Daily Newsletter

Jul 25, 2023

Daily Newsletter | July 25, 2023

Written by Sean Horgan

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TLDR

MARKET RECAP → The party continued on Tuesday, with the Dow (DIA) extending its rally to 12 days (its longest winning streak in over six years). Nearly 130 S&P 500 (VOO) companies have reported Q2 earnings so far, with about 79% exceeding expectations, according to FactSet. Now all eyes are on the Fed’s interest rate decision tomorrow with investors overwhelmingly betting on a rate hike of 0.25%, and some surely hoping it is one of its last!

? STOCK MARKET STAYS STRONG→ Stock market defies recession signals, rallies on corporate earnings and global optimism!

? SPOTIFY REPORTS Q2 EARNINGS → Spotify’s (SPOT) stock dropped 14% today after reporting a disappointing Q2 earnings report.

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Sean Horgan

Head of Investor Relations @ MoneyLion

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Today’s S&P 500 Heatmap

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Source: finviz.com

Check out our own Jeff C. with a recap of last week’s Bull vs. Bear matchups! ??

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Today’s Top News

STOCK MARKET STAYS STRONG DESPITE RECESSION WARNINGS

? The stock market showed resilience and continued to rally despite recession signals.

? Experts believe that factors like strong corporate earnings

and optimism for economic recovery helped fuel the market’s upward trend.

? Investors remained optimistic about the global economic outlook, contributing to the stock market’s upward momentum.

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Source: shutterstock

SHARES OF SPOTIFY FALL AFTER REPORTING Q2 EARNINGS

? Spotify’s (SPOT) shares dropped due to weak guidance and missed revenue estimates.

? Revenue increased by 11% YoY, reaching $3.16 billion.

? Q3 revenue is projected be at $3.3 billion, below the $3.4 billion analysts expected. Recent price hikes will have minimal impact on Q3 revenue.

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Source: shutterstock

Keep Reading

What Markets Are Saying About the Fight Against Inflation (WSJ)

TikTok takes on Spotify, Apple Music as it expands into music streaming (CNBC)

At Startup That Says Its AI Writes Medical Records, Humans Do a Lot of the Work (WSJ)

Joe Burrow Signs Multiyear Deal With Coca-Cola’s Bodyarmor Drink (Bloomberg)

Chevy Bolt EV Returns From Near-Death as GM Prepares New Model (Bloomberg)

And if you want more, be sure to check out the MoneyLion blog for tips, hacks and all things money (Moneylife)

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Written by Sean Horgan

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