wo titans of Wallstreetbets, Martin Shkreli and Matt Kohrs are engaged in a battle to the death over who is the better trader. They each started with $50,000. First to double their money, or last to lose it all wins. You can track that “Trade War” here!

Shkreli vs. Kohrs

Weekend News

Fed to Hike 75 Basis Points - Officials at the Fed have reaffirmed their 75 basis point rate hike rather than a larger one for Thursday's meeting. Quantitative Easing will also continue, but only in treasury securities. Despite announcing QT, the Fed has continued its purchases of MBS and the balance sheet expanded by nearly $3.3bn last week.

Crypto Volume Tumbles - Volumes have declined more than 15% since May to around $4.2 trillion and reaching the lowest since January of last year. June alone saw spot volumes drop nearly 28% to $1.41 trillion as Bitcoin tumbled, the lowest since December 2020, according to data compiled by CryptoCompare.

Market Wrap

Stocks rose last 2.6% week, adding to a 9% run for the S&P 500. But equities are still down 17% for the year.

Prior bear markets have featured big rallies too. While they didn’t mark the end, they did provide a reason to remain invested and to reevaluate portfolios. The last rally gave us reason to add to some recession proof names like Conagra, or interesting opportunities like the Chicago Mercantile Exchange.

Key Commodity Prices Since JanuarySource: Edward Jones

Commodity prices fell sharply in recent weeks, which will provide relief in the next inflation report. Agricultural commodities such as wheat, corn and soybeans are also down materially. Ukraine and Russia signed a UN-supported deal last week that will allow Ukrainian grain exports to resume through the Black Sea.

Inflation pressures won’t subside immediately, but additional data shows better news for consumer prices. Wage growth is still healthy but has moderated. Markets will likely be mixed this week going into Thursday's expected 75 basis point rate hike, and a possibly disappointing set of tech earnings.

Tendies Options Flow

Sentiment continues to be mixed, but bullish action on the Q's and individual tech names like Amazon ($AMZN) prevailed. A few orders on Sierra Wireless ($SWIR) make us wonder, is something there?

Only Degenerates and its analysts have no position in any of the companies mentioned. This article is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.

Jul 25, 2022
Weekend Wrap

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