Morning Dose: Tech Titans Thrive Frenzy as Futures Soar
A quick analysis of today’s market outlook and key trading opportunities to start your day.
Intro & Market Mood
Good morning and welcome to The Morning Dose – Everything You Need to Know Before the Market Opens. It is Monday, November 10th, and futures are absolutely flying! S&P futures are up over 60 points, and the Nasdaq is soaring around 375. Today’s mood is highly optimistic and risk-on.
Overnight Headlines
The Senate advanced a measure to reopen and fund the government through late January, signaling an end to the shutdown. Globally, Asian and European markets are strong, reflecting positive sentiment.
Economic Announcements
- China pulled out of deflation with higher CPI data for October.
- China also ended the ban on exporting key materials to the U.S., positively impacting supply chains.
Earnings Highlights
- Instacart beat estimates with order growth of fourteen percent year-over-year.
- Tyson Foods posted a significant beat.
- Monday.com beat on its quarter but gave weaker guidance for Q4.
Top Movers
NVIDIA is surging as strong demand for new chips boosts confidence in the semiconductor sector.
Quick Trade Ideas
- Watch for a potential deal between VISA and Mastercard to reduce interchange fees.
- Keep an eye on Robinhood allowing users to invest in private A.I. companies.
Key Takeaway
While the market is celebrating today’s risk-on rally, be cautious of underlying weakness. Monitor the market’s internals closely, especially the breadth of participation, for a true indication of market health.