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| |  | | July 12, 2024 | | Daily Notes Dear Leah, Welcome to our end-of-the-week wrapup, where we break down the past week in "Daily Notes." What follows is a brief rundown of each day's notes, so you can quickly stay in the know. You can read each issue in full – including my “Idea of the Day,” Market Health Check, updates on our current model portfolio, and more – at your Innovation Investor subscriber site.
Monday, July 8 - Consumer inflation expectations retreated again in June, according to the New York Fed.
- Thursday's CPI report is expected to re-confirm the disinflation trend.
- Analysts are revising their profit estimates higher ahead of the Q2 earnings season.
- Earnings growth is expected to strengthen over the next 12 months.
- The earnings growth ramp will be most pronounced in the "other guys".
- Strong quarterly numbers from Corning provide support for continued AI Builder strength.
You can read these notes in full here. Tuesday, July 9 - The S&P 500 is currently very overbought, and that suggests further upside into late summer.
- The market is prepped for big moves later this week.
- Inflation swaps suggest inflation will keep falling through the next few months.
You can read these notes in full here. Wednesday, July 10 - The stock market absolutely soared today in anticipation of tomorrow's June Consumer Price Index report.
- Traders expect will be quite soft – and, importantly, soft enough to confirm the Fed's first rate-cut in late summer (either July or September).
- To be sure, the market is quite overextended right now.
You can read these notes in full here. Thursday, July 11 - Today was a very important day for the markets and one which we think sets our portfolios up for huge success over the next few months.
- We got some clarity today, and with it, the Great Broadening of 2024 began.
You can read these notes in full here. Friday, July 12 - It was yet another fantastic day for the markets, with the Great Broadening evolving into an Everything Rally today.
- On the back of relatively soft Producer Price inflation data and soft consumer sentiment numbers – the sum of which pushed rate cut odds for September to nearly 99% at one point today.
- We think they'll both rally together for the foreseeable future, too, as inflation continues to soften, rate-cuts come into better view, and the earnings outlook improves.
You can read these notes in full here.
Go to Your Subscriber Site |  | | Luke Lango
Editor, Innovation Investor Click here to access Innovation Investor’s Special Report archive.
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To cancel your service, please call the number in the footer below. P.S. Last week, I sat down with InvestorPlace Editor in Chief Luis Hernandez and Senior Investment Analysts Eric Fry and Louis Navellier for a midyear Omnia Roundtable . Omnia is the most exclusive membership level InvestorPlace offers. It gives you full lifetime access to every single one of InvestorPlace's premium subscription services and many other extra benefits not available to regular subscribers. While they are typically reserved for Omnia members, we wanted to share our latest one with you today. During our midyear Omnia Roundtable, we talked about what happened in the market so far in 2024… and what we each believe investors can expect for the rest of the year. Go here now to watch the video (or read the transcript). | | | | |
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