Monday Market Open

No more Congress Trading ?

Author

Sean Conroy
July 29, 2024

Monday Market Open

Dear Winner,

Let me be the first to congratulate you on a successful weekend 🤝and another strong week coming.🎯

You are hungry for Alpha, I know. Before we sit down and feast, I must say, you have come to the right place - Monday Market Open.

LETS GO.

Market Indices & Commodities

Gold$2,393.17-0.13%
Copper$4.11-0.46%
Silver$28.14+0.15%
NASDAQ$17,357.88+1.03%
S&P 500$5,459.10+1.11%
TSX$22,814.81+0.91%
CSE Comp$165.65-0.01%

News
The Recap

In case you missed it, forgot, overslept, drank too much, were traveling, or whatever the case may be…

  • Bad week for tech stocks which put the Nasdaq and S&P in the red🔻

  • Tesla Stock tanked after earnings as they reported a 45% drop in profit last quarter 📉

  • CrowdStrike offers $10 gift card to apologize for crash 🎯

  • Google pledge to spend $50 million on AI 💸

  • Investors have been pouring money into bond funds before interest rates start to fall ✔

Graph of the Day
Earnings Earnings Earnings

News
This week

Another big week of news, economic data, events, the whole 9 yards. Get the scoop on what is important to know for this week.🎯

  • Monday - Nothing massive on Monday

  • Tuesday - Consumer Confidence, FHFA Housing Price Index, S&P Case-Shiller Home Price Index

  • Wednesday - ADP Employment Change, EIA Crude Oil Inventories, Employment Cost Index, FOMC Rate Decision, MBA Mortgage Applications Index, Pending Home Sales

  • Thursday - Construction Spending, Continuing Claims, EIA Natural Gas Inventories, Initial Claims, ISM Manufacturing Index, Productivity – Preliminary, Unit Labor Costs - Preliminary

  • Friday - Nonfarm Payrolls, Nonfarm Private Payrolls, Unemployment Rate, Average Hourly Earnings, Average Workweek, Factory Orders

Now You Know 
Congress Trading Ban

GIF by The Young Turks

Rick Scott, Nancy Pelosi, and other high-net-worth members of Congress on the Hill may have punched a hole in their monitor this morning when the Senate Governmental Affairs Committee voted to advance a ban on congressional stock trading on Wednesday. Congressional stock trading has been a hot and controversial topic as of late, catching the eyes of everyone.

So what happened ? Well, Fed up with the murky operations of Capitol Hill's stock trading machine, Senators Jon Ossoff, Tim Scott, and Gary Peters are leading the bipartisan charge among 11 senators who voted to advance a bill banning congressional stock trading.

For some background, the committee, which announced its plans last week, has approved a bill to prevent conflicts of interest and the misuse of insider information by prohibiting members of Congress, their spouses, and dependent children from trading individual stocks.

Could be the end of Nancy’s bull run ?

Thank You
That’s all Folks

Hey, thank you for checking out Monday Market Open. I hope you enjoyed it, learned something new, and are feeling ready to attack the week. Keep an eye on your inbox for more Alpha coming your way this week.

Cheers,