October Ends in the Green!

A surge in the consumer stock, Mondelez (MDLZ) and Kellogg (K) after their latest Q3 results, together with additional gains in tech stocks, helped Wall Street close the month of October on an upbeat tone. The 3 main Wall Street indexes put the final touches on their best trading month since February. The S&P 500 ended the month up 2.2%, the Dow closing strongly up by 4.3%. The NASDAQ ended nicely up by 3.6%.

Mondelez (MDLZ) soared 5.4% after the Oreo cookie maker reported better than expected earnings, while Kellogg (K) soared 6.2% after reporting a rise in sales for the first time in over 2 years.

Apple (AAPL) rose 1.4% to a new historic high after its newest telephone, the iPhone X, received positive coverage. The stock gave the 3 main Wall Street indexes their biggest jump. The tech sector (XLK) ended up 0.4%, adding to the gains recorded after the streak of solid earnings numbers recorded last week. At present, we’re continuing to look at the earnings reports of the large tech players – and they continue to impress.

Daily Summary: The Dow Jones rose 0.12%, the S&P 500 tacking on 0.09%, the NASDAQ climbing 0.43%.

Investors are also waiting for the announcement about who will be the next Fed Chair, an announcement that could come already this week. President Trump is expected to choose Jerome Powell, who is seen as less market-friendly. Yesterday, the Fed began its 2-day meeting in Washington; that notwithstanding, the central bank is expected to leave the interest rate unchanged in its announcement that will be released later today.

The macro figures coming out better, the market is ready for Jerome Powell. The market is also ready for the October employment report which will be released on Friday – and presumably, also, for what the Fed has to say. In other words, it’s hard to think about something that will derail the market. The market won’t be caught off guard so easily!

Q3 earnings reports have surpassed expectations. Now, with more than half of S&P 500 companies having reported, firm earnings are expected to record quarterly growth of 7%, outdoing the 5.9% figure expected at the beginning of October. Investors, all-in-all, are more focused on these numbers than the political hubbub.

At the same time, not all earnings numbers are being received warmly. Take for example, Under Armour (UAA), which toppled 23.7% yesterday, after the sports apparel company slashed its 2017 forecast.

Qualcomm (QCOM) fell 6.7%, making it the biggest weight on the S&P 500 and the NASDAQ after the newsfeed that Apple is planning to no longer use the company’s chips in its iPhone and iPad.

About 6.8 billion shares changed hands on U.S. exchanges, above the 6.1 billion average over the last 20 trading days.

Wednesday: The Fed is expected wrap up its policy meeting today with an announcement at 14:00. The central bank isn’t expected to say anything new over and beyond making note of the economy’s strength, despite the latest hurricanes. That should be enough to strengthen the market’s resolve that the Fed is going to hike rates in December.

Things are heating up in advance of Friday’s employment figures. The ADP report is expected for 8:15, the PMI manufacturing figures coming out at 9:45. The U.S. Supply Managers’ ISM index will be released along with construction figures at 10:00. All throughout the day, October car sales figures will be released. At 10:30, weekly crude inventory numbers will be released.

IndexLastDaily change
DJX23,3770.12%Up
SPX2,5750.09%Up
Nasdaq6,7280.43%sUp

Wednesday’s Hot Stocks: DDD, EA, NFX, CHKP, EL, KHC, CTSH

IPOs: ALTR, LOMA

Have a great trading day!

 

Economic Calendar

 

DAYTIME (EST)EventForecastImpact
Monday8:30Personal Income and Outlays0.4 %Medium
Tuesday9:00S&P Corelogic Case-Shiller HPI0.5 %Medium
Tuesday9:45Chicago PMI62.0Medium
Tuesday10:00Consumer Confidence121.0High
Wednesday8:15ADP Employment Report220,000 Medium
Wednesday9:45PMI Manufacturing Index54.5 Medium
Wednesday10:00ISM Mfg Index59.5 High
Wednesday10:00Construction Spending0.1 %Medium
Wednesday10:30Oil InventoriesLow
Thursday8:30Jobless Claims235 KMedium
Thursday8:30Productivity and Costs2.4 %Medium
Friday8:30Nonfarm Payrolls323,000High
Friday8:30Unemployment Rate – Level4.3%High
Friday8:30Average Hourly Earnings0.2 %High


 

 

Earning Calendar

 

SymbolCompanyAM/PMDay
NBLNoble Energy, Inc.PMMonday
SBACSBA Communications CorporationPMMonday
CMICummins Inc.AMTuesday
INCYIncyte CorporationAMTuesday
AMTAmerican Tower CorporationAMTuesday
AETAetna Inc.AMTuesday
KKellogg CompanyAMTuesday
SHOPShopify Inc.AMTuesday
MAMastercard IncorporatedAMTuesday
PFEPfizer Inc.AMTuesday
APCAnadarko Petroleum CorporationPMTuesday
EAElectronic Arts Inc.PMTuesday
CHRWC.H. Robinson Worldwide, Inc.PMTuesday
CHKPCheck Point Software Technologies Ltd.PMTuesday
FISVFiserv, Inc.PMTuesday
ELThe Estee Lauder Companies Inc.AMWednesday
CTSHCognizant Technology Solutions CorporationAMWednesday
KHCThe Kraft Heinz CompanyPMWednesday
OXYOccidental Petroleum CorporationPMWednesday
WMBThe Williams Companies, Inc.PMWednesday
TSLATesla, Inc.PMWednesday
CTRPCtrip.com International, Ltd.PMWednesday
FBFacebook, Inc.PMWednesday
METMetLife, Inc.PMWednesday
SYMCSymantec CorporationPMWednesday
QCOMQUALCOMM IncorporatedPMWednesday
ALLThe Allstate CorporationPMWednesday
LBTYALiberty Global plcPMWednesday
PRUPrudential Financial, Inc.PMWednesday
CICigna CorporationAMThursday
YUMYum! Brands, Inc.AMThursday
DLPHDelphi Automotive PLCAMThursday
BABAAlibaba Group Holding LimitedAMThursday
TEVATeva Pharmaceutical Industries LimitedAMThursday
ADPAutomatic Data Processing, Inc.AMThursday
APAApache CorporationAMThursday
CBSCBS CorporationPMThursday
ATVIActivision Blizzard, Inc.PMThursday
AIGAmerican International Group, Inc.PMThursday
AAPLApple Inc.PMThursday
SBUXStarbucks CorporationPMThursday
CCThe Chemours CompanyPMThursday
EDConsolidated Edison, Inc.PMThursday
MSIMotorola Solutions, Inc.PMThursday
AEEAmeren CorporationAMFriday

Today’s Picks – Day Trading!

SymbolBreakoutBreakdownMomentumMomentum
YNDX34.27CREEUAA
DVN37.45CBILL
WRK61.50QDMYL
CVS68 QCOM
ALK64.77 FSLR
VIAB23.45  
NLSN36.96  

 

 

New York Strategy Swing

#DateStockLong\

Short

StatuesData CloseProfit\

Loss

11.9.2017VNTVLongClose14.9.2017+1.35%
212.9.2017CPBShortClose15.9.2017-1.10%
318.9.2017INSMLongClose22.9.2017+1.92%
425.9.2017GPSLongClose2.10.2017+1.69%
527.9.2017SQMLongClose29.9.2017+1.69%
62.10.2017ATILongClose6.10.2017+3.12%
72.10.2017TROXLongClose18.10.2017+13.93%
83.10.2017ABTLongClose11.10.2017+1.60%
99.10.2017ZGNXLongClose12.10.2017+3.26%
1016.10.2017INSMLongClose19.10.2017-2.82%
1124.10.2017CVSShortOpen +5.05%
1230.10.2017SKXLongClose-1.42%
1331.10.2017STXLongOpen+0.51%

 

Today’s Picks – Swing “New-York Strategy”

No.1 –   AKAM

Company NameAkamai Technologies
Entry Point52.60
Stop Area51.95
1st Target53.20
Swing Target56.85
Avg. Volume1.86M
SectorTechnology | Internet Information Providers
Earning Date
Risk RateMedium
Risk\Reward Ratio6.54:1

Risk Rates: Normal – Regular size, High –Consider reducing size, Low – Consider increasing size