Weekly Buzz: I hope you did not get hurt by the storm
Happy Friday, mooers! Welcome back to Weekly Buzz where we talk about the top news and buzzing stocks on moomoo this week! Comment below to answer the Weekly Topic Question for a chance to win an award!
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Weekly Buzz
The week started with Chinese stocks hitting year highs before a lack of fresh stimulus sent them reeling. FOMC meeting minutes Wednesday for the rate cut decision day showed 50 basis points was a majority decision, and the market responded with an S&P 500 and Dow closing high. The market waited for inflation macro data, and it came in a little hotter than expected Thursday, but bank earnings on Friday were enough to kickstart the third-quarter earnings season with fresh record highs.
Crude oil faced volatility during the week after multiple strikes between Israel and its enemies in the Middle East, what looked like preparation for a large-scale invasion of Lebanon, but no definite plan for retaliatory attacks on Iran.
Friday after the close, Indexes had climbed for the week. In the past five sessions, the $S&P 500 Index (.SPX.US)$ climbed 1.11%, the $Dow Jones Industrial Average (.DJI.US)$ climbed 1.21%, and the $Nasdaq Composite Index (.IXIC.US)$ climbed 1.13%
$Crude Oil Futures(JAN5) (CLmain.US)$ started the week with a massive climb on Monday. Hamas militants fired missiles into Israel Monday, while Israel launched strikes targeting Hesbala in Lebanon on the anniversary of a terrorist attack targeting Israel one year ago that began a devastating Middle East conflict.
In macroeconomics land, Friday's macro numbers came from PPI and Michigan consumer expectations. The U.S. Producer Price Index came in unchanged month over month. Consumer expectations for inflation grew to 2.9% for one year.
Thursday, CPI numbers showed prices grew 2.4% year over year in September, above estimates of 2.3% but still at a three-year low. Core prices rose 3.3%, right at a four-month average. Initial jobless claims came in at 253k, a high not seen since June 2023.
In the Federal Reserve Open Market Committee minutes released Wednesday, several participants in the meeting said a 25 basis point cut would be a more gradual and predictable "path of normalization." Still, the majority of participants voted for a 50 bp cut.
"A substantial majority of participants supported lowering the target range for the federal funds rate by 50 basis points to 4-3/4 to 5 percent," the minutes read.
Atlanta Fed President Raphael Bostic spoke upbeat about the economy overall Tuesday night. Still, he said Tuesday that he is monitoring high storms in his district that could harm economic activity.
"Just in my district, in the last two weeks, we've had...these massive weather events, first Hurricane Helene, now we've got Milton that's bearing down on Florida," Bostic said.
In weather news, a massive hurricane hit Florida Thursday night, the second big storm in two weeks. Bloomberg estimated the storm caused $75B in damage. Our own @Invest with Sarge had to batten down the hatches and put up sandbags in his central Floridian home- he made it out unscathed, but we wish him and his family a speedy repair and recovery.
Anyway, let's dive into the buzzing stocks this week:
$NVIDIA (NVDA.US)$ hit record highs this week-- sales figures from Nvidia's key supplier $Taiwan Semiconductor (TSM.US)$ were a potential catalyst for the stock earlier in the day. On Wednesday, the company reported a 40% rise in its September sales from last year.
@咖波猫: I dont advise anyone buy at this price point
$Tesla (TSLA.US)$ stock fell 7% Friday, the lowest on the S&P 500 after its Thursday night earnings event did not impress investors. The firm announced a two-door driverless taxi that weaved through a Warner Bros lot and a 20-person van. Production will not begin on the $30k self-driving ride service vehicle until 2026, the firm said.
@10baggerbamm: Dan Ives was on TV a short while ago. he attended the event yesterday. he came away more enthusiastic than ever that the robo taxi is real
Nio and other chinese stocks hit year highs since the start of September on government stimulus news- but since have fallen. The sector climbed until Tuesday. Overnight, a Chinese economic planning agency press conference disappointed investors who were hoping for further stimulus, according to Wall Street Journal.
The $CSI 1000 Index (000852.SH)$ fell 7% Wednesday, after a 23% climb since the government annouced stimulus. The $CSI 300 (LIST20861.HK)$ fell the most in one session since 2020. The Chinese Ministry of Finance that it would hold a news conference this upcoming Saturday.
HSBC analyst Yuqian Ding maintains $NIO Inc (NIO.US)$ with a buy rating, and adjusts the target price from $7.9 to $7.2, according to TipRanks
@Red Guppy: Time to rest.
$Super Micro Computer (SMCI.US)$ saw heavy trading in call options Monday after the stock jumped 14% after the company reported that it's shipping more than 100,000 graphic processing units (GPUs) a quarter.
Up Fintech, a Chinese fintech kept climbing until a lack of fresh government money sent the stock dropping like a rock.
@102597866: Tiger went to nap again?
According to MarketWatch: $Trump Media & Technology (DJT.US)$ shares resumed their rally Thursday, climbing more than 17% with less than a month to go until the presidential election. Is a bet on President Donald Trump ahead of the U.S. presidential election on Nov. 5. The shares after CEO Elon Musk spoke with Trump at a campaign rally in Butler, Pa., on Saturday.
@105229176: beware of pump dump
Bitcoin mostly fell this week before a jolt on Thursday and Friday sent the coin higher.
@STOCKS GUY FR: easy 5 percent gain if it goes accordingly to 65k.
Apparently, Palantir bought shares in electric vehicle start-up Faraday Future Intelligent Electric, according to Al Root at Barron's/ Palantir, which provides services to government and commercial businesses, and has a market value of almost $100 billion, now owns 1.1 million shares of Faraday, a company with a market capitalization of about $30 million, according to a recent filing with the Securities and Exchange Commission.
@Edm_ken: scam stock. just like nvidia
Thursday, things took a turn for the better as the People's Bank of China announced measures to boost the stability of the domestic equity market, according to Benzinga. In a statement released on its website, the PBoC said it has decided to establish the "Securities, Funds and Insurance Companies Swap Facility," or SFISF, to support qualified securities, funds and insurance companies to exchange bonds, stock exchange-traded funds and CSI 300 constituent stocks and other assets for high-grade liquid assets such as Treasury bonds and central bank bills from the central bank. Alibaba still fell all week.
@Dooomer: monday will drop 15%
Nothing happened in the news with this stock
@Ghost2737: barcoding again
Thanks for reading!
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Weekly Topic Question
Are JPM and Wells Fargo earnings a sign of the next three months? Are we finally back? Please do not thank me for reward points in your post, I am just doing my job.
Comment below and share your ideas! We will select up to 15 TOP COMMENTS for a reward next week. Winners will get 200 points by next week, with which you can exchange gifts at Reward Club.
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EZ_money : i think retail is getting set up for a big
thrown at us.
HuatEver : JPM and Wells Fargo’s earnings could be a positive sign for the months ahead. It feels like the market might finally be turning a corner. If these results are any indication, we could see more stability through the end of the year, possibly even setting the stage for a Santa rally as we move into the holiday season![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Stock_Drift : It’s been a crazy and fun week @Stock_Drift HQ, with $Verb Technology (VERB.US)$ just exploding this afternoon post R/S and $MicroAlgo (MLGO.US)$ looking like it’s inside a pinball machine.
Have a good and relaxing weekend, @Kevin Travers
102362254 : Wells Fargo and JPM earnings bring some good news but with mixed results. JPM beat expectations and raised its outlook, despite shrinking profit margins due to high interest rates. Wells Fargo also beat earnings but missed on revenue and expects lower profits from interest next year. While high rates help in some areas and hurt in others. The upcoming months, including the potential impacts of the U.S. presidential election, will be important in determining whether the positive trends can be sustained
HuatLady : Many are optimistic about the Q4 and would consider JPMorgan's and Well Fargo's robust earnings reports are positive signals that solidify most stocks to serve as gateways for wealth. Henceforth, what's the outlook for the following 4th Quarter? Or would investors be lulled on a false sense of security?
. So far for me, this is the most effective strategy for building a healthy investment portfolio ![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
It's a challenging investing landscape! In my view, the key issue remains the importance of investing in great quality stocks for the long-term to overcome these challenges
102181510 :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
102181510 :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Betterthangold EZ_money : Getting ready? You’ve been eating it for 2.5 years. At what point do ppl swallow their pride and admit they missed the “big squeeze?”
104247826 :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
ZnWC : Thanks for the event![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
$JPMorgan (JPM.US)$ and $Wells Fargo & Co (WFC.US)$ earnings report better than expected Q3 results that reflect resilient in the U.S. Consumers. The 2 stocks rose 4.4% and 5.6% respectively after earnings call.
As one of the biggest money lenders, I think it is a sign of a bull market coming back at least for the financial sector. This is mainly due to the Fed 50 bps rate cut. But I can't say for individual stock as it depends on the fundamentals of the company.
Beside Financial stocks, my bet on stocks that will "come back" are Tech, REIT and Energy (FRET). Some said Healthcare and Commodity. But we have to prepare for volatility risk due to market uncertainty. Hence my portfolio includes ETF (S&P500) to diversify my risk.
Having said the above the uptrending will be challenging. We must DYODD and not be misled by baseless posts. It is important to have an investment plan (and goal) and always avoid fear and greed.
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