Trading Plan – Monday 22nd April 2024: Looking for a big tech boost

Mark NugentApril 2024, Daily Alert

Trading Plan – Monday 22nd April 2024: Looking for a big tech boost

Good afternoon.

The first major business of the week is tomorrow where we see PMIs from the US, Germany, eurozone and the UK. These figures are important measures of economic health and can move the market.

Also, this week we have the first of the earnings reports from the so-called Magnificent Seven big tech stocks (Alphabet, Amazon, Apple, Nvidia, Meta, Microsoft, and Tesla). Tesla will report tomorrow, after the market closes in the US. Significant earnings growth is forecast and, if it comes to pass, could boost the S&P500 and Nasdaq which currently are well off their respective highs.

We see Tokyo CPI on Thursday and on Friday we end the week with the Fed’s chosen measure of inflation, Core PCE.

So, all-in-all, it’s a moderately exciting week. Just as I like it.

I’ll be back on Wednesday.

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