October Monthly Roundup: Navigating the Tech Pullback. What We Bought and Our Shopping List.
We used the AI pullback to add to several holdings, made a handful of rating and target changes, and sharpened our shopping list.
We used the AI pullback to add to several holdings, made a handful of rating and target changes, and sharpened our shopping list.
What we’re watching to see through diminished near-term industry visibility.
Earnings from Boeing and Welltower, prepping for Paccar’s results plus other headlines moving the market this morning.
It’s a full slate of economic data and earnings as the Fed starts its two-day meeting.
September US economic reports include durable goods orders and new home sales. October reports include Conference Board consumer confidence and the Richmond Fed manufacturing and Dallas Fed services surveys. For August, we get the S&P Cotality Case-Shiller and FHFA home price indexes. We’ll also get the weekly ADP NER Pulse.
The FOMC begins its two-day meeting, with the decision Wednesday at 2pm ET.
Non-Bill (>1yr in maturity) US Treasury auctions are $70B of 5-year notes. Treasury will also conduct a buyback of 20- to 30-year securities.
41 S&P 500 components report, six of them with market caps over $100bn:
Outside the US, Novartis ($NVS) and Porsche ($DRPRY) have reported, followed by SK Hynix ($SKHY) tonight.
Ex-US highlights include China September industrial profits, South Korea Q3 GDP, France October consumer confidence, Eurozone September M3 and the ECB’s Q3 Bank Lending Survey. Israel also holds parliamentary elections.


From Christophe Barraud’s international Week Ahead rundown:

Let’s dig in following an up day on Wall Street to see what’s happened and what to expect.
We added to six holdings, and upgraded and lifted a price target on another as favorable AI data conflicted with market emotion.
Customer spending plans drive one move, while the domestic manufacturing economy does the other.
Job creation picked up during the month, leaving the Fed to focus on inflation.
These are the data points we’ll be watching for as we continue to follow the technical setups.
We put capital to work in two holdings, exited another and bumped up our price target for a long-time position.