https://www.howestreet.com/2024/10/just-a-handful-of-stocks-boosting-dow-higher-mark-leibovit/

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GREAT COMMENTARY FROM WAYNE ALLEN ROOT:

https://tinyurl.com/uzjwbuu8

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BULL TRAP CONDITION CONTINUES TO EXIST DESPITE WHAT YOU HEAR IN THE MEDIA

DANGER DANGER WILL ROBINSON

Inflation is not caused by the actions of private citizens, but by the government: by an artificial expansion of the money supply required to support deficit spending. No private embezzlers or bank robbers in history have ever plundered people’s savings on a scale comparable to the plunder perpetrated by the fiscal policies of statist governments.

~ Ayn Rand

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U.S. Stocks Close Little Changed After Seeing Modest Strength For Most Of The Day

Stocks saw modest strength for much of the session on Thursday before giving back ground late in the trading day to close roughly flat. The Dow still managed to reach a new record closing high.

The Dow ended the day up 161.35 points or 0.4 percent at 43,239.05, while the Nasdaq crept up 6.53 points or less than a tenth of a percent to 18,373.61 and the S&P 500 edged down 1.00 point or less than a tenth of a percent to 5,841.47.

Strength among semiconductor stocks supported the markets for much of the session before a late-day pullback, although the Philadelphia Semiconductor Index still ended the day up by 1.0 percent.

The strength in the sector came after Taiwan Semiconductor Manufacturing Company (TSM) reported a sharp increase in third quarter profits.

The strong results from TSMC offset concerns about the outlook for semiconductor demand following a warning from Dutch chipmaker ASML (ASML) earlier in the week.

“The fate of the global stock market hinged on TSMC’s results and fortunately everything is fine in AI land,” says Dan Coatsworth, investment analyst at AJ Bell.

Positive sentiment was also generated in reaction to a batch of largely upbeat U.S. economic data, including a Commerce Department report showing retail sales increased by slightly more than expected in the month of September.

The Commerce Department said retail sales rose by 0.4 percent in September after edging up by 0.1 percent in August. Economists had expected retail sales to rise by 0.3 percent.

Excluding sales by motor vehicle and parts dealers, retail sales climbed by 0.5 percent in September after rising by 0.2 percent in August. Ex-auto sales were expected to inch up by 0.1 percent.

A separate report released by the Labor Department showed an unexpected pullback by first-time claims for U.S. unemployment benefits in the week ended October 12th.

The report said initial jobless claims fell to 241,000, a decrease of 19,000 from the previous week’s revised level of 260,000.

Economists had expected jobless claims to inch up to 260,000 from the 258,000 originally reported for the previous week.

With the unexpected pullback, jobless claims gave back ground after reaching their highest level since hitting 261,000 in the week ended June 17, 2023.

Meanwhile, the Federal Reserve released a report showing industrial production in the U.S. fell by slightly more than expected in the month of September.

The Fed said industrial production decreased by 0.3 percent in September after rising by a downwardly revised 0.3 percent in August.

Economists had expected industrial production to dip by 0.2 percent compared to the 0.8 percent increase originally reported for the previous month.

The slightly bigger than expected decline by industrial production partly reflected a strike at Boeing (BA) and the effects of Hurricanes Helene and Milton.

Other Markets

In overseas trading, stock markets across the Asia-Pacific region moved mostly lower during trading on Thursday. Japan’s Nikkei 225 Index slid by 0.7 percent, while China’s Shanghai Composite Index slumped by 1.1 percent.

Meanwhile, the major European markets have moved to the upside after the ECB lowered interest rates. While the French CAC 40 Index jumped by 1.2 percent, the German DAX Index advanced by 0.8 percent and the U.K.’s FTSE 100 Index climbed by 0.7 percent.

In the bond market, treasuries gave back ground after trending higher over the past few sessions. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 7.7 basis points at 4.093 percent.

Looking Ahead

Reaction to the latest earnings news may impact trading on Friday, with streaming giant Netflix (NFLX) among the companies due to report their quarterly results after the close of today’s trading.

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https://tinyurl.com/4tz84y6t

As Hurricane Milton slams Florida, scientists have joined officials battling the latest conspiracy theory in the deluge of disinformation: weather manipulation.

The conspiracy theory claims that recent hurricanes have been geo-engineered for special interests by the government. Like most conspiracy theories, this weather manipulation conspiracy is gleaned from a nugget of nuanced reality.

“The most durable conspiracy theories really do stem from a very small piece of truth that’s usually at the center of a bunch of other lies and myths and hoaxes and things like that,” according to Mike Rothschild, conspiracy theory expert and author of “Jewish Space Lasers: The Rothschilds and 200 Years of Conspiracy Theories.”

The latest disinformation swirling the hurricanes have pointed to Project STORMFURY, an effort whereby U.S. government attempted “human interference and hurricane modification” during the Cold War.

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https://tinyurl.com/2ejnk9mh

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ELON MUSK’S AUTONOMOUS ASSISTANT

https://tinyurl.com/pku6hysk

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Yes, that’s a cartoon of me.  Louis Rukeyser had us dressed up in ‘elf’ costumes on the screen broadcast each week.  I’ve dated myself. That occurred for me between 1988-1996.  Lou didn’t like any bearish comments, so myself and other elves got dumped in 1996.  

WHO am I?

MARK LEIBOVIT is Chief Market Strategist for LEIBOVIT VR NEWSLETTERS  a/k/a VRTrader.Com. His technical expertise is in overall market timing and stock selection based upon his proprietary VOLUME REVERSAL (TM) methodology and Annual Forecast Model.

Mark’s extensive media television profile includes seven years as a consultant ‘Elf’ on “Louis Rukeyser’s Wall Street Week” television program, and over thirty years as a Market Monitor guest for PBS “The Nightly Business Report”.  He also has appeared on Fox Business News, CNBC, BNN (Canada), and Bloomberg, and has been interviewed in Barrons, Business Week, Forbes and The Wall Street Journal and Michael Campbell’s MoneyTalks.

In the January 2, 2020 edition of TIMER DIGEST MAGAZINE, Mark Leibovit was ranked the #1 U.S. Stock Market Timer and was previously ranked  #1 Intermediate U.S. Market Timer for the ten year period December, 1997 to 2007.

He was a ‘Market Maker’ on the Chicago Board Options Exchange and the Midwest Options Exchange and then went on to work in the Research department of two Chicago based brokerage firms.  Mr. Leibovit now publishes a series of newsletters at www.LeibovitVRNewsletters.com.   He became a member of the Market Technicians Association in 1982.

Mr. Leibovit’s specialty is Volume Analysis and his proprietary Leibovit Volume Reversal Indicator is well known for forecasting accurate signals of trend direction and reversals in the equity, metals and futures markets. He has historical experience recognizing, bull and bear markets and signaling alerts prior to market crashes. His indicator is currently available on the Metastock platform.

His comprehensive study on Volume Analysis, The Trader’s Book of Volume published by McGraw-Hill is a definitive guide to volume trading.  It is now also published in Chinese.  Mark has appeared in speaking engagements and seminars in the U.S. and Canada.

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• Donations to LGBTQIA+ organizations

  Some shareholders have argued that Disney’s donations to organizations that serve the LGBTQIA+ community are “extreme pursuits” that ignore the beliefs of most Americans.

• Inclusion of LGBTQ+ characters

  Some critics have taken issue with Disney’s inclusion of LGBTQ+ characters and elements in stories, such as a same-sex kiss in Lightyear and a nonbinary character in Elemental.

• Black Ariel in Little Mermaid

  Some critics have taken issue with the inclusion of a Black Ariel in the recent Little Mermaid.

• Economic and reputational consequences

  Some claim that Disney’s “woke virtue signaling” has had economic and reputational consequences, with Disney’s market cap falling nearly 40% since February 2021. 

In response to these criticisms, Disney CEO Bob Iger has said that: 

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RFK Jr. Shreds Democrats for Abandoning Democracy

https://tinyurl.com/24sh92xa

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I USE JOEL WALLACH’S SUPPLEMENTS EVERY DAY.  MAY AGAIN PROVIDE A LINK TO PURCHASE THEM HERE

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