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August 10, 2024 | Tech Talk for Saturday August 10th 2024

Don Vialoux

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Donald Vialoux is author of the free blog Tech Talk, a daily investment report available during the past 20 years at www.timingthemarket.ca. Comments focus on the seasonal and technical outlook for equity indices, commodities and sectors. Mr. Vialoux has 53 years of experience in the investment industry and is a past president of the Canadian Society of Technical Analysts (CSTA).

The Bottom Line

Focus this week is on U.S. inflation and its impact on U.S. interest rates. Growth in Producer and Consumer Prices on a year-over-year basis continues to trend down, but at a lower rate. Traders will watch closely the July PPI report on Tuesday and the July CPI report on Wednesday.

Second quarter results released to date by S&P 500 companies have been a pleasant surprise, nicely exceeding estimates offered since the second week in July. Consensus estimates for the remainder of 2024 were lowered slightly last week, but continue to show accelerating earnings growth beyond the third quarter.

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August 10th, 2024

Posted In: Tech Talk

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