Morning Dose: Market Surges China Optimism Ignites Futures
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 Monday, October 13th, and we are looking at a big, big rebound attempt this morning.
A huge rebound. Futures are just soaring. After the beating we took late last week, this is exactly the kind of snapback the bulls wanted to see. S&P futures are up over 70 points!
It’s a complete one-eighty from Friday’s mood. And it seems to be all thanks to a weekend of more optimistic social media posts from the President regarding China.
Overnight Headlines
It’s classic market whiplash. On Friday, the message was “very hostile,” warning of massive new tariffs. The market hated that, especially tech. Then, over the weekend, the tone shifted completely to “Don’t worry about China, it will all be fine!”
China tensions are easing. Also, reports confirm a ceasefire in Gaza, removing significant global uncertainty.
Economic Announcements
No major economic data scheduled today. The bond market is closed for the holiday.
Earnings Highlights
Tomorrow kicks off earnings season with the big banks, so today is positioning ahead of that.
Top Movers
- AAPL – Apple in discussions to acquire talent and technology from Prompt AI.
- WBD – Warner Brothers rejects Paramount’s takeover approach, but a hostile bid could be on the table.
Quick Trade Ideas
Focus on key levels like SPY resistance at 662 and QQQ resistance just above 600. Pay attention to semiconductor sector dynamics and upgrades/downgrades.
Key Takeaway
The overall sentiment is cautiously optimistic today, but the market is under pressure. Be defensive and nimble, focus on specific setups showing relative strength rather than chasing the broad market gap-up blindly.