Thursday 31 October 2024

Tricks, treats, and trading

Happy Halloween!
 
   
     
   
 
OCTOBER 31, 2024
   

Editor’s Note: Today, Jack Carter revealed the pre-election volume SPIKE he’s watching most closely. Catch his thoughts here

Hey y’all! 

Happy Halloween! 

I love “spooky season”, as the kids call it these days, but Halloween has never been my favorite part of it. I normally can’t be bothered with a costume, and strangers coming up to my door over and over again to ask for candy is triggering to my little introverted brain.

But the days getting cooler? The leaves changing color? 

The music

Halloween music is the best holiday music, hands down. Sorry, Christmas fans. (I do love Christmas music, too!)

 
 

So wherever you are, I hope you’re enjoying your Halloween, or your October 31st, or whatever you consider today!

As for the markets…

Well, they continue to be mired in neutral, as I talked about a few days ago.

META gave us an interesting reminder of the duality of earnings season: they beat expectations, but the stock sank overnight.

 
 

META is already recovering, but its selloff might have as much to do with the fact that it’s climbed over $100 per share since last earnings as anything else.

It’s a good bet for a quick recovery, though, since the fundamentals are still strong, and AI is a big part of their future plans.

Last but not least, PCE fell in line with expectations this morning, which the Fed will be happy about.

 
 

If we get a rate cut again, it’ll happen on November 7th, right after the election. Right now, markets are pricing in an almost 100% likelihood of a 0.25% rate cut, smaller than last time around. 

May your trading today be filled with treats, and no tricks!

To your prosperity,

Stephen Ground
Editor-in-Chief, ProsperityPub

 
   
 

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