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Markets Continue to Inch Up, Ambarella Bounces Back


Today's financial recap and tomorrow's financial outlook.

Today on T3 Live

Jeff Cooper, Author of the 'Daily Market Report', looked at several stocks today. He initiated a long swing position in Taser International (TASR), said that an Ambarella (AMBA) snapback toward 106/107 would offer a good risk to reward short, and that a possible short on Palo Alto Networks (PANW).

Click here to learn more about the Daily Market Report

Market Recap

Markets gained slightly today amid the Greece situation.

Greek lawmakers spoke out against the harsh reforms proposed by Tsipras' government to its creditors. Greece promptly defended its reforms.

All major indices rallied around the 0.12% mark.

The Russell 2000 outperformed the major indices, finishing up 0.26%. The index closed just below its new 52-week high of $1295.99.

Bond yields rose slightly as investors sold off bonds.

Oil prices rose suddenly today as analysts expect US crude oil inventories to continue to drop.

The dollar rose against most major currencies.

Regional banking, and emerging markets were today's best performing sectors.

Social media, energy and consumer discretionary also performed well.

Utilities took a dive as yields rose. The Utilities Select Sector SPDR Fund (XLU) fell 1.36%.

Real estate, biotech, and consumer staples were down as well.

Ambarella (AMBA) picked itself up from yesterday's slump and rallied 8.41%.

Tesla (TSLA) rose 3.03% after it announced plans to turn around its weak performance in China.

Shopify (SHOP) lost its footing and tumbled 4.09%.

European markets continued their rally from yesterday. Germany's DAX closed up 0.72%, France's CAC rallied 1.18%, and Switzerland's Market Index gained 1.29%

European bond yields rose slightly.

Asian markets soared. The Nikkei surged 1.87%, while the Shanghai Composite jumped 2.19%, and the Hong Kong Hang Seng Index closed up 0.93%.

Wednesday's Financial Outlook

US economic data for tomorrow will include MBA Mortgage Applications, Gross Domestic Product & GDP Price Index, and Personal Consumption  & Core Consumption Expenditure, and DOE Oil Reports.

Overseas economic data will include Japan's Small Business Confidence, Swiss UBS Consumption Indicator, German IFO-Business Climate and IFO-Current Assessment, Britain's BBA Loans for House Purchase, and Australian Job Vacancies.

Lennar (LEN). and Monsanto (MON) will announce earnings before the open. Bed Bath & Beyond (BBBY), Worthington (WOR), and Steelcase (SCS) will report after the close.
No positions in stocks mentioned.
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