Morning Dose: Tech Surge Signals Bullish Start
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.
Good morning! Kicking off November with strong momentum from October. Tech leading the charge, Nasdaq futures up over 160 points. Market cautiously bullish with strong earnings and trade clarity.
Overnight Headlines
White House details on China trade deal released. Main overhang of uncertainty removed, additional 100% tariff suspended for a year.
Economic Announcements
October I-S-M Manufacturing Index report at 10 AM Eastern. Consensus expects 49.4, signaling continued sector contraction below 50.
Earnings Highlights
- BioNTech (BNTX): Strong beat on earnings and revenue, stock up almost 3%.
- IDEXX Labs (IDXX): Beat on top and bottom lines, raises full-year forecast.
Top Movers
Kenvue: Acquired by Kimberly-Clark, Kenvue up over 22%, Kimberly-Clark down almost 18%.
Caribou Biosciences (CRBU): Incredible 140% surge on positive clinical trial results for anti-C-D-19 therapy.
Alvotech (ALVO): Down more than 23% after FDA rejection.
Quick Trade Ideas
NVIDIA: Potential entry after positive news, watching for pullback.
Focus on tech and consumer discretionary momentum, be nimble and avoid chasing big moves at open.
Key Takeaway
Stay cautiously bullish, watch sector breadth, stick with leaders, and be prepared for a volatile week.
Manage risk, wait for setups, and let trades come to you to navigate the active market.