All three major benchmarks are on their way to weekly wins, but it was far from the smooth sailing investors have gotten accustomed to. This week was rife with choppy price action, as investors wrangled with earnings reports, gold prices coming back down to earth, and simmering trade tensions. Upbeat inflation data ultimately helped cut through the noise, however, leading to records for the Dow, S&P 500, and Nasdaq to end the winning week.
So Many Earnings Reports, So Little Time
Cleveland-Cliffs (CLF)kicked off this week's earnings calendar with a post-earnings bull gap and hints of rare earth exploration. Among blue chips, Coca-Cola (KO), Lockheed Martin (LMT), and IBM (IBM), and Procter & Gamble (PG)all made big moves. Netflix (NFLX) also turned heads amid a tax dispute in Brazil. In the tech sector, AI demand helped Intel (INTC) in the earnings confessional, though Texas Instruments (TXN) wasn't as fortunate.
Speculation, Short Squeeze Stocks to Know
Although speculative stocks haven't been as parabolic this month as they were in September, many big names still found themselves in the news. Beyond Meat (BYND) is leading the meme stock renaissance, while Chewy (CHWY) is flashing a "buy" signal. Quantum computing stocks may be getting some U.S. government money soon, and two heavily-shorted stocks, Carvana (CVNA) and Hims & Hers Health (HIMS), tested key trendlines.
Earnings, Fed Excitement to End October
Before gorging themselves on candy next Friday night, investors have the Federal Reserve's two-day policy meeting and interest rate decision. More earnings should keep options traders on their toes, too. In the meantime, check out the 25 best stocks to target in Q4, historically, and as usual keep tabs on this key S&P 500 trendline.
