In partnership with |  |
| | | Good afternoon, | After six consecutive weeks of gains, the S&P 500 took a breather, dropping 1.0%. The Dow Jones felt a sharper sting, declining 2.7%. I’ve seen this pattern before – markets rarely move in straight lines. | | The profit-taking wasn’t surprising, especially with Treasury yields climbing higher. | | The 10-year yield jumped 16 basis points to 4.23%.The bright spot? The Nasdaq Composite managed to eke out a 0.2% gain, thanks to our tech heavyweights and semiconductor stocks. Tesla’s impressive Q3 earnings and optimistic 2025 forecast gave the sector a nice boost. | Have a great week! | Irving Wilkinson, Editor | AlphaBetaStock.com | | Man Who Called Nvidia at $1.10 Says Buy This Now... | | This company signed a major deal with Apple Nvidia has invested more in this one company than any othe And its tech is found in products from Samsung and Google
| Click here for details. | | US Market Highlights | The housing market caught my attention this week. Sales have hit their lowest point since 2010 – a situation I haven’t seen since the aftermath of the financial crisis. Here’s what’s fascinating: despite the sales slump, median home prices still rose 3% to $404,500.Some notable corporate moves: | Boeing is exploring selling its space division, including the Starliner program Tapestry’s planned $8.5B merger with Capri hit a judicial roadblock McDonald’s faced challenges with an E. coli outbreak Peloton made a smart move partnering with Costco
| Fun fact: Did you know that historically, companies that increase their dividends have outperformed their peers by an average of 2.5% annually? Speaking of performance… | Global Highlights | The international scene is giving us plenty to analyze. China cut key lending rates by 25 basis points – a move I’ve been anticipating, given their economic challenges. The Bank of Canada surprised many with a 50-basis-point cut, bringing rates to 3.75%. | The Eurozone continues to struggle with stagnation. As someone who’s watched European markets for over two decades, I see echoes of past cycles here. The weak output from Germany and France particularly concerns me. | |
|
| Commodities & Crypto | | Oil prices tell an interesting story. Despite Middle East tensions, Brent and WTI crude prices dropped to $73.80 and $69.70 respectively. I’ve learned over the years that fundamentals usually win over geopolitics in the long run. | | The real showstopper? Gold hitting an all-time high above $2,700. | | In the crypto space, Bitcoin is flirting with $68,000, while Ethereum sits at $2,615. The correlation some analysts are drawing between Bitcoin’s price and Donald Trump’s election prospects adds an intriguing political dimension to crypto markets. | | Next week promises to be action-packed. We’re getting earnings reports from tech giants representing $12 trillion in market cap: | Apple Microsoft Amazon Alphabet Meta
| Key economic data to watch: | | The Fed meeting in November looks interesting – market participants are pricing in a 95% chance of a 25-basis-point rate cut. In my experience, these consensus expectations often lead to surprising market reactions when they don’t materialize exactly as predicted. | I’ll be watching these developments closely, particularly how the “Magnificent Seven” earnings might influence market sentiment. Remember, markets often react more to expectations than actual numbers – something I’ve learned through countless earnings seasons. | | Copyright © 2023 AlphaBetaStock.com All Rights Reserved | AlphaBetaStock.com is a financial news publisher that does not offer any personal financial advice or advocate the sale or purchasing of any investment/security. Please contact us for any errors in stories by clicking here. For more information, please read our full disclaimer. |
|
