Market News

(Justin Vaughn, Editor, Options Trading Report) Fed Chair Jerome Powell announced a quarter point interest rate cut last Thursday; he and the Board of Governors felt it prudent and wise to keep on the offensive in the inflation fight. The general market was undisturbed by the move, having ‘built-in’ the expected cut. “We are committed to maintaining our economy’s strength,” Federal Reserve Chair Jerome Powell said at a news conference after the announcement. He made … Read more…

(Justin Vaughn, Editor, Options Trading Report) After a week of peaks and valleys, last Friday ended on a peak, with investors and traders coming off the sidelines and stepping into market action. Stock market activity was brisk at opening with the Dow Jones Industrial Average heading North on the way to adding 289 points. The Nasdaq Composite and S&P 500 followed, up 0.8% and 0.1% respectively. Value stocks were the heroes of the day, while … Read more…

(Justin Vaughn, Editor, Options Trading Report) According to FactSet data, after one third of S&P 500 companies reporting third quarter results, over 75% have bested expectations. (the 5 year average is 77%). This week results from the magnificent seven and heavy-techs, lead off reporting. “Corporate America has held up really, really well given that rates are higher for longer,” said Sylvia Jablobski, CEO and chief investment officer at Defiance ETFs. For the week just ended … Read more…

(Justin Vaughn, Editor, Options Trading Report) Last week’s market finished up again after several days of churning higher with the S&P 500 and the Dow Jones Industrial Average cresting to record new highs. The Magnificent 7 and big techs soared to new highs also, finishing the week strong. The earning parade continued with a majority of companies’ releases beating year-over-year numbers. Oil was weaker, closing down $1.45 a barrel. Gold moved steadily up hitting $2,713.70 … Read more…

(Justin Vaughn, Editor, Options Trading Report) Monday’s market was about more record index highs, as the S&P 500 hit another new record and the Dow Jones Industrial Average crested 43000 as the index marched up 200 points. Technology stocks were the buzz of the day as the Magnificent 7, chip stocks and big favorites blazed to many new levels, back on track after many weeks of ‘whip-sawing.’ Bitcoin was actively rising to the $67,000 range … Read more…

(Justin Vaughn, Editor, Options Trading Report) The September Jobs report was better than expected, surprising economists and even the Fed and snuffing out any speculation of another half percent rate cut. Recession thoughts are disappearing as the labor market charges ahead. The unemployment rate has remained steady at near 4.1%, with 254,000 jobs added in September. As the Labor Market continues to ‘chug-along’ with no signs of weakening, and inflation cooling, prospects for Mr.Powell’s hopes … Read more…

(Justin Vaughn, Editor, Options Trading Report) Stocks rebounded last Thursday and Friday as the good news overrode negative news… Labor perked up as jobless claims were less than expected and demand for durable goods orders was strong. The Dow Jones Industrial Average snapped up 260 points Thursday with both the S&P 500 and Nasdaq Composite tracking up 0.45% and 0.6% respectively. Friday the Dow Jones hit another high for the “37th time this year.” More … Read more…

(Justin Vaughn, Editor, Options Trading Report) After all the hoopla, after Mr. Powell’s giant release of the half point rate cut, markets drifted with the indexes all closing a slight bit higher for the week, but very uneventful. Still the Dow Jones Industrial Average managed a new record high, over 42000 after a spirited move on Wednesday, supported by good data on Labor and lower interest rates. By Friday it was back to a ho-hum … Read more…