Day Trade Cheat Sheet - August 03, 2026 (Morning)

 ## MARKET MOOD: MIXED Overnight sentiment is cautiously optimistic as U.S. futures rise following Trump’s decision to call off a planned attack on Iran, easing geopolitical tensions. However, chip stocks and Asian markets face pressure amid ongoing concerns about semiconductor demand and yen intervention, creating a mixed risk environment. ## TOP 5 HEADLINES 1. Trump calls off Iran strike, announces fresh talks → Impact: Reduced geopolitical risk lifts U.S. futures and oil prices plunge. 2. Atkore surges 27% premarket on earnings beat and Prysmian buyout deal → Impact: Industrial sector strength supports market breadth. 3. Sandisk dips nearly 5% premarket ahead of earnings → Impact: Semiconductor weakness weighs on tech sentiment. 4. Alibaba shares rally after unveiling powerful AI model → Impact: Renewed interest in Chinese tech amid U.S.-China AI rivalry. 5. U.S. and Japan confirm coordinated yen intervention → Impact: Yen spikes sharply, pressuring Japanese exporters and global markets. ## PRE-MARKET MOVERS ### Longs (Bullish Catalysts) **$ATKR** - Earnings and revenue beat; Prysmian acquisition deal announced **$BABA** - AI model launch sparks rally amid U.S.-China tech competition **$BA** - Industrial shares gain on strong technical outlook and Q2 results **$HOOD** - Cantor Fitzgerald maintains overweight rating despite lower price target **$TSLA** - Stifel maintains buy rating despite price target cut ### Shorts (Bearish Catalysts) **$SNDK** - Shares down nearly 5% premarket ahead of earnings miss expectations **$MU** - Semiconductor stocks pressured amid demand concerns **$XPEV** - Data not available but sector weakness noted **$MAR** - Shares sliding after revenue miss despite earnings beat **$IG** - Stock sliding with no positive catalyst ## INDEX BIAS **SPY:** NEUTRAL - Futures up on geopolitical relief but semiconductor and yen intervention risks cap upside. **QQQ:** BEARISH - Tech and semiconductor weakness weigh on Nasdaq futures despite Alibaba and Tesla news. **IWM:** BULLISH - Small-caps benefit from industrial strength and risk-on sentiment post-Iran de-escalation. ## SECTORS **Favor:** Industrials - Atkore’s strong earnings and acquisition deal highlight sector strength. **Avoid:** Semiconductors - Sandisk and Micron under pressure ahead of earnings; demand concerns persist. ## CATALYST WATCH - 08:30 ET: U.S. Jobs Report (watch for impact on Fed outlook and risk sentiment) - 16:00 ET: SpaceX first-ever earnings report (highly anticipated for tech and AI implications) - Earnings: **$AMD** (Tuesday), **$SNDK** (Aug 5), **$MAR** (reported with mixed results), **$UBER** (expected volatility) ## BOTTOM LINE **Today's Play:** Selective Geopolitical risk recedes with Trump halting Iran strike plans, boosting risk appetite and lifting industrials and small-caps. However, semiconductor stocks remain under pressure ahead of key earnings, and yen intervention adds volatility risk to exporters and tech. Focus on strong industrial names like **$ATKR** and Chinese tech leaders like **$BABA** for selective long plays, while maintaining caution on semis and Japanese exporters. Watch U.S. jobs data and SpaceX earnings for potential market-moving events.