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Happy Friday Zingernation! The NFL preseason kicked off last night, which means it’s time for me to lock in and start studying rosters and mock drafts for my fantasy league. And while I’m focused on which players will outperform their expectations, Morgan Stanley is highlighting which tech stocks will outperform the market. Plus, three high-yield energy stocks to check out.

—Aaron Bry & Nic Chahine

Plus, want to start trading with someone else’s money? Check out today’s partner.

MARKET SNAPSHOT

Last Week: Was the most volatile week in markets since the COVID-19 crash, but we made it through it! Major indices closed the week higher after a wicked sell-off on Monday.

On Our Radar: A very quiet Monday, at least compared to last Monday, but inflation data is on the way with PPI tomorrow followed by CPI on Wednesday. Depending on the numbers, volatility may be coming back.

TOP STORY

Nasdaq, S&P 500 Futures Climb After Volatile Week As Traders Eye Inflation Data and Retail Earnings

Basically: The resilience of the market was in full display on Monday after last week’s “historical comeback” by the market.

So: The major index futures traded higher, albeit by a modest magnitude. The yen weakened amid a stock market holiday in Japan and this should serve to keep the carry trade unwinding fears in check. With CPI data on the horizon, one analyst says to watch this economic data point instead.

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FIVE ZINGERS

Two’s A Crowd: Starboard joined Elliott Management as an activist investor in Starbucks. Here’s what it means for the beaten-down coffee giant.

Getting Back With Your ‘X’: $DJT shares moved lower Monday morning as Donald Trump appears to be warming up to the idea of a return to X.

No Case Of The Mondays Here: Monday.com reported earnings this morning, beating both EPS and revenue estimates as well as raising guidance.

Big Upgrade For Big Pharma: Eli Lilly got an upgrade from Deutsche Bank which raised its price target for $LLY to over $1,000 a share.

A $KEY Reversal: KeyCorp shares shot higher this morning on reports that Scotiabank is paying $2.8 billion for a 15% stake in the regional bank.

ONE FOR THE ROAD

Oil Prices Eye Fourth Straight Day Of Gains As Geopolitical Risks Overshadow OPEC's Cooler Demand Forecast

Basically: Oil prices climbed by more than 1% at the start of the week. West Texas Intermediate (WTI) light crude futures, tracked by the United States Oil Fund, surpassed $77 per barrel by 8:00 a.m. EST.

So: This rise comes despite the Organization of the Petroleum Exporting Countries (OPEC) cutting its global oil demand growth forecast. OPEC has revised its global oil demand growth estimate for 2024 to 1.78 million barrels per day. Here’s why it matters.

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