Q3 Earnings Season on the Way!
The Dow Jones soared on Tuesday to a new historic high thanks to the surge in the stock of Walmart (WMT). Amazon (AMZN) and Facebook (FB), though, lost altitude. Investors’ focus, now, will gravitate to the Q3 earnings season.
Walmart (WMT) soared 4.47% to a two-and-a-half year high after releasing a forecast that it expects online sales to skyrocket 40% next year. The biggest U.S. retail chain also announced a huge stock buyback initiative in the amount of $20 billion. The Q3 earnings season will kick off this coming Thursday with the numbers of J.P. Morgan (JPM) and Citigroup (C). The S&P 500 has recorded gains of 14% year-to-date, investors betting on strong earnings growth in S&P 500 firms.
Daily Summary: The Dow rose 0.31%, the S&P 500 advancing 0.23%, the NASDAQ tacking on 0.11%.
The tech sector (XLK) has recorded the best performance of the 11 tech sectors year-to-date, though ended yesterday unchanged. Facebook (FB) fell 0.53%, NVIDIA (NVDA) jumping 1.93% after revealing its cutting edge chips for autonomous cars. The stock is trading up 182% on the year.
Airline companies saw considerable strength. American Airlines (AAL) jumped 4.8%, United Continental (UAL) surging 4.67% after both companies released encouraging Q3 forecasts. Delta Airlines (DAL), which is expected to report today, ended up 1.85%.
About 5.6 billion shares traded hands on U.S. exchanges, beneath the 6.1 billion average over the last 20 trading days.
Wednesday: Players are sharpening their knives for the Q3 earnings season. Before opening today, FAST and DAL will report their financial results. The economic diary today will focus on the JOLTS job figures which will be released at 10:00 N.Y. time. The minutes from the latest Fed meeting will be released at 14:00 and are expected to cause a rise in volatility in the last 2 hours of trading.
| Index | Last | Daily change | |
| DJX | 22,831 | 0.31% | Up |
| SPX | 2,551 | 0.23% | Up |
| Nasdaq | 6,587 | 0.11% | Up |
Today’s Hot Stocks: DAL, CUDA, MU, AVGO
| Economic Calendar
| ||||
| DAY | TIME (EST) | Event | Forecast | Impact |
| Monday | Columbus Day – Markets Open | |||
| Tuesday | 6:00 | NFIB Small Business Optimism Index | 105.4 | Medium |
| Wednesday | 10:00 | JOLTS | 6.160 M | Medium |
| Wednesday | 14:00 | FOMC Minutes | – | High |
| Thursday | 8:30 | Jobless Claims | 252 K | Medium |
| Thursday | 8:30 | PPI | 0.4 % | High |
| Thursday | 11:00 | Oil Inventories | – | Low |
| Friday | 8:30 | Consumer Price Index | 0.6 % | High |
| Friday | 8:30 | Retail Sales | 1.9 % | Medium |
| Friday | 10:00 | Business Inventories | 0.6 % | Medium |
| Friday | 10:00 | Consumer Sentiment | – | High |
| Earning Calendar
| |||
| Symbol | Company | AM/PM | Day |
| FAST | Fastenal Company | AM | Wednesday |
| DAL | Delta Air Lines, Inc. | AM | Wednesday |
| DPZ | Domino’s Pizza, Inc. | AM | Thursday |
| C | Citigroup Inc. | AM | Thursday |
| JPM | JPMorgan Chase & Co. | AM | Thursday |
| BAC | Bank of America Corporation | AM | Friday |
| WFC | Wells Fargo & Company | AM | Friday |
| JBHT | J.B. Hunt Transport Services, Inc. | AM | Friday |
Today’s Picks – Day Trading!
| Symbol | Breakout | Breakdown | Momentum | Momentum |
| CFG | 38.06 | HMNY | APA | |
| MCD | 161.72 | AAL | W | |
| ZGNX | 41.65 | BIDU | SHOP | |
| MO | 65.17 | NTNX | ||
| CBS | 56.91 | ANAB |
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 | Open | +10.94% | |
| 8 | 3.10.2017 | ABT | Long | Open | +2.03% | |
| 9 | 9.10.2017 | ZGNX | Long | Open | +4.60% | |
| 10 |