Closing Bell 07-08-2022

Published on: July 8, 2022 | Reading Time: 2 min | Last Modified: July 8, 2022


Market Summary

S&P 5003,899.38-3.24-0.08
Russel 2K1,769.36-0.24-0.01

Volatile day with essentially flat market. All indices had an awesome week. Better than expected job data eased investors mind of recession. I still think we are either already in one or moderate recession is unavoidable.

The big news in the market of Elon’s backing off from buying Twitter. Tesla stock has seen massive gains in the last few days. I am personally very happy with this news. Purchasing Tweeter at 44 Billion would have been a bad decision in many way. Other highlights of this news are -

  • Billionaire Elon Musk wants to end his $44 billion deal to buy Twitter.
  • Musk’s lawyer claimed Twitter failed to comply with its obligations in the merger agreement.
  • Twitter’s board chair Bret Taylor said the company is still committed to closing the deal at the agreed-upon price and plans to pursue legal action to enforce the agreement.

Chinese stimulus is in focus. I think China based stocks will be something that will shine in the short term. BABA, NIO and even Tesla will benefit from it. In addition, India and China are buying Russian oil and energy at 30 percent or more discount. This purchase makes manufacturing from these countries very cheap and their massive GDP growth.

If this is the next bull run, history dictates on average S&P growth about 13 percent after inflation flattens out. We are certainly hoping that is the case here.


  • Look for signs of market bottoming, which may have already happened.
  • Watch for inflation flatten up


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