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Jim Iuorio says we “have some work to do” to the downside and calls the market “still pretty tired.” He feels vindicated by the latest jobs report and its revisions lower and says “something is wrong with the way they compile data” because of the significant drops. He wishes the Fed had the updated info before its latest meeting in the hopes of a rate cut. “The last thing [the Fed wants] to do is appear panicked,” he argues, so he expects them to wait for the September meeting rather than making an emergency cut.

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Joe Mazzola breaks down July’s STAX report, Charles Schwab’s monthly report on its client behavior. “Clients aren’t really chasing the rally,” Joe observes, becoming “much more measured” than bullish. The STAX’s top 3 bought stocks include Nvidia (NVDA), and top 3 sold include Apple (AAPL) and AMD (AMD). Healthcare and financials saw client interest, with UnitedHealth (UNH) also a top-performing name. He also sees buyers stepping in when the market hits a dip.

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Lance Ulanoff says the tech evolution is now all about A.I. pointing to discussions with consumers who say "all people are talking about is A.I." He believes kids will have to learn the A.I. technology and become good "prompters." Jeff Kagan adds that A.I. growth is impacting Palantir (PLTR) and says we're still in the very early days of this A.I. wave. Lance adds "There's no getting off the A.I. ride!"

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John Jannarone called the Figma (FIG) IPO "really good news" for the overall tech IPO sphere. He expects to see names like Klarna and Stripe go public sometime this fall, and says they could be even bigger than Figma. For Figma's first day pop, John says the discrepancy in IPO price to trading price showed the company did the right thing in the long term. He does caution buying FIG now would still be at what he estimates 50-times sales.

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Jack Ablin attributes Monday’s market rally to the jumping expectation of a rate cut in September after last week’s disappointing jobs report. He says AI companies are currently contributing more to GDP than household spending. “We are going to see a weakening” of the economy, but Jack doesn’t expect a recession: “We’ll probably muddle through.” His stock picks right now include “high-quality” names like Chubb (CB), IBM (IBM), and Sysco (SYY).

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RJ Hottovy looks at fast food stocks, from McDonald’s (MCD) to Restaurant Brands (QSR). RJ notes that these restaurants are also seeing pressure from low-cost grocery outlets like Aldi’s or dollar stores. Consumers are “continuously seeking out deals” without brand loyalty, he argues, but a chain of promotions is the best way to lure repeat customers. “Breakfast is still a challenge for a lot of these chains,” he adds.

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Likefolio’s Landon Swan walks through consumer sentiment data on Yum! Brands (YUM), the parent company of Taco Bell, Pizza Hut & others. “Taco Bell is the one that’s leading,” Landon notes, but his data notes some weakness in customer visits, giving him pause. “The bar’s going to be a bit high,” as far as analyst expectations, he thinks. Landon argues investors should focus on Yum!’s international expansion rather than the Taco Bell franchise as KFC sees success in China.

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Palantir (PLTR) takes center stage this week, with all eyes on the company's A.I. growth outlook. Chris Wang and Ryan Stever discuss the tech giant's potential to deliver transformational revenue growth, despite trading at over 100 times sales. Meanwhile, Microsoft (MSFT) and Amazon (AMZN) have set the bar high on capex spending, leaving investors wondering when they'll see proof of A.I. monetization.

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“The Fed is making another policy mistake. This would be the fifth policy mistake of the Powell Fed,” Darius Dale believes. “They are falling behind” the “really horrible data” we’re getting about the economy – meaning, he argues, they’re not data-dependent as they claim – and need to cut rates. “The man’s termination can’t come fast enough.” He thinks the Fed created 40-year inflation highs and that tariffs are not inflationary, but will slow economic growth.

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Mike Shorr walks through a pair of stocks he sees set up for a swing breakout: AbbVie (ABBV) and Etsy Inc. (ETSY). For both, he demonstrates an example options trade using a call spread. Later, he also looks at Vertiv (VRT) which he believes is set up for a hull reversion entry. Kevin Green looks at the bullish and bearish technical patterns on each of the stock charts.

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Options involve risks and are not suitable for all investors. Before trading, read the Options Disclosure Document. http://bit.ly/2v9tH6D

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