Morning Dose: Intel’s Surge Signals Semiconductor Strength
A quick analysis of today’s market outlook and key trading opportunities to start your day.
Intro & Market Mood
Welcome to The Morning Dose – Everything You Need to Know Before the Market Opens. It is Friday, October twenty-fourth, and the market seems poised to end the week on a positive note. Futures are indicating a higher open, with S&P futures up about twenty points and the Nasdaq leading the way, up over one hundred and twenty. There is a definite positive vibe in the market this morning.
Overnight Headlines
President Trump has confirmed a meeting with Chinese President Xi next week, injecting optimism into trade talks. The focus is on potential progress in US-China trade relations. Intel’s stellar earnings report is driving up the semiconductor sector, with the stock up seven percent pre-market. Ford beat earnings estimates, while Alaska Air struggles with missed earnings and operational issues.
Economic Announcements
Today’s highlight is the September CPI report, expected to show a 0.4% increase. The market is eagerly awaiting this delayed release for insights on inflation trends against the backdrop of a highly probable Fed rate cut.
Earnings Highlights
- Intel (INTC): Beat on top and bottom lines, up 7% pre-market.
- Ford (F): Beat estimates, up nearly 4%.
- Alaska Air (ALK): Missed earnings, facing operational challenges.
Top Movers
Analyst calls include Coinbase upgraded to Overweight and Snap downgraded to Sell. Corporate news includes Target planning layoffs and Nicolet Bankshares acquiring MidWestOne in an all-stock deal.
Quick Trade Ideas
Watch for resistance levels at 670 for SPY and 615 for QQQ. Tech and consumer discretionary sectors show relative strength.
Key Takeaway
The market sentiment is cautiously optimistic with positive trade news and strong earnings. Stay nimble around the CPI data release at 8:30 Eastern time. Pay attention to volume and watch tech and consumer discretionary sectors for potential trading opportunities.
Have a great trading day and a wonderful weekend!