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📣 The Daily Breakdown from Bret Kenwell @Bretman, eToro's investment and Options Analyst 🗓️ Tuesday's TLDR — September 3, 2024 🧐 Friday’s jobs report is a huge focus this week. 📊 Broadcom, Nio on watch for earnings too. 🛒 TJX stock dips after rallying to record highs. ✳️ Weekly Outlook US investors are looking to kick off the trading week on Tuesday, as the $SPX500 sits less than 1% from its all-time high and after the $DJ30 hit a fresh record high on Friday. As we kick off the week, things start slow but accelerate into Friday. Later today, we’ll get an economic update with an ISM report, while companies like $ZS (Zscaler Inc) and $GTLB (GitLab) will report earnings tonight. Earnings will pick up on Wednesday, with companies like $DKS (Dicks Sporting Goods Inc), $DLTR (Dollar Tree Inc), $AI (C3.ai Inc.), $HPE (Hewlett Packard Enterprise Co), and $CHPT (Chargepoint Holdings Inc.) reporting. We’ll also get the JOLTs report before the open, which is a monthly economic report on job openings, hires, and separations. On Thursday, we’ll get a few other labor-related reports (like the weekly jobless claims number), as well as earnings from companies like $NIO (Nio Inc.-ADR) and $AVGO (Broadcom Inc) The fireworks were saved for Friday, with the monthly jobs report due up before the open. Remember, last month’s report came much lower than economists had expected, causing some panic about the economy. Keep this date circled on your calendar, as the monthly jobs report — which includes jobs growth and the unemployment rate — will be a big focus ahead of the Fed meeting later this month. ✳️ The setup — $TJX (TJX Companies Inc) TJX Companies recently hit all-time highs after the firm delivered another strong quarter. After a big rally, we’re now seeing some short-term profit taking. That has me watching the $115 area, which was the prior high before TJX’s earnings rally. It’s also where the 21-day moving average comes into play. (Chart below as of the close on August 30, 2024. Source: eToro ProCharts, courtesy of TradingView.) As long as the $113 to $115 zone holds as support, bulls can maintain momentum. If this zone fails and TJX continues lower though, momentum could shift into the bears’ favor. On a fundamental basis, analysts expect roughly 8% earnings growth this year on modest sales growth, but expectations call for an acceleration in both metrics next year. Currently, shares trade at about 28 times this year’s expected earnings. ✳️ Options On a dip, buying calls or call spreads may be one way to take advantage of a pullback. For call buyers, it may be advantageous to make sure they have adequate time until the option’s expiration. For those that aren’t feeling so bullish or who are looking for a deeper pullback, puts or put spreads could be one way to take advantage. To learn more about options, consider visiting the eToro Academy: www.etoro.com/en-us/academy/courses/options-trading/ 👀 What Wall Street is watching 👀 $TSLA (Tesla Motors, Inc.) Tesla's China-made EV sales grew 3% in August year over year, with Model 3 and Model Y deliveries up 17% from July, according to CPCA. Meanwhile, BYD saw a 35.3% jump in sales, hitting a record high of 370,854 units. $INTC (Intel) Intel gained more than 9% on Friday, with the stock hitting its highest level since shares plunged in early August after disappointing quarterly results. Remember, the stock fell more than 26% in a single session after that report, as disappointment mounts over the firm’s growth. Despite Friday’s rally, shares remain lower by 56.2% so far this year. 🔎 📚 Are your investments in line with today's news? Check your portfolio on eToro to make sure you aren't missing any opportunities. Disclaimer: Please note that due to market volatility, some of the prices may have already been reached and scenarios played out. Content, research, tools, and stock symbols displayed are for educational purposes only and do not imply a recommendation or solicitation to engage in any specific investment strategy. All investments involve risk, losses may exceed the amount of principal invested, and past performance does not guarantee future results. Options involve risk and are not suitable for all investors. Please review the Characteristics and Risks of Standardized Options (etoro.tw/45gblCj) prior to engaging in options trading.