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Happy Wednesday Zingernation! Trading is a lot like going to a Baskin Robbins… you have 31 different flavors you can go with. You could build a portfolio of meme stocks and meme coins like me, you could build a diversified portfolio like Warren Buffett, or if you like to take on a little bit more risk, you could adopt Elon Musk’s investment strategy.

—Aaron Bry & Nic Chahine

Plus, want to make money in the markets using social media and influencer trends? Check out today’s partner.

MARKET SNAPSHOT

Yesterday: Tesla and led the day, closing up more than 10%, helping bring the S&P 500 and Nasdaq Composite near their all-time highs.

On Our Radar: Factory orders and ISM services at 10am ET and then at 2pm we will get minutes of Fed’s June FOMC meeting.

TOP STORY

Tesla Stock On Track To Extend 6-Session Winning Streak

Briefly: Tesla stock rose in premarket trading on Wednesday, signaling the possibility of it adding to its six-session winning streak.

So: On Tuesday, the stock tacked on 10.20% by the close and settled at $231.26, marking the highest level since Jan. 10. While a section of analysts expressed apprehension regarding the second straight quarterly sales drop, bulls on the Street said sales could have bottomed, positioning the company on track for a second-half rebound.

Basically: The reduction in inventories and strong stationary energy storage business also generated a positive reaction from analysts. Here’s where analysts see the stock going next.

PRESENTED BY IZEA

Influencers Are Driving Consumers To Discount Clubs And Major Retailers Like Costco, Finds IZEA’s Latest Survey

A recent survey by IZEA Worldwide Inc. highlights the significant impact of influencer marketing on consumer behavior in discount clubs and major retailers like Costco, Sam’s Club and BJ’s. The study reveals that 68% of consumers have a discount club membership, with 58% having purchased a product after seeing it used by an influencer. Short video content is particularly influential, especially among the 18-29 age group. For brands looking to boost sales through influencer partnerships, IZEA’s next-gen platform, IZEA Flex, offers the tools and analytics needed for successful campaigns. Discover more about IZEA’s services and read the full report on their website.

FIVE ZINGERS

Can’t Stop, Won’t Stop: The NASDAQ Composite hit a new high yesterday, with mega-cap stocks leading. And Fed rate cuts could be next.

Clash Of The Titans: Would you rather own Amazon or Apple stock over the next year? Here’s what the analysts say.

Poison Pill Time: Southwest Airlines is activating a poison pill strategy to try and stave off Elliott Management’s activist bid. Here’s what that means.

Cheers To That: Constellation Brand’s stock soared higher this morning after the Corona owner reported earnings in line with expectations.

Hot Swap: Following last week’s debate, crypto betters are bullish on Kamala Harris’s odds of being the Democratic presidential nominee.

ONE FOR THE ROAD

Private Employers Add 150,000 Jobs In June, Less Than Expected: Job Growth 'Solid, But Not Broad-Based'

Briefly: The pace of job creation in the U.S. private sector fell short of expectations in June, suggesting a slight easing in labor market conditions.

Basically: Private employers in the U.S. added 150,000 jobs last month, a decrease from upwardly the revised 157,000 jobs in May and below the forecasted 161,000 jobs, according to the latest ADP National Employment Report. It marks the third straight month of a reduced pace in the U.S. private employment growth.

So: This report – generated by Automated Data Processing Inc. using payroll data from over 500,000 companies and more than 25 million employees – provides an early snapshot of employment trends ahead of official jobs report from the Bureau of Labor Statistics. Here’s what the report means for the Fed’s interest rate policy.

PRESENTED BY BENZINGA

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