THIS IS JUST THE BEGINNING

Summary

Today's stock market saw a mixed bag with 57% of S&P 500 stocks closing green, yet a choppy day overall. Chewy's stock price surged by 34% due to a tweet from the GameStop frenzy instigator, Roaring Kitty, before retreating. The Presidential debate between Biden and Trump may influence certain stocks, including Trump's social media company, DJT. Walgreens hit a low not seen since 1997 after a poor earnings report. Economic data, specifically the PCE inflation data, is set to release and could significantly impact the market. Key stocks to watch include CRM, CMG, and others in sectors affected by political discussions.

Takeaways

• 📈 The S&P 500 had a mixed day with 57% of stocks closing higher, but overall the market was described as choppy, slow, and somewhat boring.
• 🐶 Chewy's stock price surged by 34% temporarily due to a tweet from 'Roaring Kitty', the influencer behind the GameStop hype, which led to speculation and excitement among traders.
• 🛍️ Chewy also announced a $500 million share buyback, signaling confidence in the company's future and potentially supporting bullish sentiment.
• 📉 In contrast, Walgreens stock hit its lowest point since 1997 after a poor earnings report, indicating significant challenges for the company.
• 🗳️ The presidential debate between Biden and Trump was highlighted as an event that could impact certain stocks, with the stock symbol 'DJT' associated with Trump's social media company being particularly watched for volatility.
• 💊 The marijuana industry, represented by stocks like CGC, TLRY, and MSOS, could also react to political discussions during the debate, affecting their stock prices.
• 🛫 Stocks related to military and defense, such as RTX and LMT, may see volatility if there are significant geopolitical statements during the debate.
• 👟 Nike's earnings report led to a decline in stock price despite beating on EPS, as the market reacted negatively to missed revenue expectations.
• 📊 Important economic data, specifically the PCE inflation data, is due for release before the market opens the next day, which could influence market sentiment and price action.
• 📈 CRM showed strong upward momentum, with software stocks in general performing well, making it a stock to watch for continued bullish moves.
• 📉 CMG (Chipotle) experienced consistent downward price action after a stock split, presenting potential short-term trading opportunities to the downside.

Q & A

What percentage of stocks in the S&P 500 closed up in the green according to the video transcript?

Approximately 57% of stocks in the S&P 500 closed up in the green.

Which stock experienced a significant price movement due to a social media post?

Chewy's stock price moved significantly higher by 34% due to a dog picture posted by Roaring Kitty, who is known for his influence on GameStop's stock price.

What was the unusual event that caused Chewy's stock to spike temporarily?

Chewy's stock spiked temporarily due to speculation and hype generated by a dog picture posted on Twitter by Roaring Kitty, which led many to believe he was bullish on Chewy.

What announcement did Chewy make regarding their shares?

Chewy announced that they are going to be buying back $500 million worth of their shares, which is generally seen as a positive sign for the company.

What major political event is mentioned as having potential implications for certain stocks?

The presidential debate between Biden and Trump is mentioned as an event that could have implications for a handful of stocks.

Which stock symbol is associated with Trump's social media company and is known for its volatility?

The stock symbol DJT is associated with Trump's social media company, Truth Social, and is known for its extreme volatility.

What economic data is set to release before the market opens the next day, and why is it important?

The PCE data, which is an important inflation indicator, is set to release 1 hour before the market opens the next day. It is important because it can significantly influence market sentiment and price action.

How did Walgreens perform in terms of stock price, and what is its historical significance?

Walgreens' stock price tanked on earnings and reached its lowest point since 1997, marking a significant historical low for the company.

What is the significance of the stock split for Chipotle, and how might it affect its price action?

Chipotle completed a 50-to-1 stock split, which is significant and could lead to profit-taking and potential pullbacks, especially given the stock's substantial gains in recent times.

What is the ticker symbol for the ETF that holds a bunch of solar stocks, and what is its current situation?

The ticker symbol for the ETF that holds a bunch of solar stocks is T. It is currently at a significant support area around the $40 level and has been trying to move to the upside in the short term.

What is the advice given for trading the next day, and what is the importance of this advice?

The advice given is to trade smartly, have a plan before entering a trade, know where the stop loss is, and follow the money. This advice is important as it emphasizes the need for proper risk management and a strategic approach to trading, which can lead to long-term growth in an investor's account.