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.
The Fed held rates steady with two hawkish dissents, Oracle’s aggressive long-term targets lifted AI names, but Alphabet fell about 9% after missing expectations.
Management may be lowballing current quarter diesel prices.
Higher fuel costs but also higher risk management costs weighed on the company’s bottom line.
A wave of AI-related deals sent semiconductor shares soaring, helping the Nasdaq rally while investors prepared for the Fed and crucial earnings from Microsoft and Google parent Alphabet.
With earnings tonight, WM is right at all-time highs after a tremendous run up this month.
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.
An improving outlook in investment banking fees leads us to picking up shares of this holding.