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Market Headlines 👀 

• US weekly jobless claims come in at 227; est: 236k.

• US retail sales came in +1% compared to the est of ; 0.3% MoM.

• S&P 500 (SPX) rally continues on strong retail sales and below estimated jobless claims, 6th straight green session.

• Pershing Capital Ackman’s hedge fund announced the changes to its portfolio, initiating a new position in Nike.

• Berkshire Hathaway (BRK.B) announces changes to their portfolio, Buffet initiates a position in Ulta Beauty.

• Lockheed Martin (LMT) announces acquisition of Terran Orbital a satellite and defense company.

• Alphabet (GOOGL) recently shared his thoughts on Nvidia and the AI infrastructure market going forward.

Earnings 💸

• Walmart (WMT)

  • EPS: $0.67 beats (exp. $0.65)

  • Revenue: $169.3b beats (exp. $168.5b)

• Alibaba (BABA)

  • EPS: ¥2.27 beats (exp. ¥2.12)

  • Revenue: ¥34.01b misses (exp. ¥34.95b)

• Grab Holdings (GRAB)

  • EPS: $0.01 meets (exp. $0.01)

  • Revenue: $664m misses (exp. $676m)

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S&P 500 Heatmap 🔥 

Recap Around the Street 🧠

If you're into Weinstein Stage Analysis, the SE weekly chart should have you licking your chops. After 2 full years of consolidation, this name is showing signs of life, as it recently gained, retested, and held the all-important 30-wk SMA. The next step in Weinstein's analysis would be an extension to a new high relative to the base high which would kick off Stage 2, the period when the most profits are made.(Contributed by Jason Krutzky of Trendspider )

Despite a wicked sell off that sent the $VIX to levels unseen since the COVID crash, the SPY has fired back in champion style, but what saved the struggling index? In fact, it was this year's average buyer, who held the line as their positions went back to break even. This is visualized by the Year-to-date Point of Control & Anchored VWAP, which acted in tandem as perfect support to stop the rout dead in its tracks.(Contributed by Jason Krutzky of Trendspider )

They say that insider sell for many reasons but only buy for one; because they think the stock is going higher. Well, Rocket Companies' insiders have not been shy about their bullishness, spending the last few months gobbling up shares. Now the stock is trading nearly 50% higher and insiders are laughing all the way to the bank. (Contributed by Jason Krutzky of Trendspider )

Market Preview 🎞️ 

• Powell speaks at Jackson hole desk week!

Enjoy reading?👇

That’s all for this week, folks! We’ll be back around the same time Tuesday with a curated list of important news, economic data and market highlights. 

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