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Happy Wednesday Zingernation! ‘The trend is your friend’ as the old saying goes. And right now, the hottest trend in the stock market is still semiconductor stocks. One analyst expects the momentum to continue and is even calling for this chip stock to become the next company to pass the trillion-dollar market cap milestone.

—Aaron Bry & Nic Chahine

Plus, check out the publicly-traded entertainment company revitalizing old classics like Winnie The Pooh.

MARKET SNAPSHOT

Yesterday: The S&P 500 continued its winning streak, closing higher for the sixth day in a row. Will we make it seven today?

On Our Radar: Powell will continue his testimony to Congress today at 10am ET, and then we will have some other Fed Speak scattered throughout the afternoon. Happy trading!

TOP STORY

June CPI Report On Traders' Radar: Analysts Predict S&P 500 Move For Thursday Under Different Inflation Scenarios

Briefly: The all-important consumer price inflation report for June – one of the important reports due before the Federal Reserve’s July 30-31 monetary policy committee meeting – is expected on Thursday.

What Happened: Economists, on average, expect June’s headline monthly consumer price inflation rate at 0.1%, a slight tick up from unchanged prices in May. Annually, the CPI inflation may have slowed from 3.3% to 3.0%.

So: The core consumer price index, which strips off volatile food and energy prices, is expected to have risen 0.2% month-over-month and 3.4% year-over-year, essentially unchanged from corresponding May readings. Here’s how experts expect the market to move on the report.

PRESENTED BY KARTOON STUDIOS

Kartoon Studios Gears Up To Launch Most Ambitious Project Yet With New Winnie-The-Pooh Franchise; Backed By $30M Of Non-Dilutive Financing From Catalyst Venture Partners

Kartoon Studios (AMEX: TOON) is embarking on its most ambitious project yet, bringing Winne-The-Pooh to life through a new franchise that’s debuting on Amazon.com Inc.’s (NASDAQ: AMZN) Amazon Prime Video. 

The new franchise will kick off with an animated holiday movie and include five holiday specials and a four-year/150 episode series. Alliance Entertainment Holding Corp. (NASDAQ: AENT), the largest distributor of physical entertainment in the world, is debuting  an exclusive steelcase video package with unique bonus features, planned to be available at Walmart Inc. (NYSE: WMT), Barnes & Noble, and Amazon, as part of Kartoon Studios’ global merchandise program.

Winne-the-Pooh is not only beloved but its also a cash cow. It nets Walt Disney Co. (NYSE: DIS) an estimated $3 billion to $6 billion in annual sales. If Kartoon’s take on Winne-The-Pooh resonates, it could be in a good position to grow. To learn more about Kartoon Studios, click here.

FIVE ZINGERS

Meme Tendencies: ‘Bong King’ Bill Gross says that Tesla has been acting more like a meme stock than a car stock. Here’s why it matters.

Downgrade Central: Lots of movement in analyst ratings land the past few days. Here are the biggest downgrades driving stocks lower.

Just Keep Chippin’: Taiwan Semiconductor reported a big jump in YoY revenue, helping drive the chip manufacturer higher.

Clash Of The Titans: Big-name tech companies like Amazon and TikTok are jockeying for market share in the U.S. And here’s who’s winning.

Road To Recovery?: Bitcoin, Ethereum and other cryptos rebounded as Jerome Powell’s tone indicated a potential rate cut in September.

ONE FOR THE ROAD

Chinese ETF Market Explodes With 5X Increase In Inflows Over 3 Years Despite Some Ceasing Operations In US

Briefly: The Chinese exchange-traded funds (ETFs) market has seen a fivefold increase in investments over the past three years

What Happened: Per Morningstar, the inflow into Chinese ETFs has experienced “staggering” growth, consistently reaching new highs over the last five years, CNBC reported on Tuesday. Wanda Wang, Morningstar’s Research Manager, mentioned that the annual inflows to China ETFs surged almost fivefold in the past three years.

So: Data from the American financial services firm shows that the total yearly inflows to Chinese ETFs swelled from 127.2 billion yuan ($17.49 billion) in 2021 to 387.2 billion yuan ($53.2 billion) in 2022. In 2023, this figure hit 604.3 billion yuan ($83.05 billion). Here are the different ways to trade a potential China rebound.

PRESENTED BY VINOVEST

The Rising Demand for Whiskey: How Investors Can Capitalize on The Trend

“The Rising Demand for Whiskey: How Investors Can Capitalize on The Trend” webinar will introduce you to the world of whiskey investing. Join us to hear from the industry experts and learn about how you can invest in whiskey and profit from this growing industry. 

Date: Thursday, 7/11/24
Time: 11:00 AM - 12:00 PM EST

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