To The Moon

*U.S. small-cap stocks outperform large-cap stocks again; China is about to hold the Third Plenary Session

🇺🇸 S&P 500: 0.55% 📈

🇺🇸 Nasdaq: 0.63% 📈

🇪🇺 Stoxx 600: 0.88% 📈

🇯🇵 Nikkei 225 Index: -2.45% 📉

🇭🇰 Hang Seng Index: 2.59% 📈

🇨🇳 CSI 300 Index: 0.27% 📈

* U.S. stocks rebounded on Friday, with the S&P 500 $S&P 500(.SPX)$  $SPDR S&P 500 ETF Trust(SPY)$  and Nasdaq Composite $Nasdaq100 Bull 3X ETF(TQQQ)$ both up 0.6% and hovering near record highs, while small-cap stocks once again outperformed large-cap stocks, with the Russell 2000 rising 1.1% as investors Attention turns to earnings season.

* U.S. producer prices rose 2.6% year-on-year in June (forecast: 2.3% year-on-year), up from 2.4% the previous month, mainly due to higher services prices.

* The preliminary University of Michigan consumer confidence index fell for the fourth consecutive month to 66.0 in July (forecast: 68.5), reaching its lowest level since November as consumers remained concerned about remaining high prices.

* Stock markets in the Asia-Pacific region were mixed. Hong Kong's Hang Seng Index soared 2.6% after U.S. inflation cooled. Investors focused on China's Third Plenary Session, which opened today, while the Nikkei 225 Index plunged -2.5% after suspected Japanese yen intervention. , the yen rose 3% against the dollar on Thursday.

💡 Future events: 💡

* On Monday, we will see the release of Chinese economic growth data (GDP), industrial production, fixed asset investment and retail sales.

* U.S. core retail sales and retail sales data are due out on Tuesday.

* On Thursday, Japanese trade data, US unemployment benefits applications, and EU interest rate decisions will be the focus of investors' attention.

💡 Things you need to know today: 💡

1. Former US President Donald Trump survived an assassination attempt during a campaign speech in Pennsylvania over the weekend, a crucial moment as he was about to accept the formal nomination as the Republican presidential nominee. $TRUMP MEDIA & TECHNOLOGY GROUP CORP(DJT)$  

Donald Trump assault

2. Elon Musk publicly supported Donald Trump in the US presidential election for the first time. He posted on his social media platform X: “I fully support President Trump, Hope he recovers soon."

Elon X Trump

3. The much-anticipated China Policy Conference, also known as the Third Plenum, is an important gathering of top members of China's ruling Communist Party that usually takes place every five years and is scheduled to take place from Monday to Thursday.

Third Plenum China 2024

4. Jamie Dimon, CEO of JPMorgan Chase $JPMorgan Chase(JPM)$  : “There has been some progress in lowering inflation, but we still have multiple inflationary forces ahead of us: large fiscal deficits, infrastructure needs, trade Restructuring and remilitarization of the world, inflation and interest rates are therefore likely to be higher than market expectations.”

5. The yen rose nearly 3% against the U.S. dollar late on Thursday, sparking speculation of monetary intervention by the Japanese government as daily current account balance data released by the Bank of Japan on Friday predicted a 3.17 trillion yen drop on July 16 of funding, a surprising gap compared to earlier forecasts.

✅ KEY TAKEAWAYS:

The market rotation continues, with investors considering whether to choose large tech companies that have driven positive market returns for more than a year, or less popular areas of the market that could benefit from looser monetary policy.

@Daily_Discussion  @TigerStars  @CaptainTiger  @MillionaireTiger  @Tiger_comments  @TigerGPT