Trade Easier Major Update: Article begins below
We have announced a new offering at Trade Easier! This is our largest update since the launch of Trade Easier - one we are ecstatic to bring you. The past few months, we have diligently been working behind the scenes with our new partners. We have partnered up two expert traders to create a course/trading system taught personally by a 30 year Wall Street expert!
Being a Wall Street professional licensed since 1988 he has held roles from stockbroker, to portfolio manager, to working in private equity. He has has even worked with the former VP of Merrill Lynch, creating a fund for ultra-high-net-worth-folks.
He has created a 10-week system taught live each week, with assigned homework & soon to be completed full-fledged online course system with tests, quizzes, and video walkthroughs for students to learn effectively live and on their own time. The system is based on simple trading concepts - NOT learning every candlestick pattern as hedge fund managers don't actually care about that stuff. It is actually much simpler than anything we have been taught before. Sign up for the pre-release trial and see for yourself.
This system will be apart of a new tier offered at Trade Easier, combined with all of our other offerings like our site, bots, watchlists, VCs, & live trading. Sign up with this link to get your trial fee waived for one free week! The Trade Easier system will be unveiled November 15th.
Introduction
Stocks surged on Friday, launching November on a high note, primarily driven by significant gains in major tech stocks, particularly Amazon. Investors appeared unfazed by weaker-than-expected job numbers, focusing instead on solid earnings from Amazon and Intel.
Weekly Market Overview
The Dow Jones Industrial Average gained 288.73 points, or 0.69%, closing at 42,052.19. The S&P 500 climbed by 0.41%, ending at 5,728.80, while the Nasdaq Composite led the gains, advancing 0.8% to close at 18,239.92. Despite mixed results for the week—S&P 500 down 1.4% and Nasdaq down 1.5%—Friday’s rally brought a positive shift after a challenging October. Last month saw the Dow decline by 1.3%, the S&P 500 by 1%, and the Nasdaq by 0.5%.
Powell’s Speech: A Dovish Shift?
The Federal Reserve’s policy meeting, scheduled for Nov. 6-7, remains a focal point as investors anticipate a potential 25 basis-point rate cut in November. Rob Williams, chief investment strategist at Sage Advisory, noted the significant influence of large-cap tech stocks on market movement, stating that while market breadth is broadening, tech giants remain dominant.
Market Reactions: Tech Stocks Lead the Charge
Amazon shares surged by 6.2%, propelled by strong performance in its cloud and advertising divisions, surpassing Wall Street’s earnings expectations. Intel followed closely with a 7.8% rise after delivering higher-than-expected revenue and positive future guidance. These gains helped offset post-earnings declines from other tech names like Microsoft and Meta, which weighed on broader indices earlier in the week.
Expert Opinions on the Fed’s Path Forward
Clark Bellin, president and CIO at Bellwether Wealth, remarked on Friday’s job report, which showed only 12,000 jobs added in October, far below the expected 100,000. He attributed the softness to temporary factors such as recent hurricanes and Boeing’s labor strike, adding, "The job report slowdown is unlikely to shift the Fed’s anticipated rate cut." Despite the weakest job growth since December 2020, the unemployment rate held steady at 4.1%, in line with forecasts.
Sector Highlights: Mixed Results for the ‘Magnificent 7’
The week saw varied performance among the "Magnificent 7" stocks. Amazon led with a 6% weekly gain, nearing an all-time high post-earnings. However, Apple and Microsoft weighed on the Dow, with Apple falling 4% for the week and Microsoft dipping over 3% following a weak revenue outlook. Microsoft did rebound by nearly 2% on Friday after a 6% drop on Thursday, while Apple continued its slide, falling another 1.5%.
Outlook for the S&P 500
The start of November brought a welcome change after a difficult October. Historical data suggests that gains in the first trading days of November often set a positive tone for the rest of the month. Analysts continue to watch for stability, particularly from tech giants and Fed policy shifts that could impact growth stocks into the year-end.
Bitcoin Dips Below $70,000 to Begin November
After closing October at $70,334.10 with a 10.86% gain, Bitcoin dipped 1.6% to $69,182.90 to start November. This marked its strongest monthly performance since May 2024, although some analysts caution against volatility following the recent rally.
Dollar Index Climbs Amid Weak Jobs Data
The U.S. dollar strengthened, with the dollar index rising 0.3% to 104.30 on Friday. Despite lackluster jobs data, the dollar gained 0.6% against the yen, trading near 153 yen.
Utilities Sector Lags on Friday
Utilities fell 1.9%, marking it as the worst-performing sector of the day. AES led the decline with a 9% loss, followed by Entergy and NRG, down 5.6% and 3.9%, respectively.
Concerning October Jobs Report: Health Care, Government Lead Gains*
Health care and social assistance added 51,300 jobs, with government positions increasing by 40,000. Wholesale trade also saw growth, adding 10,400 jobs in October.
Conclusion
As November begins, the positive market momentum is a promising start after the October downturn. Investors are keeping a close eye on upcoming economic data and policy decisions, particularly the Federal Reserve’s meeting and the U.S. presidential election. With the potential for further rate cuts, market sentiment remains optimistic as Wall Street gears up for the final months of the year.
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