July 24, 2025

Markets:

S&P 500 futures were little changed early Thursday as Big Tech companies reported a mixed bag of earnings Wednesday and investors again turned their attention to the ongoing feud between President Donald Trump and the Federal Reserve.

Magnificent Seven megacap stocks Alphabet and Tesla reported their earnings after Wednesday’s bell.

Alphabet rose almost 4% after posting a second-quarter earnings and revenue beat, while Tesla was last down about 6% in volatile trading after investors were disappointed by a drop in auto revenue for the second straight quarter. IBM shares slipped nearly 6%, weighing on Dow futures, after the company’s second quarter software revenue missed expectations.

On the political front, the White House said that President Donald Trump will visit the Federal Reserve on Thursday, escalating his pressure campaign against Chairman Jerome Powell.

This is the first time in nearly two decades that an American president will be making an official trip to the central bank.

Portfolio:

We enter this beautiful new trading session holding setups in RR, RIVN, and MSTU.  

The market right now is extremely resilient navigating through the earnings season with every news digested and no bears to be found. Right now chips strength coupled by what we are seeing with the banks is what is driving the risk on sentiment in the market. Whats amazing to see is small caps now beginning to heat up as well.  Allow mega caps to deliver like GOOGL just did and throw in small caps and we have a market that can ignite!

Be on alert today but remain patient here.  Interested to see price flow now that we got through two monster earnings report and we really have nothing in the way of this market before next Tuesday.  Do we have a few headfakes?  A small shake out before the next move higher?  Let's see how we trade early on and digest price.  The overall market trend is firmly intact, it's the day to day swings we need to be careful with.