Afternoon Note
The major indices are mixed today as The Street absorbs mixed economic data and earnings’ releases. The Dow Jones and Russell 2000 are in the red, while the S&P 500 and Nasdaq Composite show gains after starting the day in the red.
Only three out of eleven sectors are in the green, with Technology (XLK) in the front, up 1.09%, and supported by gains from mega cap names. Utilities (XLU) is the largest loser, down 1.72%.
The Ten Year Yield (TNX) is continuing to rise today, up 5.5 basis points (bps).
Bitcoin continues to surge today, hitting a nearly seven-month high, and recently breaking through the $70,000 level.
JOLTS kicked off a busy week of job data ahead of the Fed’s November meeting. The report was mixed with hires rebounding, but quits, layoffs, and openings worsening.
The October Consumer Confidence Index improved to 108.7, beating the consensus of 99.5. It is the biggest single month gain since March 2021.
The FHFA House Price Index rose to 0.3% m/m, faster than +0.1% expected. On a year-over-year basis, home prices rose 4.2% from +4.85% in July.
Alphabet (GOOG/GOOGL) is the first of the five Mag7 to report this week. The company will provide after the bell key data on the health of online advertising ahead of the earnings reports from Meta Platforms (META) on October 30th. The earnings reactions have been mixed so far with the company posting modest EPS beats.
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10/31/2024 10:01 AM | TOO COCKY? |
10/30/2024 1:45 PM | Check Time |
10/30/2024 9:44 AM | GENERALS LEAD…KEEP UP IF YOU CAN |
10/29/2024 1:47 PM | All Eyes on Google |
10/29/2024 9:09 AM | DJT SETS THE PACE |
10/28/2024 1:43 PM | Busy Week |
10/28/2024 9:47 AM | Flipping the Script (again) |
10/25/2024 1:43 PM | Nasdaq Leads |
10/25/2024 9:59 AM | Musk Can’t Lose |
10/24/2024 1:42 PM | Nasdaq Rebounds, Yields Ease |
10/24/2024 9:59 AM | Growth Stumbles |
10/23/2024 1:21 PM | Bracing for Tesla Earnings |
10/23/2024 9:47 AM | Tech Keeps Moving Higher |
10/22/2024 1:18 PM | Market Uneasy |
10/22/2024 9:58 AM | All Hail |
10/21/2024 1:15 PM | Earnings to the Rescue? |
10/21/2024 9:54 AM | Extreme and Infectious |
10/18/2024 1:26 PM | Netflix Delivers |
10/18/2024 9:50 AM | Institutional Panic Buying |
10/17/2024 1:26 PM | Tech Boost |
10/17/2024 10:03 AM | HERE’S A SONG THAT WE’RE SINGING… |
10/16/2024 1:31 PM | Small Cap Outperforms |
10/16/2024 9:55 AM | CHIPS FALL |
10/15/2024 3:48 PM | The MoneyShow Orlando, October 17-19, 2024 |
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