A “tale of two economies” with Luke Lango: AI vs. Everything Else
Investment trends highlight a rift between the AI Economy and the Everything Else Economy, according to investment experts Luke Lango, Louis Navellier, and Eric Fry. The Magnificent 7 tech stocks are projected to grow profits by 26% this quarter, while the broader S&P 493 is expected to see only a 2% increase. This divide, termed “The Technochasm,” is anticipated to widen over the next 6-12 months.
Gold Market Update
Gold futures recently reached a high above $3,500 but fell back to $3,404.70 after President Trump announced that gold would not be tariffed. This news came following gold’s establishment of a bullish ascending triangle pattern, suggesting a potential breakout. However, analysts advise waiting for significant trading volume before entering gold trades.
Upcoming CPI Data
The Consumer Price Index (CPI) report for July is scheduled for release tomorrow, with consensus estimates predicting a 0.2% monthly gain and a 2.8% year-over-year increase. Economists caution that tariff-related inflation may influence the report, leading to discussions on potential Federal Reserve rate adjustments due to mixed economic signals.
