major investment, and compares Starbucks' challenges to McDonald's strategies in the coffee wars. The conversation also touches on Nvidia's recovery potential and the broader implications of upcoming inflation data on stock prices. Saluzzi's insights offer a keen perspective on navigating today's complex trading landscape.
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Quick takeaways
- Market sentiment shows cautious optimism as traders prepare for critical inflation data like PPI and CPI this week.
- Consumer behavior trends indicate a shift towards cost-effectiveness, impacting spending patterns and expectations for retail earnings reports.
Deep dives
Market Outlook Following Recent Volatility
Last week witnessed a significant market downturn, reminiscent of the turbulence experienced during the COVID-19 crash, primarily driven by concerns over the Japanese yen carry trade and a spike in the VIX. However, the atmosphere appears more stable as traders prepare for upcoming inflation data, including the Producer Price Index (PPI) and Consumer Price Index (CPI). Despite the previous week’s chaos, the major indices were trading slightly higher in pre-market sessions, reflecting a cautious optimism among investors. The market seems poised for a rocky week ahead, with all eyes on inflation trends that could steer market direction.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode