Monday Market Mixed Before Crazy, Pivotal Week | Live Stock

Kevin Travers joined discussion · Nov 5 00:44

Good morning, traders. Happy Monday, November 4th. The market climbed to start the first full week of a new month featuring an FOMC decision, a presidential election, and a smattering of earnings across fintech, movie studios, and consumer brands. It will be a wild week.

My name is Kevin Travers; here is the news animal spirits moving markets today.

$The Mosaic (MOS.US)$ stock climbed 8%, the highest on the S&P 500, after news that Belarus President Alexander Lukashenko wants to cut the potash supply 10%, to boost the price. Belarus exports 40% of the world potash supply, a main ingredient in fertilizer that companies like Mosaic sell.

$Constellation Energy (CEG.US)$ stock fell 10% despite beating revenue estimates in Q3 and formally announcing a plan to restart Unit 1 of Three Mile Island to create nuclear energy for Microsoft. The stock slump hit multiple nuclear power companies after a federal commission ruled Amazon could not harness energy outside of the electrical grid in a nuclear reactor deal for 480MW of power from Talen Energy in the Susquehanna Valley. Instead, Amason will get 300 MW. Micorosft's deal is different because Three Mile Island will be connected to the grid, and they will not be the sole receiver of the nuclear power, Barrons reported.

Investors await $Palantir (PLTR.US)$ earnings Monday, $Super Micro Computer (SMCI.US)$ and $Ferrari (RACE.US)$ Tuesday, $Qualcomm (QCOM.US)$ and $CVS Health (CVS.US)$ Wednesday, and $Datadog (DDOG.US)$, $Warner Bros Discovery (WBD.US)$, $Block (SQ.US)$, $Airbnb (ABNB.US)$, $Rivian Automotive (RIVN.US)$ Thursday.

Monday Market Mixed Before Crazy, Pivotal Week | Live Stock

Within industries tracked by moomoo, Insurance companies fell, on the news over the weekend that $Berkshire Hathaway-B (BRK.B.US)$, a major owner of insurers like Geico reported a profit that fell 6% in the past quarter.

$Crude Oil Futures(FEB5) (CLmain.US)$ climbed 2% after renewed violence and tension in Israel, including vows from Iran to strike back.

$Bitcoin (BTC.CC)$ hovered 0.68%, Gold and silver climbed a bit but last hit all-time highs two trading days ago. $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ and the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ both fell.

The market overall climbed, but after 11:38 am ET started to look red. The $S&P 500 Index (.SPX.US)$ fell 0.17% the $Dow Jones Industrial Average (.DJI.US)$ fell 0.68%, and the $Nasdaq Composite Index (.IXIC.US)$ fell 0.06%.

In macro, investors are awaiting a serious week. S&P and ISM PMI data come on Tuesday, but the highlight of the week will be the FOMC rate decision on Thursday. According to the FOMC's own dot plot projections, investors are waiting for two more rate cuts this year. Friday, investors will see Michigan inflation expectations from a consumer survey.

Who will win the Presidential Election, and how will it affect the market?

We want YOU to tune in live on November 5th, U.S. election day, for a special moomoo news and community event. Come watch Nov 5th at 6:30 PM ET as the vote counts roll in with our local news team and a party of guests! Subscribe: click here to join the live discussion NOW!

Over the weekend, users talked about their tactics before election day. Many pointed out stocks and industries they would watch, like tech, energy, and healthcare. One user said the market is at or near all-time highs, yet there is still $6T sitting in money market accounts outside of the stock market, waiting for a chance to return.

Traders, what do you think, is the market in 2024 about following the herd? What you watching on the stock market today? What is the herd following? Let me know in the comments below!

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