Insider Financial recaps last week's stock market action and covers the stocks to watch this week.
This video covers SPY, QQQ, DIA, IWM, TLT, DJT, CGC, SMCI, TIGR, SOUN, and ATPC.
Video Summary
First, an update from our last Sunday night video watchlist.
DJT has been our biggest winner over the past month, with a 178% gain. Trump’s poll numbers have improved, and the betting odds favor him. The election is next week. 17% float short.
Congrats to all who banked in DJT.
Regarding the overall market, The S&P 500 (SP500) on Friday slipped 0.96% for the week to end at 5,808.12 points, posting losses in four out of five sessions.
The earnings season shifts into top gear next week, with investors also receiving financial figures from five of the Magnificent 7 firms.
Next week will be a big one for the S&P 500 with more than 40% of the index by market cap expected to report. All eyes will be on the Big Tech names.
Monday
Federal Reserve Board members will be in a blackout period ahead of the FOMC meeting set for November 6-7.
Tuesday
Alphabet (GOOGL) and AMD earnings.
Wednesday
The Bank of Japan will hold its two-day monetary policy meeting. Nomura said that while it expects the BOJ to hike rates in December, the firm thinks it would be premature for it to start hinting at a rate hike at this meeting.
Microsoft, META and Starbucks earnings.
Thursday
8:30 am The core PCE price index report for September will be released. The Fed's favored inflation gauge was up 2.7% year-over-year in August and was 2.6% higher in both July and June.
Apple, Amazon and Intel reporting.
Friday
8:30 a.m.: The U.S. Bureau of Labor Statistics will release the October Jobs Report. Economists forecast that 120K jobs were added during the month and that the unemployment rate would hold steady at 4.1%.
A couple of small caps to keep an eye on:
CGC almost 11% float short. With the election coming up, both candidates are trying to get votes and have been taking favorably of cannabis legalization.
SMCI 20% float short. Getting ready to break out one way or another.
TIGR looking for bounce. China stimulus just starting.
SOUN 23% float short. Trading at trendline support. AI play. Looks to be gearing up for another run. We caught the run earlier this year.
Finally ATPC a low floater to kick off the trading week. Float just 2.87m shares. Lots of chatter tonight on Stocktwits from Stocksrockman and OG Tigress. Go and check out what they have to say.
Bottom Line
As we keep saying, there are always opportunities in the markets, and it’s our job to find winning stocks to trade. Huge gains can be made in such a short amount of time.
It’s essential to look for stocks that have yet to run. There are plenty of opportunities, and we look at hundreds of stocks weekly for our subscribers.
Remember, all it takes is one or two to become a winner, and you’ve crushed the market indices (and Jim Cramer) for the year.
Good luck to all (except the shorts and Cramer)!
WHEN INSIDER FINANCIAL HAS A NEW COMPANY TO RESEARCH, IT IS IMPORTANT TO PAY ATTENTION. AFTER ALL, OUR FREE NEWSLETTER PROFILED MANY TRIPLE-DIGIT WINNERS FOR SUBSCRIBERS. WE ALWAYS ARE LOOKING FOR MOMENTUM BEFORE IT HAPPENS!
Disclosure: We have not been compensated for this article/video. Insider Financial is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.
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