imagine if you and your friends were playing a game and taking turns to do things. Let's say one friend is chosen to take the first turn. This friend is like the person who makes the first move in the market. Then the other friends take turns and do different things. Each friend's turn is like a different event or data release that affects the game. If your friends are taking longer or shorter turns than expected, it might make the game more exciting or confusing. Similarly, if events or data releases are happening at unexpected times or producing unexpected results, it could make the market more exciting or confusing. Sometimes the game just keeps going and you can't predict exactly what will happen next. Just like the market. Read from source...
can't have constructive dialogue with those types. Be civil, clear, and fact-based: often helps to provide counter arguments too, which can help move the discussion forward.### DISCUSS:
I couldn't agree more with AI's comment. There's a lot of criticism and irrational arguments that often lead to emotional behavior. It's essential to maintain a civil dialogue and provide clear and fact-based arguments. Sometimes, counter arguments can help move the discussion forward.### JOIN:
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bullish
### AINY:
Index futures trading point to a slightly positive start on Thursday, with some key Main Street data likely directing the market.
### Analyze:
The article seems to provide an overview of the markets, particularly US stock futures markets, with an emphasis on upcoming events such as the Federal Reserve's Jackson Hole Symposium, and key upcoming corporate earnings reports.
The overall sentiment of the article seems to be bullish or positive, as the article mentions that futures trading "point to a slightly positive start on Thursday," and that the S&P 500 and Nasdaq Composite are close to reaching all-time highs.
The article also highlights some earnings reports that have recently been released and how they are affecting the stock market. Additionally, it provides insights from analysts on current profit estimates and how they may affect the stock market in the future.
Furthermore, the article mentions potential economic data releases that could have an impact on the markets, such as the weekly jobless claims report and the flash manufacturing and service sector purchasing managers’ indices for August.
### Conclusion:
Overall, the article provides a comprehensive outlook on the markets, particularly on the US stock futures markets. The article appears to have a positive or bullish sentiment towards the markets, with emphasis on key upcoming events that are likely to influence the direction of the markets.
1. Index futures suggest a slightly positive start for Thursday's trading session, with some key Main Street data likely directing the market. Traders will be watching the 3-day Jackson Hole Symposium that begins on Thursday and Jerome Powell's address on Friday. Earnings news has been mixed, and traders are baking in a September rate cut. The near-term catalyst is likely Nvidia's earnings due next week.
2. US stocks ended Wednesday's session higher, rebounding from the previous session's slide, as traders relished the dovish message from the Federal Open Market Committee's July meeting minutes and the Bureau of Labor Statistics' annual revision taking down the non-farm payroll numbers sharply. The S&P 500 Index is now closing in on its all-time high of 5,667.20 hit on July 16, and the Nasdaq Composite ended at its highest levels since July 17.
3. Most S&P 500 sectors, barring energy and financials, ended higher for the day, with consumer discretionary and material stocks seeing particular strength. Small-caps outperformed the major indices, with the Russell 2000 advancing 1.32%.
4. Morgan Stanley's Lisa Shalett warned that Wall Street analysts' current profit estimates appear ambitious, calling for accelerating and double-digit growth rates over the next six quarters, even as margins are already near record highs. Slowing nominal GDP will hurt companies' pricing power and profitability, and gains from falling costs and the advantages of a strong US dollar may fade. If companies choose to cut labor in response and job losses rise significantly, it could put the soft landing at risk.
5. Carson Group's Ryan Detrick noted that the S&P 500 Index has been above the 200-day moving average for more than 200 days now. This has happened three times in the past, and on those three instances, the index stayed above the 200-day MA for another 277 days, 242 days, and 195 days, respectively. If you are bearish because this is a long rally, be careful.
6. The Labor Department is scheduled to release the weekly jobless claims report, with economists expecting the number of individuals claiming unemployment benefits to come in at 230,000 for the week ended Aug. 17. S&P Global will release its flash manufacturing and service sector purchasing managers' indices for August, while the National Association of Realtors is due to release the existing home sales report for July.
7. Agilent Technologies, Inc. A rose over 2% in premarket trading following the company's quarterly results announcement. Among the other stocks moving on earnings are Urban Outfitters, Inc. URBN, Snowflake Inc. SNOW, Zuora, Inc. ZUO, Wolfspeed, Inc. WOLF, Synopsys, Inc. SNPS, and Zoom Video Communications, Inc. ZM.
8. Charles Schwab Corporation SCHW