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Market Headlines 👀 

• US weekly jobless claims come in at 233k; est: 240k.

• US 30y mortgage rates hit its lowest yield in the past 15 months.

• US treasuries had a bond auction today, and were met with healthy demand.

• Apple (AAPL) announces a new Mac mini which will also include M-4 chips.

• Palantir (PLTR) shares rose on news of its partnership with Microsoft to help deliver critical AI services for national security operations.

Earnings 💸

• The Trade Desk (TTD)

  • EPS: $0.39 beats (exp. $0.35)

  • Revenue: $585m beats (exp. $580m)

• Datadog (DDOG)

  • EPS: $0.43 beats (exp. $0.37)

  • Revenue: $645.28m beats (exp. $624.92m)

A note from Earnings Hub 📣

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• Earnings Alerts delivered via Text or Email

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S&P 500 Heatmap 🔥 

Recap Around the Street 🧠

Despite over $2b being wiped from the US stock market on Monday with prices trading nearly 10% below the all-time high, the SPY index has managed to rally in profound fashion this week. While many are suggesting the lows are not yet in, sometimes it pays to do a little 'outside of the box' analysis. For example, try inverting the SPY daily and you'll see a clear falling wedge breakout with RSI confirmation. Can the lows hold or was this week the precursor to a larger downside move?(Contributed by Jason Krutzky of Trendspider )

Does NVDA have a date with the 200-day SMA? The key may lie in its P/E ratio. The 60x trailing P/E has been a critical support level this year, consistently attracting buyers. However, this benchmark now seems to be faltering, suggesting that investors might be reconsidering whether a 60x trailing P/E is a bit too steep for the semiconductor giant.(Contributed by Jason Krutzky of Trendspider )

When gauging where a stock price might bounce, it often helps to look back at significant breakout levels. After struggling to surpass the $200 spot for nearly a year, AAPL finally broke through in June with strong momentum. Unfortunately, such decisive moves can sideline many buyers. When the price returned to this level this week, shares were gobbled up, resulting in a significant bounce at the breakout point. Who says you don't get second chances in life? (Contributed by Jason Krutzky of Trendspider )

Enjoying these Trendspider charts? Be sure to check out there tools and if its something you want to add to your toolkit, you can use ONE50 for a 50% discount for our readers!

Market Preview 🎞️ 

• CPI data next week!

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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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