Stocks are relatively flat after a reported agreement to the framework of a new trade deal between China and U.S. — just keep in mind that this is far from over.
The truth about the trade deal is we don’t know much yet, this is just preliminary and we need more details before the market decides if it’s good or not.
The latest Consumer Price Index inflation report, rare earths, Tesla (TSLA), auto stocks and restaurants are the day’s other catalysts to move stocks.
The CPI came in at 2.4% year over year vs. expectations of 2.5% and a previous reading of 2.3%. Excluding more volatile food and energy prices, the number came in at 2.8% vs. expectations of 2.9% and a previous reading of 2.8%.
I’ll be watching the bond market (TLT) closely today because we need a breakout for stocks to really get moving.
Gold is still in a wait-and-see mode and I still like it while the U.S. dollar still isn’t moving…
I’ll cover all that, my daily hitlist of longs and shorts and more in this morning’s “Premarket Must Watch” video!
Roger Scott
Roger Scott Trading
Follow along and join the conversation for real-time analysis, trade ideas, market insights and more!
- Telegram: https://t.me/+_vmfwkeP8fA5YWQ5
- YouTube: https://www.youtube.com/@Roger-Scott/videos
- Instagram: https://www.instagram.com/thetradingpub/
- Facebook: https://www.facebook.com/TheTradingPubOfficial
- Twitter: https://twitter.com/Rogerscott1970
Important Note: No one from The TradingPub team or Roger Scott Trading will ever message you directly on Telegram.
P.S. Snag My No. 1 Stock for June – at No Cost to You!
The insiders on Wall Street are loading up on one stock right now…
And if everything goes just as planned, we could watch it surge double digits in the days ahead…
Want to see how you can snag it at no cost?
