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Market Review:
Earnings Season:
Tomorrow morning AXP kicks off earnings season in earnest. It is followed next week with Tuesday, Wednesday and Thursday, increasing the number of companies reporting earnings. Add to the mix a statement from the FOMC. The FOMC is likely to raise rates on July 26, but the question becomes what happens next. Amid all this volatility, we can expect the market to be a little excitable.
That excitable nature of the market should open opportunities in trading. The big three credit card companies, AXP, V, and MA all report within the next 8 days. The FOMC comes in on July 26. Inflation, credit, and the spending of the American consumer take center stage. Where better to focus trades during this time than precious metals. If you missed it, check out last night's Midweek Market Update with Tom Busby at https://vimeo.com/846801920/98c977372a
AXP reports before the bell tomorrow morning. V and MA follow up in the middle of next week. AXP opened the year at 149.54. They opened the quarter at 174.30. AXP's high of the year, 182.15, was set on February 14. The high for July has been 178.79. It was set yesterday. We know that debt is building. How are transactions progressing? AXP then next week's V and MA reports tell us about transactions.
Past performance is not indicative of future results. Futures trading involves substantial financial risk.
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