Market participants anticipate increased rate cut probabilities following weaker-than-expected JOLTS data, with CME FedWatch tool showing 98% likelihood of a September cut. Odds now favor three total cuts by year-end instead of two, driving dollar weakness and bond strength. Gold reached new all-time highs at $3,629, while silver approached $42, both up approximately 1%. Market indices showed mixed performance with the NASDAQ rising 150 points on Google and Apple strength following antitrust case dismissals, while Russell and Dow lagged despite the rate cut narrative. In currency markets, traders focused on dollar-yen movement, which tested 149 before retreating to 148. Australian dollar showed strength against Canadian dollar, approaching range highs dating to March, potentially benefiting from the gold rally. The hosts discussed various earnings trade strategies including disconnected butterflies for Lululemon and call ratio spreads for Salesforce, emphasizing the importance of position sizing and defined risk when trading earnings events.