SPY & QQQ Climb as Tech Earnings, Inflation Data Loom

Market Moves: Mega-cap tech stocks like $NVIDIA (NVDA.US)$ and $Tesla (TSLA.US)$ pushed the $SPDR S&P 500 ETF (SPY.US)$ up by 0.01% to $579.30 and $Invesco QQQ Trust (QQQ.US)$ up by 0.72% to $495.88 as of Friday afternoon.
Tech Sector Momentum: $Nasdaq Composite Index (.IXIC.US)$ set new records, supported by optimism on Fed rate policy and robust tech earnings.

$Tesla (TSLA.US)$ & $NVIDIA (NVDA.US)$ Gains: Tesla surged nearly 22% on Thursday and added another 3% on Friday; Nvidia continued its two-day rally, boosting both SPY and QQQ.
Caution Among Retail Investors: Despite gains, sentiment on SPY has turned "extremely bearish" ahead of critical data and earnings releases.

Earnings from Major Tech Players: $Apple (AAPL.US)$ , $Meta Platforms (META.US)$ , $Microsoft (MSFT.US)$ , $Alphabet-C (GOOG.US)$ , and $Amazon (AMZN.US)$ are all set to report next week, which could influence market sentiment. Strong earnings may continue the rally, while misses could lead to a pullback.
Economic Data & Fed Policy: Key inflation data on Thursday and non-farm payrolls on Friday will provide insight into the Fed’s rate trajectory ahead of its Nov. 6-7 meeting. Currently, markets anticipate a 97.6% chance of a 25-basis-point rate cut.