There were no spooky plot twists on Wall Street this week. Big Tech earnings, trade deal developments, and a Fed meeting all took turns dominating the headlines leading up to Halloween. Choppiness and volatility still managed to rear their ugly heads, however. Just when mid-week records were nabbed, AI valuation concerns triggered profit-taking, only for a different batch of large cap tech earnings to stabilize sentiment. With October in the rear view, all three major indexes picked up weekly and monthly wins.
Do You Like Tech Stocks?
Every subsector within the broader tech envelope was in focus this week. Fintech stocks and semiconductor stalwarts had their moments, while Seagate Technology's (STX) stellar report flew under the radar. Data center utility powerhouse Blo0m Energy (BE) kept up its winning ways, to the delight of Schaeffer's Top Stock Picks of 2025 fans. Options traders loaded up on Wolfspeed (WOLF), fresh off a bankruptcy impasse, and old faithful IBM (IBM) has an enticing technical setup worth monitoring.
But make no mistake, the week belonged to large cap tech titans. Meta Platforms (META), Microsoft (MSFT), Apple (AAPL), and Amazon.com (AMZN) earnings all triggered frenetic options activity.
Don't Forget About the Old Economy
While the Magnificent Seven stole the show, don't forget about the classics of the 'old economy'. UnitedHealthcare (UNH) earnings left much to be desired, and job cuts put UPS (UPS) in investor crosshairs. Lululemon (LULU) is buzzing after a NFL link-up, while options traders drilled these two blue chips after their respective earnings reports. Fast casual restaurant stocks felt the pain from Chipotle's brutal earnings report, but that doesn't seem to bother food delivery stock DoorDash (DASH).
Can a Historically Bullish Month Deliver Yet Again?
November is here, and our team has the seasonality data you need entering a historically bullish period. Earnings reports will get the majority of the headlines, but if you ever want a break from Big Tech, we've got you covered over at our Substack, The Contrarian Edge.
