New Trade for July 29th 2020

Futures are trading slightly higher this morning after yesterday’s tech lead backslide. Today is another big day for earnings with Paypal, Qualcomm and Teledoc all scheduled to report.  Meanwhile, investors will be awaiting the Fed’s latest decision on monetary policy.  The announcement is scheduled for this afternoon.  

Today we are looking at an earnings related mover who just added to their dividend.  Scott’s Miracle-Gro Co. (SMG) is up 9% in pre-market trading after it posted better than expected profits and revenues.

The lawn and garden care products maker raised their quarterly dividend by 7%.  This could be an indicator for more bullish action as the summer continues.  Demand for SMG products has jumped as people are staying at home for the COVID-19 pandemic.  With case numbers on the rise in some areas, this trend could continue for the coming months.