https://www.howestreet.com/2024/10/gold-silver-oil-cycles-brics-inflation-eric-hadik-mark-leibovit-ross-clark-this-week-in-money/

NEXT PODCAST – THURSDAY EVENING

 

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

 

U.S. Stocks Finish Choppy Trading Day Mostly Lower On Late-Day Weakness

Stocks showed a lack of direction throughout much of the session on Wednesday but came under pressure in the latter part of the trading day. The major averages spent most of the day bouncing back and forth across the unchanged line before sliding more firmly into negative territory.

After reaching a new record intraday high in early trading, the tech-heavy Nasdaq fell 104.82 points or 0.6 percent to 18,607.93. The S&P 500 also dipped 19.25 points or 0.3 percent to 5,813.67, while the Dow slipped 91.51 points or 0.2 percent to 42,151.54.

The choppy trading seen for most of the trading day came as investors reacted to a mixed batch of corporate earnings and U.S. economic news.

Shares of Alphabet (GOOGL) jumped by 2.8 percent after the Google parent reported third quarter results that beat analyst estimates on both the top and bottom lines.

Snapchat parent Snap (SNAP) also soared by 15.9 percent after reporting better than expected third quarter results and announcing a $500 million stock repurchase program.

Meanwhile, shares of Advanced Micro Devices (AMD) plunged by 10.6 percent after the chipmaker reported third quarter revenues that beat expectations but provided disappointing fourth quarter revenue guidance.

Dow component Caterpillar (CAT) also slumped by 2.1 percent after the construction equipment maker reported weaker than expected third quarter earnings.

On the U.S. economic front, payroll processor ADP released a report showing private sector employment in the U.S. shot up by much more than anticipated in the month of October.

ADP said private sector employment surged by 233,000 jobs in October after jumping by an upwardly revised 159,000 jobs in September.

Economists had expected private sector employment to climb by 115,000 jobs compared to the addition of 143,000 jobs originally reported for the previous month.

However, a separate report released by the Commerce Department showed U.S. economic growth unexpectedly slowed in the third quarter.

The Commerce Department said gross domestic product shot up by 2.8 percent in the third quarter after surging by 3.0 percent in the second quarter. Economists had expected another 3.0 percent jump.

The unexpected slowdown in the pace of GDP growth primarily reflected a downturn in private inventory investment and a larger decrease in residential fixed investment.

Sector News

Semiconductor stocks pulled back sharply after rallying on Tuesday, dragging the Philadelphia Semiconductor Index down by 3.4 percent.

The steep drop by AMD weighed on the sector along with a nosedive by shares of Qorvo (QRVO), which plummeted by 27.3 percent after the company provided disappointing fiscal third quarter earnings guidance.

Substantial weakness was also visible among computer hardware stocks, as reflected by the 2.6 percent slump by the NYSE Arca Computer Hardware Index.

Shares of Super Micro Computer (SMCI) plunged by 32.7 percent after the tech company revealed Ernst & Young has resigned as its auditor.

Telecom, gold and steel stocks also moved notably lower on the day, while some strength remained visible among housing stocks.

Other Markets

In overseas trading, stock markets across the Asia-Pacific region moved mostly lower on Wednesday. Hong Kong’s Hang Seng Index tumbled by 1.6 percent and China’s Shanghai Composite Index fell by 0.6 percent, while Japan’s Nikkei 225 Index bucked the downtrend and jumped by 1.0 percent.

The major European markets also moved to the downside on the day. While the U.K.’s FTSE 100 Index slid by 0.7 percent, the French CAC 40 Index and the German DAX Index both slumped by 1.1 percent.

In the bond market, treasuries gave back ground after seeing early strength, closing slightly higher. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, dipped less than a basis point to 4.266 percent after hitting a low of 4.198 percent.

Looking Ahead

Trading on Thursday may be impacted by reaction to reports on weekly jobless claims and personal income and spending, which includes the Federal Reserve’s preferred inflation readings.

On the earnings front, Meta Platforms (META), Microsoft (MSFT), Amgen (AMGN), eBay (EBAY), DoorDash (DASH) and Starbucks (SBUX) are among the companies reporting their quarterly results after the close of today’s trading.

Bristol-Myers (BMY), Comcast (CMCSA), MasterCard (MA) and Uber (UBER) are also among the companies due to report their quarterly results before the start of trading on Thursday.

https://www.metastock.com/offer/event/?whc=traders-conference&pc=eq-vrtrader

Excellent poltiical commentary from Vancouver’s Michael Campbell:

 

 

https://tinyurl.com/2ejnk9mh

https://tinyurl.com/2fxvpr32

TERRIFIC MARTIN ARMSTRONG INTERVIEW ON TRACK 3

https://www.howestreet.com/2024/10/silver-gold-uranium-us-civil-war-real-estate-martin-armstrong-hilliard-macbeth-ross-clark-this-week-in-money/

OPPORTUNITY TO ACCESS MARK LEIBOVIT’S PROPRIETARY VOLUME REVERSAL INDICATOR – THIS IS THE ONLY PLACE TO DO IT!

https://www.metastock.com/products/thirdparty/?3PC-ADD-VRIS

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.

The Walt Disney Company has been criticized (MYSELF INCLUDED) for its “woke” content and has faced backlash from conservative politicians and social media voices. Some of the criticisms include: 

  • 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: 

  • Disney’s biggest priority is entertaining audiences

  • Disney is focused on the future, not the past

  • Disney needs to be more sensitive to the interest of a broad audience

  • Disney’s primary mission is to entertain and then have a positive impact on the world through entertainment

RFK Jr. Shreds Democrats for Abandoning Democracy

https://tinyurl.com/24sh92xa

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

COME ON, DAD. IT’S TIME TO EAT

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