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Position yourself accordingly.

PMI Data Release 10:00 AM

We receive PMI data at 10:00 AM today. Investors will be watching this closely and the market will move depending on how the number comes in.

Consensus is that the number will come in at 48.8, above last month’s reading of 48.5.

PMI is an index with 50 being average. So any reading under 50 signals contraction in manufacturing, while anything above 50 signals expansion.

We are looking for a low number because this will be another signal of the economy cooling off, warranting interest rate cuts.

We are essentially guaranteed a rate cut in September, so I don’t think that is in danger regardless of how this number comes in, but the market will absolutely move depending on the reading.

Also make sure to take note that AAPL AMZN INTC COIN DKNG ROKU SQ all report earnings after market close today.

These earnings will move the market tomorrow so make sure you are prepared for a volatile open tomorrow and that your risk is managed accordingly.