NDW Morning Pulse

Below are highlights from the NDW Morning Update Video for the morning of 07/30. Access the the video on the NDW Morning Update Video page. 

• Major equity markets moved lower over the past trading day, with the Dow Jones Industrial Average (.DJIA) declining 2.19% and the iShares MSCI Emerging Markets ETF (EEM) falling 2.07%.
• The Technology Select Sector SPDR Fund (XLK) continues to trade well below its recent highs. Meanwhile, improving relative strength within the healthcare sector has allowed healthcare to reclaim a higher position than technology in our DALI sector rankings, signaling a shift toward more defensive leadership across the market.
• The Invesco QQQ Trust (QQQ) remains under pressure and has continued to trend lower. The ETF is now down approximately 10% from its recent peak, officially entering correction territory. Much of this weakness has been driven by ongoing deterioration in the technology sector.
• U.S. GDP growth came in below expectations, with consensus estimates calling for approximately 2.1% growth versus an actual reading of 1.5%. The softer-than-expected economic data could create additional headwinds for growth-oriented sectors in the months ahead.
• Apple (AAPL), Amazon (AMZN), and Coinbase Global (COIN) are among the most closely watched companies scheduled to report earnings after the market close. From a technical perspective, AAPL maintains a strong TA score of 5/5 and continues to trade on multiple buy signals. In contrast, both AMZN and COIN carry weaker technical profiles, each holding a TA score of 1/5.