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Happy Tuesday Zingernation! For the last 10 years, all you needed to be able to do to be a successful investor was type “QQQ” on your keyboard and hit buy. But now, tech stocks are starting to strike out while this industry is stepping up to the plate. Plus, what July’s PPI report means for the market.

—Aaron Bry & Nic Chahine

Plus, looking to make some extra cash without having to leave the couch? Here’s a list of dividend stocks you might want to have a look at.

MARKET SNAPSHOT

Yesterday: Was another one of those roller-coaster days where the broader market couldn’t seem to make up its mind. After rips and dips, the $SPY and $QQQs closed in the green while the Dow closed slightly in the red.

On Our Radar: We’ve got inflation data on the way! July’s PPI will hit the tape at 8:30 am ET, giving us more insights into the Fed’s battle with inflation. We also have earnings reports from companies like $HD, $ONON and more.

TOP STORY

While Tech Giants Tumble, Defense Titans Take Off: Who's Leading The Charge?

Basically: In a month marked by global market turmoil, where leading tech giants like Alphabet Inc, Apple Inc, and Tesla Inc saw their valuations drop by a combined trillion dollars, the defense sector has shown resilience.

So: Stocks of three major companies—Lockheed Martin Corp, RTX Corporation and Northrop Grumman Corp—have surged between 14% and 20% over the past month. But which one of the three do you want to own?

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FIVE ZINGERS

Home Is Where The Depot Is: Home Depot reported a drop in customer transactions but raised its revenue outlook for the year.

Are You Ready To Rumble?: Rumble shares traded up around 5% this morning following Musk and Trump’s interview. Here’s what’s going on.

Trouble Ahead?: It’s been all systems go for semi names throughout the last year or so. But here’s why $TSM could see some trouble ahead.

Talk About A Blemish: $ELF beauty’s stock got absolutely crushed yesterday, closing down around 10%. But is it time to buy the dip?

Swiping Right: Bumble shares have gotten hammered recently, but one analyst is ready to swipe right, calling the dating-app company a buy.

ONE FOR THE ROAD

Producer Prices Slow More Than Expected In July, Bolster Fed Rate Cut Wagers

Basically: After an unexpected uptick in June, July’s Producer Price Index (PPI) posted a welcome decline Tuesday, reinforcing the broader disinflationary momentum in the U.S. economy and adding weight to the case for imminent rate cuts.

So: On an annual basis compared to July 2023, the overall producer basket rose by 2.2%, marking a steep reduction from the previous 2.7% and coming in below the expected 2.3%. Here’s what the numbers mean for the Fed’s chances of cutting rates in September.

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