July 23, 2025

Markets:

Stock futures rose Wednesday after President Donald Trump announced the U.S. had reached a trade deal with Japan, lifting hope for further agreements being made.

Trump said in a Truth Social post Tuesday night that the U.S. had completed a “massive Deal” with Japan. The agreement includes “reciprocal” tariffs of 15% on the nation’s exports to the U.S. The president also said the U.S. is meeting with European officials in a push to reach a trade deal with the European Union.

The U.S. has been pushing to reach trade deals with other countries ahead of an Aug. 1 deadline. This comes after Trump on April 2 sent markets into turmoil, with his announcement of sweeping tariffs.

Investors are awaiting earnings from Alphabet and Tesla expected Wednesday after the bell. They are the first reports of the earnings season from the megacap technology sector, a group that’s been closely watched given its market leadership in recent years.

On the economics front, traders will follow existing home sales data due Wednesday morning.

Portfolio:

Over the next two days we will begin to receive monster earning reports that will be sure to drive the market and their respective sectors in the short term.  Tonight we receive GOOGL and TSLA.  Tomorrow we have INTC.  Even ServiceNow will provide great insight into tech services.

Something else to keep in mind is FOMC on 7/30 and tariff deadline still 8/1, although headlines showing 8/9 possible extension.  

Next week we also receive monster big tech earnings report.  The week is truly shaping up.  Once we get past this, the next runway begins.

No changes needed in current holdings of RIVN and MSTU.  Queue is igniting but we want to remain as patient as possible.  There has been extraordinary amount of flow in small caps right now.  We want to see if this continues as IWM was always lagging.  Once this begins it's breakout, this market will have all the ingredients to truly get explosive.  This period will come, it's just a matter of when.