Day Trade Cheat Sheet - July 09, 2026 (Morning)

 ## MARKET MOOD: MIXED U.S. stock futures show a cautious tone amid renewed U.S.-Iran tensions, with the Dow and Nasdaq 100 slightly up but the S&P 500 mixed. Geopolitical risks are weighing on sentiment, while chip stocks and some tech names show resilience on strong fundamentals and AI-related investments. ## TOP 5 HEADLINES 1. AstraZeneca stock plunges 8% after heart drug trial misses primary endpoint → Impact: Negative sentiment on biotech sector, dragging related pharma stocks. 2. Micron to invest over $250 billion in U.S. chip supply chain by 2035 → Impact: Bullish catalyst for semiconductor sector, supporting chipmakers like **$MU**. 3. Levi Strauss shares down 6.1% despite beating Q2 earnings estimates → Impact: Profit-taking pressure on consumer discretionary stocks. 4. U.S. and Iran exchange strikes for second day, escalating geopolitical tensions → Impact: Heightened market volatility and risk-off sentiment in energy and defense sectors. 5. Nvidia and Vertex Pharmaceuticals highlighted as strong picks on CNBC’s ‘Final Trades’ → Impact: Positive momentum for AI-related tech and biotech stocks. ## PRE-MARKET MOVERS ### Longs (Bullish Catalysts) **$MU** - Strong chip sector outlook with massive U.S. investment plan **$NVDA** - Positive analyst mentions and AI growth prospects **$HON** - Defense spending tailwinds amid geopolitical risks **$CRWD** - Buy rating maintained by Needham, steady cybersecurity demand **$WDFC** - Data not available but implied positive from futures rise ### Shorts (Bearish Catalysts) **$LEVI** - Shares down 6.1% despite earnings beat, profit-taking pressure **$IONS** - Down 12.4% on weak sentiment in biotech after trial misses **$AZN** - Plunged 8% after failed heart drug trial results **$NOAH** - Down 14%, broad risk-off in financials and China-exposed stocks **$GLOO** - Public offering priced below expectations at $3.25 ## INDEX BIAS **SPY:** NEUTRAL - Mixed futures with geopolitical tensions offset by chip and tech strength **QQQ:** BULLISH - Tech and AI-related names like **$NVDA** and **$CRWD** showing resilience **IWM:** BEARISH - Small caps pressured amid risk-off and consumer discretionary weakness ## SECTORS **Favor:** Semiconductors - Supported by Micron’s massive U.S. investment and AI demand **Avoid:** Biotech/Pharma - Dragged down by AstraZeneca’s trial failure and Ionis Pharma weakness ## CATALYST WATCH Events today that could move markets: - 08:30 AM ET: Initial Jobless Claims (expect little change, stable labor market) - 10:00 AM ET: Wholesale Trade Sales and Inventories (monitor for economic momentum) ## BOTTOM LINE **Today's Play:** Selective Markets face a tug-of-war between geopolitical risk from renewed U.S.-Iran strikes and strong fundamentals in semiconductors and AI-related tech. The chip sector, led by **$MU** and **$NVDA**, offers the best opportunities amid a defensive stance on biotech and consumer discretionary stocks showing weakness. Traders should remain selective, focusing on quality tech and defense plays while avoiding beaten-down biotech and discretionary names vulnerable to profit-taking and trial setbacks. Geopolitical developments remain the biggest risk to watch.