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

NEXT PODCAST – THIS WEEK IN MONEY ON THE WEEKEND

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/

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

Following the steep drop seen during Wednesday’s session, the major U.S. stock indexes turned in a mixed performance during trading on Thursday. The Nasdaq and the S&P 500 regained ground, but the narrower Dow saw further downside to close lower for the fourth straight day.

The major averages finished the day on opposite sides of the unchanged line. While the Dow dipped 140.59 points or 0.3 percent to 42,374.36, the S&P 500 rose 12.44 points or 0.2 percent to 5,809.86 and the Nasdaq climbed 138.83 points or 0.8 percent to 18,415.49.

The rebound by the tech-heavy Nasdaq was partly due to a surge by shares of Tesla (TSLA), with the electric vehicle maker soaring by 21.9 percent.

The spike by Tesla came after the company reported better than expected third quarter earnings and CEO Elon Musk said his “best guess” is “vehicle growth” will reach 20 to 30 percent next year.

Shares of UPS (UPS) also saw significant strength after the delivery giant reported third quarter results that exceeded analyst estimates on both the top and bottom lines.

On the other hand, a nosedive by shares of IBM (IBM) weighed on the Dow, with the tech giant plunging by 6.2 percent after reporting weaker than expected third quarter revenues.

Fellow Dow component Honeywell (HON) also tumbled by 5.1 percent after the conglomerate reported better than expected third quarter earnings but revenue missed estimates.

Boeing (BA) also moved to the downside after the aerospace giant’s machinists union rejected a new labor deal, extending a six-week strike.

Sector News

Most of the major sectors ended the day showing only modest moves, although substantial weakness was visible among airline stocks, with the NYSE Arca Airline Index plunging by 3.5 percent.

Southwest Airlines (LUV) led the sector lower, plummeting by 5.6 percent even though the airline reported better than expected third quarter results.

Gold stocks also showed a substantial move to the downside despite an increase by the price of the precious metal, dragging the NYSE Arca Gold Bugs Index down by 2.9 percent.

On the other hand, housing stocks saw considerable strength on the day, driving the Philadelphia Housing Sector Index up by 1.5 percent.

The strength among housing stocks came after the Commerce Department released a report showing new home sales surged to their highest level in over a year in September.

Other Markets

In overseas trading, stock markets across the Asia-Pacific region moved mostly lower on Thursday. Hong Kong’s Hang Seng Index tumbled by 1.3 percent and China’s Shanghai Composite Index fell by 0.7 percent, although Japan’s Nikkei 225 Index bucked the downtrend and inched up by 0.1 percent.

Meanwhile, the major European markets showed modest moves to the upside on the day. While the German DAX Index rose by 0.3 percent, the U.K.’s FTSE 100 Index and the French CAC 40 Index both inched up by 0.1 percent.

In the bond market, treasuries regained ground after moving notably lower over the past several sessions. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 4.2 basis points to 4.200 percent.

Looking Ahead

Trading on Friday may be impacted by reaction to a report on durable goods orders and a revised reading on consumer sentiment.

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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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