Housing Market Feels Like It’s Built on a Sinkhole
Is the housing market close to a bottom? Let’s take a look.
Market Braces for Even Higher Oil Prices: 8 Key Items Shaping the Stock Market Thursday
Meta’s earnings, P&G’s warning and other headlines moving the market this morning.
A Look at Thursday
US economic data remains light with weekly jobless claims, September leading and coincident indicators and the Kansas City Fed’s October manufacturing survey.
The Fed remains in its blackout period ahead of next week’s October 27–28 FOMC meeting.
Non-Bill (>1yr in maturity) US Treasury auctions continue with a $26bn 5-year TIPS auction.
Q3 earnings season continues with 27 S&P 500 components: Procter & Gamble ($PG), Union Pacific ($UNP), Western Digital ($WDC), Blackstone ($BX), Valero Energy ($VLO), Lockheed Martin ($LMT), Newmont ($NEM), Comcast ($CMCSA), Norfolk Southern ($NSC), Bloom Energy ($BE), Honeywell ($HON), Nasdaq ($NDAQ), Comfort Systems USA ($FIX), CBRE Group ($CBRE), PG&E ($PCG), Roper Technologies ($ROP), Huntington Bancshares ($HBAN), VeriSign ($VRSN), Quest Diagnostics ($DGX), Dover ($DOV), PulteGroup ($PHM), Dow ($DOW), Snap-on ($SNA), Tractor Supply ($TSCO), NVR ($NVR), Allegion ($ALLE) and Deckers Outdoor ($DECK).
Ex-US highlights are France October business confidence, EU27 September new car registrations, Eurozone October consumer confidence, Canada September industrial product price index, and a policy decision in South Korea.
SpaceX Lights a Fire Under Tech
Blowout SpaceX results lifted a swath of AI names, sending the Nasdaq up over 1%.
Another Sentiment Indicator Shows a Bearish Turn
The tech stocks are due for an oversold rally. Sentiment remains complacent, but more bears are joining the fray.
It’s Time to Take Notice
As the market nears oversold, one Wall Street strategist has cut his year-end target on the S&P 500 by more than a little.
Google Seizes the Spotlight Ahead of Earnings: 8 Key Items Shaping the Stock Market Wednesday
No end in sight for renewed U.S.-Iran pressures, Jensen Huang on China AI models and other headlines are moving stocks this morning.
Traders Are Complacent, But Is the Market Headed to ‘Anxiety’?
The market continues to follow the sentiment cycle chart, and it appears that we’re currently at ‘anxiety’.