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.
| Index | Last | Daily change | |
| DJX | 23,377 | 0.12% | Up |
| SPX | 2,575 | 0.09% | Up |
| Nasdaq | 6,728 | 0.43%s | Up |
Wednesday’s Hot Stocks: DDD, EA, NFX, CHKP, EL, KHC, CTSH
IPOs: ALTR, LOMA
Have a great trading day!
| Economic Calendar
|
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| DAY | TIME (EST) | Event | Forecast | Impact |
| Monday | 8:30 | Personal Income and Outlays | 0.4 % | Medium |
| Tuesday | 9:00 | S&P Corelogic Case-Shiller HPI | 0.5 % | Medium |
| Tuesday | 9:45 | Chicago PMI | 62.0 | Medium |
| Tuesday | 10:00 | Consumer Confidence | 121.0 | High |
| Wednesday | 8:15 | ADP Employment Report | 220,000 | Medium |
| Wednesday | 9:45 | PMI Manufacturing Index | 54.5 | Medium |
| Wednesday | 10:00 | ISM Mfg Index | 59.5 | High |
| Wednesday | 10:00 | Construction Spending | 0.1 % | Medium |
| Wednesday | 10:30 | Oil Inventories | – | Low |
| Thursday | 8:30 | Jobless Claims | 235 K | Medium |
| Thursday | 8:30 | Productivity and Costs | 2.4 % | Medium |
| Friday | 8:30 | Nonfarm Payrolls | 323,000 | High |
| Friday | 8:30 | Unemployment Rate – Level | 4.3% | High |
| Friday | 8:30 | Average Hourly Earnings | 0.2 % | High |
| Earning Calendar
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| Symbol | Company | AM/PM | Day |
| NBL | Noble Energy, Inc. | PM | Monday |
| SBAC | SBA Communications Corporation | PM | Monday |
| CMI | Cummins Inc. | AM | Tuesday |
| INCY | Incyte Corporation | AM | Tuesday |
| AMT | American Tower Corporation | AM | Tuesday |
| AET | Aetna Inc. | AM | Tuesday |
| K | Kellogg Company | AM | Tuesday |
| SHOP | Shopify Inc. | AM | Tuesday |
| MA | Mastercard Incorporated | AM | Tuesday |
| PFE | Pfizer Inc. | AM | Tuesday |
| APC | Anadarko Petroleum Corporation | PM | Tuesday |
| EA | Electronic Arts Inc. | PM | Tuesday |
| CHRW | C.H. Robinson Worldwide, Inc. | PM | Tuesday |
| CHKP | Check Point Software Technologies Ltd. | PM | Tuesday |
| FISV | Fiserv, Inc. | PM | Tuesday |
| EL | The Estee Lauder Companies Inc. | AM | Wednesday |
| CTSH | Cognizant Technology Solutions Corporation | AM | Wednesday |
| KHC | The Kraft Heinz Company | PM | Wednesday |
| OXY | Occidental Petroleum Corporation | PM | Wednesday |
| WMB | The Williams Companies, Inc. | PM | Wednesday |
| TSLA | Tesla, Inc. | PM | Wednesday |
| CTRP | Ctrip.com International, Ltd. | PM | Wednesday |
| FB | Facebook, Inc. | PM | Wednesday |
| MET | MetLife, Inc. | PM | Wednesday |
| SYMC | Symantec Corporation | PM | Wednesday |
| QCOM | QUALCOMM Incorporated | PM | Wednesday |
| ALL | The Allstate Corporation | PM | Wednesday |
| LBTYA | Liberty Global plc | PM | Wednesday |
| PRU | Prudential Financial, Inc. | PM | Wednesday |
| CI | Cigna Corporation | AM | Thursday |
| YUM | Yum! Brands, Inc. | AM | Thursday |
| DLPH | Delphi Automotive PLC | AM | Thursday |
| BABA | Alibaba Group Holding Limited | AM | Thursday |
| TEVA | Teva Pharmaceutical Industries Limited | AM | Thursday |
| ADP | Automatic Data Processing, Inc. | AM | Thursday |
| APA | Apache Corporation | AM | Thursday |
| CBS | CBS Corporation | PM | Thursday |
| ATVI | Activision Blizzard, Inc. | PM | Thursday |
| AIG | American International Group, Inc. | PM | Thursday |
| AAPL | Apple Inc. | PM | Thursday |
| SBUX | Starbucks Corporation | PM | Thursday |
| CC | The Chemours Company | PM | Thursday |
| ED | Consolidated Edison, Inc. | PM | Thursday |
| MSI | Motorola Solutions, Inc. | PM | Thursday |
| AEE | Ameren Corporation | AM | Friday |
Today’s Picks – Day Trading!
| Symbol | Breakout | Breakdown | Momentum | Momentum |
| YNDX | 34.27 | CREE | UAA | |
| DVN | 37.45 | CBI | LL | |
| WRK | 61.50 | QD | MYL | |
| CVS | 68 | QCOM | ||
| ALK | 64.77 | FSLR | ||
| VIAB | 23.45 | |||
| NLSN | 36.96 |
New York Strategy Swing
| # | Date | Stock | Long\
Short |
Statues | Data Close | Profit\
Loss |
| 1 | 1.9.2017 | VNTV | Long | Close | 14.9.2017 | +1.35% |
| 2 | 12.9.2017 | CPB | Short | Close | 15.9.2017 | -1.10% |
| 3 | 18.9.2017 | INSM | Long | Close | 22.9.2017 | +1.92% |
| 4 | 25.9.2017 | GPS | Long | Close | 2.10.2017 | +1.69% |
| 5 | 27.9.2017 | SQM | Long | Close | 29.9.2017 | +1.69% |
| 6 | 2.10.2017 | ATI | Long | Close | 6.10.2017 | +3.12% |
| 7 | 2.10.2017 | TROX | Long | Close | 18.10.2017 | +13.93% |
| 8 | 3.10.2017 | ABT | Long | Close | 11.10.2017 | +1.60% |
| 9 | 9.10.2017 | ZGNX | Long | Close | 12.10.2017 | +3.26% |
| 10 | 16.10.2017 | INSM | Long | Close | 19.10.2017 | -2.82% |
| 11 | 24.10.2017 | CVS | Short | Open | +5.05% | |
| 12 | 30.10.2017 | SKX | Long | Close | -1.42% | |
| 13 | 31.10.2017 | STX | Long | Open | +0.51% |
Today’s Picks – Swing “New-York Strategy”
No.1 – AKAM
| Company Name | Akamai Technologies |
| Entry Point | 52.60 |
| Stop Area | 51.95 |
| 1st Target | 53.20 |
| Swing Target | 56.85 |
| Avg. Volume | 1.86M |
| Sector | Technology | Internet Information Providers |
| Earning Date | – |
| Risk Rate | Medium |
| Risk\Reward Ratio | 6.54:1 |
Risk Rates: Normal – Regular size, High –Consider reducing size, Low – Consider increasing size