01Writing
A short read before the US open, every trading day: the moves that matter, the stories behind them, and what is on the calendar. Not financial advice.
Monday's close: 55 advancers but a flat index, oil up about 5% on Hormuz, six semis lower, three small-cap takeouts. CPI lands Wednesday 8:30 am ET.
Iran says direct U.S. talks are not underway even as headlines price a Hormuz deal. Plus Friday's software bid, Corsair's 35% margin move, and CPI Wednesday.
July non-farm payrolls land at 8:30 ET. Thursday closed with 62 of 100 large caps lower, and Datadog fell 19% on a beat-and-raise.
AMD beat on both lines and guided to about $13B — then closed down 7.04%. Shopify +16.98%, Lilly +4.86%, and large-cap breadth exactly 50 up, 50 down.
Palantir jumped 29% and Arm 17% as 77 of 100 large caps rose. Oil slid on Hormuz talk, and a Fed statement is scheduled for 2:00 pm ET.
The S&P 500 closed at 7,600.50, up 1.48%, with 71 of 100 large caps higher. Oil's rebound says the Iran de-escalation trade is not settled.
Friday split the market: Amazon and Alphabet ripped higher while Apple shed roughly $400 billion on supply guidance. Just 48 of 100 large caps advanced.