The jobs report and congressional politics may matter more for markets than earnings in the week ahead
- About 1.4 million jobs were expected to have been added in July, and Friday’s employment report could be big for the markets since expectations for non-farm payrolls fall in a wide range.
- About a quarter of S&P 500 companies report earnings, but analysts say now that Big Tech has reported, the earnings season will be a less-important driver of markets in the coming week.
- Politics is moving to the foreground as Republicans and Democrats need to come together to approve a stimulus package that will help the millions of out-of-work Americans.
What I’m looking at this week
Intel Corporation (INTC) – Looking for a big rebound in this stock. Markets look strong somehow and if so this should be an EASY buy here.
Electronic Arts (EA) – Gaming has dominated in these times and I expect more of the same going forward. Looking for any pull back to get long this stock.
Wayfair (W) – What a resiliant stock. Shrugged off controversy like it was nothing. Now trading back at highs from before the controversy. Looking or another short opportunity in this over valued name.
Walmart (WMT) – May be the most steady stock in the DJIA to be honest. Looking for some dividend investing? Look no further than this baby!
Nikola Motors (NKLA) – This EV company may be a bit underrated here now due to it’s recent crash. I am looking for support to hold this week for re’longs to the moon!