Invesco QQQ Trust, Series 1 (NASDAQ: QQQ)

最新ニュース Invesco QQQ Trust, Series 1 (NASDAQ:QQQ)

Invesco QQQ Trust, Series 1

Technology

Consumer Cyclical

Communication Services

Healthcare

Consumer Defensive

Industrials

Other

Utilities

Financial Services

Energy

Real Estate

To maintain the correspondence between the composition and weights of the securities in the trust (the securities) and the stocks in the NASDAQ-100 Index, the adviser adjusts the securities from time to time to conform to periodic changes in the identity and/or relative weights of index securities. The composition and weighting of the securities portion of a portfolio deposit are also adjusted to conform to changes in the index.

Apple Inc

Microsoft Corp

Nvidia Corp

Amazon.Com Inc

Broadcom Ltd

Meta Platforms, Inc.

Tesla Motors, Inc.

Alphabet Inc Cap Stk Cl A

Alphabet Inc

Costco Whsle Corp

Earnings

Equities

News

Futures

Previews

Economics

Federal Reserve

Pre-Market Outlook

Markets

Movers

Trading Ideas

$BTC

CSCO

GOOGL

HNHPF

LITE

NVDA

PFGC

PTON

８月３日（水）午前８時３０分（米国東部時間）に公表される消費者物価指数（CPI）速報に先駆け、主要指数先物は神経質な値動きを示している。債券利回りは消費者物価指数発表前に低下している。今回の報告が価格圧力の緩和が続いていることを確認した場合、米連邦準備制度理事会（FRB）は利上げを余儀なくされる可能性がある。経済学者やストラテジストは、FRB総裁のジェローム・パウエル氏が今月末に予定されている＜ジャクソンホール・シンポジウム＞で、利上げ見通しについてさらに明確な見解を示すと予想している。

ウォール・ストリート　主要先物指数が反応

Analyst Color

Tech

AAPL

INTC

NVDX

PLTR

SOXL

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

先週8月2日に終了した週は、テクノロジースペースが下落し、テクノロジー選択セレクトセクターSPDRファンド（NYSE：XLK）が5%以上下げ、大型株企業の業績を測るS&amp;P500指数を下回った。今週、テック市場を駆りたてた要因と、これらの株が近期および中期に向けて向かっている方向をまとめた。

大型企業株　S&amp;P500株をSPDRファンドが下回る

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

AMZN

FFXDF

GLIN

MSFT

NXPI

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SPOT

TSLA

本日の注目ポイントは以下の通りです。投機的なセンチメント以下の点に注目：この記事は個別の銘柄ではなく、大局についてのものである。TSLA株のチャートはさまざまな視点について示すために使用されている。

ヒューマロイドロボットの競争激化　市場は投機的に

Poseidon Network

ProShares Nasdaq-100 Dorsey Wright Momentum ETF

Direxion Daily Magnificent 7 Bear 1X Shares

Direxion NASDAQ-100 Equal Weighted Index Shares

QUIZAM MEDIA CORP by Quizam Media Corporation

Quizam Media Corp

Pacer Nasdaq 100 Top 50 Cash Cows Growth Leaders ETF

NEOS Nasdaq 100 High Income ETF

Invesco NASDAQ Next Gen 100 ETF

Invesco NASDAQ 100 ETF

VictoryShares Nasdaq Next 50 ETF

Tradr 2X Long Triple Q Quarterly ETF

Invesco NASDAQ Future Gen 200 ETF

Defiance Nasdaq 100 Income Target ETF

EVOLVE NASDAQ TECHNO UNT ETF

Direxion Daily Magnificent 7 Bull 2X Shares

Tradr 2X Long Triple Q Weekly ETF

Nuveen NASDAQ 100 Dynamic Overwrite Fund - Closed End Fund

Nuveen NASDAQ 100 Dynamic Overwrite Fund

GLOBAL X NASDAQ 100 INDEX CL A ETF

Defiance Nasdaq 100 Enhanced Options & 0DTE Income ETF

INVSC QQQ TRUST SRS 1 ETF

Friday's trading session saw another robust rally on Wall Street, with the S&amp;P 500 and Dow Jones Industrial Average both reaching new record highs, fueled by better-than-expected third-quarter earnings <a href="https://www.benzinga.com/news/earnings/24/10/41293190/us-banks-top-q3-earnings-estimates-jpmorgan-delivers-robust-beat-financial-sector-stocks-hit-record">from major U.S. banks.</a>
The S&amp;P 500 surged past 5,800 points, while the Dow Jones Industrial Average climbed above 42,800.
Leading the charge were top U.S. financial institutions, which kicked off the earnings season with strong results. JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Wells Fargo &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), Bank of New York Mellon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>), and BlackRock Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) all beat analysts&#8217; earnings expectations. The upbeat results from these banking giants triggered a rally in financial stocks, pushing the sector to an all-time high. 
Furthermore, gains spilled over to regional banks and the broader small-cap universe, as the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) and the Russell 2000 rallied 2.7% and 1.7%, respectively. 
Meanwhile, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) plunged by 8%, on track for its worst session in more than a month, with analysts expecting further declines after the lack of clear business plans for robotaxis and no updates on the lower-cost production vehicle, following the highly anticipated Robotaxi <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41295072/tesla-robotaxi-day-event-more-fanfare-than-substance-8-analysts-on-cybercab-optimus">Day on Thursday.</a>
On the macroeconomic front, inflation remains in focus. Following Thursday&#8217;s hotter-than-expected Consumer Price Index (CPI) report, Friday's Producer Price Index (PPI) data also came in above forecasts, indicating a setback <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41290382/producer-inflation-rises-more-than-expected-in-september-as-food-transportation-c">in the disinflationary narrative.</a>
Despite the inflation uptick, market expectations for a Federal Reserve rate cut in November remained largely unchanged. According to CME's FedWatch tool, there is still an 85% probability of a 25-basis-point rate cut next month.
In the commodities space, oil prices steadied after surging 3.5% on Thursday, amid a lack of relevant news from the Middle East front. Gold advanced 1.2%, while silver gained 1.4%.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) also posted notable gains, rising over 3% in response to the strong earnings report from BlackRock, which showed higher-than-expected fund inflows. Investors appear optimistic about continued institutional interest in cryptocurrencies.
<h1 class="wp-block-heading">Friday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,223.00</td>
<td>1.7%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,727.13</td>
<td>0.6%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,807.71</td>
<td>0.5%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,259.87</td>
<td>0.1 %</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:35 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent101124&amp;t=be2bearmibe3na1">Benzinga Pro</a> data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;rose 0.4% to $578.52.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.6% to $427.37.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) held steady at $492.55.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 1.6% to $220.38.</li>
<li>The Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) outperformed, up 1.9%. The Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) lagged, down 0.4%.</li>
</ul>
<h1 class="wp-block-heading">Friday&#8217;s Stock Movers</h1>
<ul>
<li>Uber Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NASDAQ">UBER</a>) rose 9.1% in reaction to the dismal Robotaxi event. </li>
<li>Shares of JPMorgan Chase &amp; Co. rose 4.8% in reaction to upbeat quarterly earnings. </li>
<li>Other banks reacting to earnings reports were Wells Fargo &amp; Co., up 6.1%, BlackRock Inc., up 2.4%, and Bank of New York Mellon, down 1.8%. </li>
<li>Fastenal Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FAST#NASDAQ">FAST</a>) rallied 9.1% after reporting stronger-than-expected earnings. </li>
<li>Shares of Affirm Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) rallied over 10% after Wells Fargo upgraded the stock from Equal Weight to Overweight.</li>
</ul>
Read Now:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41295766/kinder-morgans-core-business-is-robust-now-bofa-upgrades-stock">Kinder Morgan&#8217;s &#8216;Core Business Is Robust Now,&#8217; BofA Upgrades Stock</a></li>
</ul>
Photo: Shutterstock

Large Cap

Macro Economic Events

Mid Cap

Broad U.S. Equity ETFs

Small Cap

Econ #s

ETFs

AFRM

SPDR Dow Jones Industrial Average ETF Trust

FAST

UBER

XLRE

Select Sector SPDR-Consumer Discretionary

Wall Street Marks New Highs As Bank Stocks Rally, Tesla Tumbles As Robotaxi Disappoints: What's Driving Markets Friday?

WIIM

Major indexes are higher following strong bank earnings and September PPI data.

To gain an edge, this is what you need to know today.
<figure class="wp-block-image size-large is-resized"><img decoding="async" src="https://thearorareport.com/wp-content/uploads/2024/10/2024-10-11_09h06_57.png" alt="" style="width:624px" /></figure>
<h3 class="wp-block-heading">Opportunities In Humanoid Robots</h3>
Please <a href="https://thearorareport.com/chart-analysis-stock-market-inflation-humanoid-robots-cybercab-tesla-tsla-mc-10112024">click here</a> for an enlarged chart of Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).
Note the following:
<ul>
<li>This article is about the big picture, not an individual stock. The chart of TSLA stock is being used to illustrate the point.</li>
<li>The chart shows that TSLA stock ran up in anticipation of the Cybercab event, dubbed by Tesla CEO Elon Musk as We, Robot.</li>
<li>The chart shows that TSLA stock hit the top resistance zone and backed off.</li>
<li>The chart shows a big drop in TSLA stock after the much hyped Cybercab event.</li>
<li>The chart shows that TSLA stock has now fallen in the premarket, significantly below the lower resistance zone.</li>
<li>RSI on the chart shows that TSLA stock is now oversold.</li>
<li>From a technical perspective, the combination of the foregoing is a negative.</li>
<li>In spite of the sell the news reaction, Musk's presentation was impressive.</li>
<li>In The Arora Report analysis, the global revenue opportunity for robotaxis is about $2T, 15 years from now. Tesla is well positioned to capture a meaningful portion of the $2T market.</li>
<li>Tesla bulls are delighted by the details given in Musk's presentation. However, Tesla bears are highly critical that there were not enough details.</li>
<li>Musk showed off humanoid robots dancing and pouring drinks. Musk said that humanoid robots may be the biggest product ever. In The Arora Report analysis, we agree with Musk. Of note, is that Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is hard at work to produce humanoid robots. </li>
<li>The reaction to Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) Advancing AI event has also been to sell the news. AMD bears point to AMD not naming new customers.</li>
<li>Inflation at the producer level came inline with expectations. Here are the details:
<ul>
<li>Headline PPI came at 0.0% vs. 0.1% consensus.</li>
<li>Core PPI came at 0.2% vs. 0.2% consensus.</li>
</ul>
</li>
<li>Earnings season has started. The most important earnings are from the country's largest bank, JPMorgan Chase &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>).  JPM earnings are inline with the whisper numbers. As full disclosure, JPM is in The Arora Report&#8217;s ZYX Buy Core Model Portfolio, long form $34.14.</li>
<li>University of Michigan consumer sentiment will be released at 10am ET and may be market moving.</li>
</ul>
<h3 class="wp-block-heading">Magnificent Seven Money Flows</h3>
In the early trade, money flows are neutral in Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Alphabet Inc Class C (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and AAPL.
In the early trade, money flows are negative in NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), and TSLA.
In the early trade, money flows are neutral in SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>).
<h3 class="wp-block-heading">Momo Crowd And Smart Money In Stocks</h3>
Investors can gain an edge by knowing money flows in SPY and QQQ. Investors can get a bigger edge by knowing when smart money is buying stocks, gold, and oil.  The most popular ETF for gold is SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>).  The most popular ETF for silver is iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>). The most popular ETF for oil is United States Oil ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>).
<h3 class="wp-block-heading">Bitcoin</h3>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is range bound.
<h3 class="wp-block-heading">Protection Band And What To Do Now</h3>
It is important for investors to look ahead and not in the rearview mirror.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges. The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive. If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash.&nbsp; A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.  When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks. High beta stocks are the ones that move more than the market.
<h3 class="wp-block-heading">Traditional 60/40 Portfolio</h3>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less.&nbsp; Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter-benzinga">Generate Wealth Newsletter</a>.

Market Summary

General

GOOG

Humanoid Robots May Be Biggest Product Ever, Sell The News On Tesla's We, Robot And AMD's AI Event

U.S. index futures point to a modestly lower opening on Friday as traders hope for better tidings on the wholesale prices front. Thursday&#8217;s<a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41270761/september-inflation-hotter-than-expected-jobless-claims-spike-the-most-in-over-a-"> slightly hotter-than-expected consumer price inflation data</a> kept sentiment subdued throughout the session before the major averages closed modestly lower. Following the inflation data, Harris Financial Group Managing Partner Jamie Cox said, &#8220;Disinflation continues, but anyone who thought the Fed was going to lower rates by another .50 basis points in November is dead wrong.&#8221;
&#8220;When interest rates aren't high enough to lower growth, they aren't high enough to stifle inflation completely either. &nbsp;The Fed will lower rates, but at a measured pace from here,&#8221; he added.
Tesla, Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Robotaxi event failed to kickstart a rally in the stock. JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) is set to kickstart big bank earnings this season and its earnings are seen as a barometer of how healthy the sector is.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.32%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.19%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.16%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.43%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Friday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) edged down 0.10% to $575.53 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) moved down 0.20% to $491.60, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
With inflation readings coming slightly ahead of expectations across the board and jobless claims jumping to the highest in over a year due to Hurricane Helene, stocks opened Thursday&#8217;s session lower. The reports sent bond yields surging higher. 
The 30-stock Dow Jones Industrial Average languished in the red throughout the session, while the tech-heavy Nasdaq Composite Index and the broader S&amp;P 500 Index remained below the flat for the bulk of the day. 
In the process, the Dow and the S&amp;P 500 Index pulled back from their record highs. 
All but three of the S&amp;P 500 sector classes ended in the red, with the holdouts being energy, IT and material stocks,
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.05%</td>
<td>18,282.05</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>0.21%</td>
<td>5,780.05</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-0.14%</td>
<td>42,454.12</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.55%</td>
<td>2,188.42</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
LPL Chief Technical Strategist Adam Turnquist weighed in on the bull market, which is completing two years on Oct. 12. Since then, the S&amp;P 500 has gained 62% while registering 44 record highs, he noted. 
The strategist said low volatility has been a welcome personality trait of this bull market. The maximum drawdown for the S&amp;P 500 since its Oct. 12, 2022, closing low has only been 10.3%, running below the average maximum drawdown of all bull markets of -14.2%, he added.
Looking ahead, Turnquist said most bull markets remain bull markets into their third year of life. Since 1950, the duration of a bull market has averaged 61 months, excluding the current bull market, with the shortest lasting for 21 months running from March 2020 to January 2022, he said.
That said, the current 27.2% annualized return is running relatively high compared to other bull markets, Turnquist said. &#8220;History implies that if this bull market continues, investors should expect positive, but likely more muted annualized returns going forward,&#8221; he added.

&quot;Times New Roman&quot;;color:#111111;mso-font-kerning:18.0pt">See also: <a style="font-size: revert;" href="https://www.benzinga.com/money/best-futures-trading-software">
&quot;Times New Roman&quot;;mso-font-kerning:18.0pt">Best Futures Trading Software</a>
Upcoming Economic Data
<ul>
<li>The Labor Department is scheduled to release the producer price inflation report for September at 8:30 a.m. EDT. The headline and core producer prices may have increased 0.1% and 0.2%, respectively, in September. This compares to the 0.2% and 0.3% rates in August. The annual rates of headline and core producer price inflation are expected at 1.6% and 2.7%, respectively, versus 1.7% and 2.4% in August.</li>
<li>Among the Fed officials speaking on Friday are:
<ul>
<li>Chicago Fed President Austan&nbsp;Goolsbee: 9:45 a.m. EDT</li>
<li>Dallas Fed President Lorie Logan: 10:45 a.m. EDT</li>
<li>Federal Reserve Governor Michelle Bowman: 1:10 p.m. EDT</li>
</ul>
</li>
<li>The University of Michigan&#8217;s preliminary consumer sentiment index for October at 10 a.m. EDT. The headline consumer sentiment index is expected to rise from 70.1 in September to 71 in October. Traders may also focus on the one-, two- and five-year inflation expectations readings.</li>
</ul>
Stocks In Focus:
<ul>
<li>Tesla plunged for 5.60% <a href="https://benzinga.grsm.io/register174">in premarket trading</a> following the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41286875/tesla-analysts-rave-over-cybercabs-design-cost-advantage-but-production-timeline-sp">company&#8217;s Robotaxi event.</a> Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) and Lyft, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>), which offer ride-hailing services, moved in sympathy.</li>
<li>BlackRock, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>), JPMorgan, Wells Fargo &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), Fastenal Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FAST#NASDAQ">FAST</a>) and Bank of New York Mellon Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) are among the notable companies due to <a href="https://www.benzinga.com/calendars/earnings">report their quarterly results ahead of the market open.</a></li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures fell after Thursday&#8217;s strong advance, while gold futures firmed up. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) traded nearly flat under $61K. The 10-year Treasury note yield was little changed at 4.092%.
Sentiment in Asia was muted as China stocks fell sharply and the U.S inflation data surprised to the upside. The Hong Kong market was closed on account of a public holiday. 
The European markets were mixed, with traders reacting to mostly weak data released by the U.K. 
Read Next:
<ul>
<li><a href="https://www.benzinga.com/etfs/sector-etfs/24/10/41282123/oil-rises-over-3-hits-76-as-middle-east-tensions-mount-israel-strikes-un-peacekeeper-bases-in-le">Oil Rises Over 3%, Hits $76 As Middle East Tensions Mount: Israel Strikes UN Peacekeeper Bases In Lebanon, Threats Against Gulf Oil Facilities Emerge</a></li>
</ul>
Image Via Shutterstock

LYFT

Wall Street On Backfoot As PPI Print, JPMorgan Earnings Loom: This Strategist Expects Positive Market Performance, But With Muted Returns

Major U.S. equity indices edged lower on Thursday following a hotter-than-expected Consumer Price Index (CPI) inflation report for September and as oil prices spiked, driven by fuel disruptions caused by Hurricane Milton and rising tensions <a href="https://www.benzinga.com/topic/middle-east">in the Middle East.</a>
The S&amp;P 500 slipped 0.2% from its record high set on Wednesday, while the Dow Jones Industrial Average and the tech-heavy Nasdaq 100 mirrored the decline. Small-cap stocks lagged, with the Russell 2000 dropping 0.9%.
Consumer prices rose 2.4% year-over-year in September, slightly down from August&#8217;s 2.5% rate but above the consensus estimate of 2.3%. Core inflation, which strips out the volatile energy and food categories, also came in higher than expected, ticking up from 3.2% to 3.3%.
Despite the inflation uptick, economists and investors remained broadly steadfast in their expectations of a 25-basis-point interest rate cut in November. 
In a separate report, weekly unemployment claims surged to 258,000 for the week ending Oct. 5, exceeding forecasts. The spike was likely influenced by auto industry layoffs in Michigan and disruptions caused by Hurricane Helene.
Oil prices rebounded sharply after two days of losses, with West Texas Intermediate (WTI) crude climbing more than 3% to $75 per barrel. Natural gas prices also advanced over 2%.
Energy stocks outperformed the broader market as a result of the rally in oil prices. 
Experts, cited by Reuters, indicated that power outages in Florida, the closure of several product terminals, delayed tanker truck deliveries, and pipeline disruptions would likely keep gasoline prices elevated.
In the Middle East, Israeli forces reportedly fired on UN peacekeeping bases in southern Lebanon, resulting in injuries to two soldiers, according to UN sources. This incident occurred amid ongoing hostilities between Israel and Hezbollah, a militant group based in Lebanon. The incident prompted a sharp response from Italian Defense Minister Guido Crosetto, who summoned Israeli diplomats for an explanation.
Treasury yields remained stable, while the U.S. dollar gained modestly. Gold and silver prices both rose, with gold advancing 0.5% and silver up 1.5%. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) softened 0.4% to $60,300. 
<h3 class="wp-block-heading">Thursday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,237.38</td>
<td>-0.2%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,779.17</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,346.74</td>
<td>-0.4%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,178.60</td>
<td>-1.0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:00 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent101024&amp;t=be2bearmibe3na1">Benzinga Pro</a> data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;fell 0.2% to $575.45.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;fell 0.4% to $423.47.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) inched 0.2% lower to $492.30.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) tumbled 1% to $215.87.</li>
<li>The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, up 1%. The Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) lagged, down 1%.</li>
</ul>
<h3 class="wp-block-heading">Thursday&#8217;s Stock Movers</h3>
<ul>
<li>Advanced Micro Devices Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) fell over 3%, reflecting some investor disappointment during its Advancing AI keynote.</li>
<li>Celsius Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELH#NASDAQ">CELH</a>) surged 12%, building on a 6% gain from the previous session, as the energy drink stock gained momentum among retail investors. Increased social media chatter pointed to the stock bouncing off key support levels, further fueling the rally.</li>
<li>Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>) shares jumped 7% on Thursday following the company&#8217;s announcement of a new president of product and engineering.</li>
<li>First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) plunged nearly 10% after Jefferies analyst Dushyant Ailani reiterated a Buy rating but lowered the price target from $271 to $266. Peer Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) fell over 5%.</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/10/41257938/fed-minutes-reveal-heated-debate-over-september-interest-rate-move-traders-trim-november-easing-">Fed Minutes Reveal Heated Debate Over September Interest Rate Move: Traders Trim November Easing Bets</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Sector ETFs

CELH

ENPH

FSLR

Stocks Dip As Inflation Slows Less Than Expected, Oil Prices Spike Due To Hurricane Disruptions, Middle East Tensions: What's Driving Markets Thursday?

To gain an edge, this is what you need to know today.
<figure class="wp-block-image size-large is-resized"><img decoding="async" src="https://thearorareport.com/wp-content/uploads/2024/10/2024-10-10_09h03_46.png" alt="" style="width:624px" /></figure>
<h3 class="wp-block-heading">Hotter Inflation</h3>
Please <a href="https://thearorareport.com/chart-analysis-stock-market-hotter-inflation-jobless-claims-spy-mc-10102024">click here</a> for an enlarged chart of SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) which represents the benchmark stock market index S&amp;P 500 (SPX).
Note the following:
<ul>
<li>The chart shows that the stock market made a new high and is above the support/resistance zone.</li>
<li>The chart shows there is selling this morning after the release of economic data.</li>
<li>Most troubling for the stock market is that the Consumer Price Index (CPI) came hotter than expected. Of course, as a member of The Arora Report, it is not a surprise to you – we have been writing that inflation may turn out to be stickier compared to what the stock market expects.  The reason there is selling on the release of the CPI data is that it is a surprise to the market as whisper numbers were inline with the consensus.  Here are the details:
<ul>
<li>Headline CPI came at 0.2% vs. 0.1% consensus.</li>
<li>Core CPI came at 0.3% vs. 0.2% consensus.</li>
</ul>
</li>
<li>On this CPI data, the market would have been down significantly more than what is shown on the chart because the blow from the hot CPI data is being cushioned by newly released jobless claims data.&nbsp; Initial jobless claims came at 258K vs. 229K consensus.&nbsp; The sharp rise in initial claims goes against the narrative that momo gurus have been using to persuade investors to buy stocks.&nbsp; However, temporarily in the early trade, investors are taking comfort in higher jobless claims believing that it will give ammunition to the Fed to continue cutting rates even if inflation is higher.</li>
<li>On September 26, we wrote:</li>
</ul>
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">Did the Fed make a mistake with the 50 bps cut?
</blockquote>
<ul>
<li>We have been sharing with you the economic data that indicates the Fed may have made a mistake. In the latest news, we are now finding out that several FOMC members were not in favor of a 50 bps cut.&nbsp; It appears that Powell had to twist arms to push through a 50 bps rate cut.&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>FOMC minutes show that there was push back from several members against a 50 bps cut.&nbsp; Several members favored a 25 bps cut.&nbsp; In The Arora Report analysis, based on FOMC minutes, Powell will have difficulty with further large cuts unless economic data changes.&nbsp; This is not discounted in the stock market, and thus, is a risk.&nbsp;&nbsp;</li>
</ul>
</li>
<li>Later today there is a Treasury auction.&nbsp; The auction results may move the market.</li>
<li>We have been sharing with you that NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) has been experiencing a strong rally due to its AI Summit.  At a time when the expectations in the stock market are that NVDA stock will move to the resistance zone around $140, after the release of the CPI data, there is selling in NVDA stock. Selling in NVDA stock is bleeding into other AI stocks in the early trade.</li>
<li>The momo crowd is aggressively buying the dip in the early trade. The momo crowd is especially buying AI stocks.</li>
<li>Of note is today is Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) robotaxi day. TSLA stock has run up in anticipation of Tesla's CEO Elon Musk saying great things about robotaxis and perhaps robotics and a lower priced Tesla model. Keep a close eye on TSLA stock.  If what Musk says exceeds expectations, expect TSLA stock to rally towards $300.  On the other hand, if what Musk says is inline with or less than expectations, expect a selloff in TSLA stock.  Whatever happens to TSLA stock will bleed into other AI stocks.</li>
</ul>
<h3 class="wp-block-heading">Magnificent Seven Money Flows</h3>
In the early trade, money flows are positive in Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and TSLA.
In the early trade, money flows are negative in Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Alphabet Inc Class C (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and NVDA.
In the early trade, money flows are negative in SPDR S&amp;P 500 ETF Trust and Invesco QQQ Trust Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>).
<h3 class="wp-block-heading">Momo Crowd And Smart Money In Stocks</h3>
Investors can gain an edge by knowing money flows in SPY and QQQ.  Investors can get a bigger edge by knowing when smart money is buying stocks, gold, and oil.  The most popular ETF for gold is SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>).  The most popular ETF for silver is iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>).  The most popular ETF for oil is United States Oil ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>).
<h3 class="wp-block-heading">Bitcoin</h3>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is range bound.
<h3 class="wp-block-heading">Protection Band And What To Do Now</h3>
It is important for investors to look ahead and not in the rearview mirror.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp; The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp; If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash.&nbsp; A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp; When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp; High beta stocks are the ones that move more than the market.
<h3 class="wp-block-heading">Traditional 60/40 Portfolio</h3>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less.&nbsp; Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter-benzinga">Generate Wealth Newsletter</a>.

Hotter Inflation But Jobless Claims Cushion The Blow – Selling In Nvidia And AI Stocks

Good Morning Traders! In today&#39;s Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA.
Our proprietary formula, exclusive to Market Clubhouse, dictates these price levels. This dynamic equation takes into account price, volume, and options flow. These levels are updated every day and shared with all Clubhouse Members, prior to the opening of the market.
We recommend closely monitoring these stocks, and be prepared to leverage potential breakouts or reversals. As always, stay alert and ready to adjust your tactics based on the market&#39;s pulse to optimize your trading gains. Now, let&#39;s dive into the stock analysis:
<h3>SPDR S&amp;P 500 ETF Trust </h3>
SPY&nbsp;(ARCA: SPY) is currently trading near the level of 575.67. For bullish momentum, buyers need to push above this point, aiming first for a move toward 576.62. Sustaining price action above 576.62 could open the path to the next level at 577.87. If this level holds during regular market hours, a further push to 579.12 is anticipated, with a high bull target set at 580.67 for the day.
On the downside, failure to maintain support at 575.67 could lead to a test of 574.65. If selling pressure persists, the next key area for bears is around 573.50. Should the decline continue with heavy volume, the focus shifts to a significant support zone near 572.15. In a more intense sell-off, the low bear target could reach 571.06.
<h3>Invesco QQQ Trust Series 1</h3>
The QQQ (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>) is currently positioned around the level of 491.82. Bulls need to defend this level to establish it as support, targeting an upward move to 493.60. If buyers maintain strength above 493.60, the price could advance further to 495.35. With sustained buying pressure, a test of 496.94 becomes likely, setting the high bull target at 498.37.
If 491.82 fails as support, bears could gain control, pushing the price down to the 490.05 region. Continued bearish action may lead to a retest of 487.69. If selling remains robust, 486.10 comes into focus as a key level to monitor. Further downside could drive QQQ toward the low bear target at 483.95.
<h3>Apple Inc. </h3>
Apple&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) is currently trading near 229.03. To encourage further bullish momentum, buyers need to establish support here and push the price toward 230.25. Sustained buying could extend the rally to 231.76. If this area is conquered, a move up to 233.28 would align with the high bull target for today.
If 229.03 is lost as support, bears may look to bring the price down to 227.82. Should selling continue, 226.90 becomes the next key level. Persistent bearish activity could see a drop to 225.31, with a deeper move potentially reaching the low bear target at 223.87.
<h3>Microsoft Corp.</h3>
Microsoft&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) is currently trading near 416.32. For bulls, holding above this level is crucial to aim for an initial target of 417.25. If support is confirmed at 417.25, the next upside objective would be 419.17. Should momentum remain strong, Microsoft could rally to its high bull target of 420.26.
Conversely, if 416.32 breaks as support, it may lead to a test of 414.56. If bearish pressure persists, the next focus shifts to 413.14. Should the downtrend intensify, the bears may push the price toward 411.72, with a low target set at 410.64.
<h3>NVIDIA Corporation</h3>
NVIDIA&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) is currently hovering around 132.19. Bulls would need to secure this level as support and drive the price higher toward 133.31. A break above 133.31 could set up a move to 134.56. Should the buying momentum continue, NVIDIA might reach the high bull target of 136.98.
If 132.19 fails as support, bears could look to push the price down to 131.42. In the event of sustained selling, the next area of interest would be 129.53. If downward momentum continues, a drop to 128.10 may be on the cards, with 126.84 as the low bear target.
<h3>Alphabet Inc Class A</h3>
Alphabet&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) is trading close to the 161.79 mark. Bulls would need to establish a base here and aim for a rise to 163.79. If the uptrend holds, the price could advance to 165.41, potentially reaching the high bull target.
Should 161.79 be breached as support, sellers may attempt to drag the price down to 160.36. A further push lower could see 158.54 tested, with a more significant drop potentially reaching the low bear target at 157.41.
<h3>Meta Platforms Inc</h3>
Meta (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) is currently situated around 591.29. To maintain bullish prospects, the price must stay above this level, aiming for an initial move to 598.17. Continued strength could see Meta testing 604.50. With sufficient buying pressure, a push to the high bull target at 609.30 may unfold.
Failure to hold 591.29 as support could signal a shift in momentum, leading to a test of 585.73. If selling persists, the price may target 580.17, with additional downside potentially extending to 573.25, the day&#39;s low bear target.
<h3>Tesla Inc. </h3>
Tesla&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) is trading near 243.98. Bulls need to secure this level and aim for an upside move to 246.16. Sustained upward movement could push Tesla toward 248.37, with potential to test higher levels at 250.25. A strong rally may drive the price to the high bull target at 252.38.
If 243.98 is lost as a support level, Tesla could see a downside move to 242.49. Further selling pressure may bring 239.92 into play. If bearish momentum accelerates, the price could approach the low bear target of 238.50.
Final Word: Today&#39;s trading session will revolve around key economic data releases, starting with the September CPI report at 8:30 AM ET, accompanied by the Initial and Continuing Jobless Claims. These releases are pivotal for gauging inflation trends and labor market conditions, likely stirring market volatility. Later, at 11 AM ET, Federal Reserve&#39;s John Williams will speak, offering potential insights on monetary policy direction. The 1 PM ET 30-Year Bond Auction may also affect interest rate expectations. Given the economic landscape, traders should brace for rapid price changes and prioritize risk management strategies. Good luck, and trade safely!
The Morning Memo is curated by RIPS, a pro trader with years of experience in equities, options, and futures trading. RIPS is at the heart of the exclusive Market Clubhouse community, offering his insights, expertise, and real-time mentorship.
Start your day with a live daily market analysis, a carefully selected watch list, early access to the Morning Memo, and exclusive Market Clubhouse price levels, providing precise support and resistance indicators. When you become a member of Market Clubhouse, you will gain early access to the Morning Memo, just like this one, every single day&mdash;hours before it&#39;s published. You will also have access to a live stream with zero latency and screen sharing, enabling you to witness Rips executing his trades in real-time and sharing his exclusive trading plans, strategies, and live decision-making.
For a limited time during our special promotion, you can join RIPS and get a full access pass to Market Clubhouse for 7 full days for just $7. Check it out at <a href="https://marketclubhouse.club/7Days/" title="https://marketclubhouse.club/7Days/">https://marketclubhouse.club/7Days/</a> where you can trade live with him and tap into his wealth of knowledge and experience. You can also catch Rips on his live day trading streams every Monday-Friday at 8 am EST on the Market Clubhouse YouTube channel: <a href="https://www.youtube.com/@MarketClubhouse" title="https://www.youtube.com/@MarketClubhouse">https://www.youtube.com/@MarketClubhouse</a>.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

Market Clubhouse Morning Memo - October 10th, 2024 (Trade Strategy For SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META And TSLA)

<ul>
<li>TSLA</li>
<li>NVDA</li>
<li>WAY</li>
<li>LOT</li>
<li>MADE</li>
<li>PLTR</li>
<li>YINN</li>
<li>AI</li>
<li>QQQ</li>
<li>BABA</li>
</ul>
Data from <a href="https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment">https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment</a>
&nbsp;

BABA

MADE

YINN

Top 10 Trending Stocks On WallStreetBets As Of October 10, 2024 (Via Swaggy Stocks)

The imminent release of the<a href="https://www.benzinga.com/markets/24/10/41251483/september-inflation-preview-consumer-price-data-holds-the-key-to-feds-next-interest-rate-move"> September consumer price inflation report </a>is keeping sentiment guarded as the index futures trade modestly lower early Thursday. Traders may have to navigate past the September consumer price inflation report and the weekly jobless claims data, both of which have implications for rates. The inflation data is widely expected to confirm the sustained downtrend, while jobless claims may have perked up in the recent week. 
China announced stimulus to support the domestic stock market, which sent stocks in the mainland and Hong Kong higher. Crude oil and gold are all weaker but the bond yield has ticked. Traders may stay focused on the after-effects of Hurricane Milton and the simmering tensions in the Middle East.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.15%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.12%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.09%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.24%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Thursday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) edged down 0.13% to $576.41 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) moved down 0.16% to $492.35, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
Strength in IT, financial, industrial and healthcare stocks pushed the Dow Jones Industrial Average and the S&amp;P 500 Index to fresh records on Wednesday. The S&amp;P 500 Index also clocked a new intraday high. While the tech-heavy Nasdaq Composite also rose, it ended at its highest level since July 16.
Stocks largely ignored the Hurricane Milton threat, which made its landfall in Florida, and digested comments from Fed officials and also information gleaned out of the Fed minutes. 
Among S&amp;P 500 sector classes, only communication services and utility stocks experienced some weakness.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+0.60%</td>
<td>18,291.62</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.71%</td>
<td>5,792.04</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+1.03%</td>
<td>42,512.00</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.26%</td>
<td>2,200.59</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
A Morgan Stanley strategist on Wednesday weighed on the impact of the potential trade policies of the two presidential candidates. &#8220;Trade policy is among the top policy areas that may be most sensitive to the presidential election result,&#8221; said Monica Guerra, Head of Policy, Morgan Stanley Wealth Management. 
The impact of tariffs on the economy could be wide-ranging, pressuring consumers and affecting growth, inflation and stock market performance, she said. Vice President Kamala Harris&#8217; trade policy appears to be a continuation of President Joe Biden's, but is still opaque, creating some uncertainty for investors, while Republican candidate Donald Trump&#8217;s proposals included increasing tariffs on China as well as a universal tariff, which could pressure productivity, growth and add inflationary pressure, she said.
The strategist recommended investors mitigate the impact of tariffs by considering defensive sectors such as consumer staples, healthcare and utilities, as well as select retailers with less exposure to offshore production.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Upcoming Economic Data:
<ul>
<li>The Labor Department is scheduled to release its customary weekly jobless claims report at 8:30 a.m. EDT. Economists, on average, expect the number of individuals claiming unemployment benefits to come in at 230,000 for the week ended Oct. 5, up from 225,000 in the previous week.</li>
<li>The September CPI report, due at 8:30 a.m. EDT, is expected to show a 0.1% month-over-month increase in the headline number, a tick down from the 0.2% growth in August. The annual rate of CPI is expected to slow from 2.5% to 2.3%. The monthly and annual core CPI rates for September are expected at 0.2% and 3.2%, respectively, compared to August&#8217;s 0.3% and 3.2%.</li>
<li>Among the Fed speakers due to speak are:
<ul>
<li>Federal Reserve Governor Lisa Cook: 9:15 a.m. EDT</li>
<li>Chicago Fed President Austan Goolsbee (TV interview): 10 a.m. EDT</li>
<li>Richmond Fed President Tom Barkin: 10:30 a.m. EDT</li>
<li>New York Fed President John Williams: 11 a.m. EDT</li>
</ul>
</li>
<li>The Treasury will auction four- and eight-week bills at 11:30 a.m. EDT and 30-year bonds at 1 p.m. EDT.</li>
</ul>
Stocks In Focus:
<ul>
<li>GXO Logistics, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GXO#NYSE">GXO</a>), a spin-off unit of XPO, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>), rose about 6% <a href="https://benzinga.grsm.io/register174">in premarket trading </a>after Bloomberg said the company is rumored to be exploring a potential sale.</li>
<li>10x Genomics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXG#NASDAQ">TXG</a>) slumped over 21% following the company&#8217;s preannouncement.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rose over 1% <a href="https://www.benzinga.com/news/24/10/41266991/teslas-robotaxi-to-take-flight-with-doors-that-open-like-butterfly-wings-report">ahead of its Robotaxi event.</a></li>
<li>Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), Domino&#8217;s Pizza, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NYSE">DPZ</a>) and Tilray Brands, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) are among the notable companies due to <a href="https://www.benzinga.com/calendars/earnings">report their quarterly results ahead of the market open.</a></li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures climbed sharply ahead of the inflation data and gold futures were modestly higher. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) pulled back nearly 2% over the past 24 hours and has slipped under $61K. The 10-year Treasury note yield rose 1.5 points to 4.082%.
Most major Asian markets ended higher for the day, as domestic traders drew inspiration from the positive close on Wall Street overnight. The Chinese and Hong Kong markets led the gains in the region after the <a href="https://www.benzinga.com/markets/asia/24/10/41265266/alibaba-jd-com-xpeng-soar-in-hong-kong-as-pbocs-fresh-stimulus-to-boost-stock-market-sends-chinese-m">People&#8217;s Bank of China announced new stimulus</a> to support the stock market. 
On the other hand, European stocks retreated in early trading 
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/10/41266843/marjorie-taylor-greene-boosts-stock-portfolio-with-ai-exposure-buys-jpmorgan-and-this-hot-magnif">Marjorie Taylor Greene Boosts Stock Portfolio With AI Exposure, Buys JPMorgan And This Hot Magnificent 7 Stock: Here&#8217;re Congresswoman&#8217;s Latest Trades</a></li>
</ul>
Photo via Shutterstock

TLRY

Nasdaq, S&P 500 Futures Slip As September CPI Data Looms, Tesla On Radar Ahead Of Robotaxi Event: Strategist Offers Stock Tips Aligned With Presidential Candidates' Trade Policies

Wall Street surged on Wednesday as traders cheered a pullback in oil prices and the lack of escalation in the Middle East, particularly regarding potential <a href="https://www.benzinga.com/markets/asia/24/10/41257792/oil-dips-to-73-as-china-withholds-stimulus-biden-attempts-to-contain-netanyahu-over-israels-attack-o">Israeli retaliation against Iran. </a>
The broader market gains reflected optimism ahead of Thursday&#8217;s Consumer Price Index inflation report and the start of <a href="https://www.benzinga.com/markets/24/10/41249837/s-p-500-earnings-season-kicks-off-why-analysts-call-this-quarter-a-stock-pickers-paradise">third-quarter earnings season.</a>
<h3 class="wp-block-heading">S&amp;P 500 Sets New Record</h3>
The S&amp;P 500, as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), climbed 0.8% to a fresh record high, closing at 5,792 points, near its intraday peak. 
Blue-chip stocks also rallied, with the SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) ending the day at 42,512 points, up 1%, just shy of its all-time high of 42,628 reached in late September.
The tech-heavy Nasdaq 100, tracked by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), ended 0.8% higher, closing at 20,268 points, its highest level since July 2024. 
Small caps, as represented by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), inched up by 0.2%, underperforming versus large-cap counterparts. 
<h3 class="wp-block-heading">Fed Minutes Highlight Rate Cut Debate</h3>
Investors digested the minutes from the September Federal Open Market Committee (FOMC) meeting, which revealed extensive debate over whether to cut rates by 25 or 50 basis points.
Ultimately, the committee opted for the larger 50-basis-point cut, but the discussion underscored the ongoing uncertainty about the <a href="https://www.benzinga.com/markets/equities/24/10/41257938/fed-minutes-reveal-heated-debate-over-september-interest-rate-move-traders-trim-november-easing-">Federal Reserve's next moves.</a>
<h3 class="wp-block-heading">Sector Highlights: Tech Outperforms, Utilities Lags</h3>
<ul>
<li>The technology sector outperformed, rising 1.1%, while health care followed closely behind.</li>
<li>Utilities were the only sector to close in the red, down 0.9%.</li>
<li>Cruise lines were the notable industry gainers surged as lower fuel costs improved their outlook, while solar stocks and gold miners struggled under pressure from rising Treasury yields.</li>
</ul>
<h3 class="wp-block-heading">Top 5 Performers On The S&amp;P 500</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Name</th>
<th>Last</th>
<th>% Change</th>
</tr>
</thead>
<tbody>
<tr>
<td>Norwegian Cruise Line Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>)</td>
<td>23.06</td>
<td>10.86%</td>
</tr>
<tr>
<td>Carnival Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>)</td>
<td>20.20</td>
<td>7.02%</td>
</tr>
<tr>
<td>Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>)</td>
<td>193.01</td>
<td>5.25%</td>
</tr>
<tr>
<td>Corning Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>)</td>
<td>46.74</td>
<td>4.82%</td>
</tr>
<tr>
<td>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>)</td>
<td>47.28</td>
<td>4.26%</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">Worst 5 Performers On The S&amp;P 500</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Name</th>
<th>Last</th>
<th>% Change</th>
</tr>
</thead>
<tbody>
<tr>
<td>Constellation Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>)</td>
<td>262.24</td>
<td>-6.14%</td>
</tr>
<tr>
<td>NRG Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>)</td>
<td>88.54</td>
<td>-5.36%</td>
</tr>
<tr>
<td>The Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>)</td>
<td>149.43</td>
<td>-3.37%</td>
</tr>
<tr>
<td>Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>)</td>
<td>124.23</td>
<td>-2.91%</td>
</tr>
<tr>
<td>Western Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>)</td>
<td>64.47</td>
<td>-2.58%</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">Nasdaq 100&#8217;s Top 5 Gainers</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Name</th>
<th>Last</th>
<th>% Change</th>
</tr>
</thead>
<tbody>
<tr>
<td>MongoDB, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDB#NASDAQ">MDB</a>)</td>
<td>275.48</td>
<td>6.17%</td>
</tr>
<tr>
<td>Atlassian Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>)</td>
<td>177.06</td>
<td>5.38%</td>
</tr>
<tr>
<td>Zscaler, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZS#NASDAQ">ZS</a>)</td>
<td>185.93</td>
<td>5.09%</td>
</tr>
<tr>
<td>Super Micro Computer, Inc. </td>
<td>47.28</td>
<td>4.26%</td>
</tr>
<tr>
<td>Cadence Design Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>)</td>
<td>279.62</td>
<td>3.50%</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">Nasdaq 100&#8217;s Worst 5 Performers </h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Name</th>
<th>Last</th>
<th>% Change</th>
</tr>
</thead>
<tbody>
<tr>
<td>Constellation Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>)</td>
<td>262.24</td>
<td>-6.14%</td>
</tr>
<tr>
<td>PDD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>)</td>
<td>141.50</td>
<td>-2.32%</td>
</tr>
<tr>
<td>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)</td>
<td>163.09</td>
<td>-1.57%</td>
</tr>
<tr>
<td>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</td>
<td>241.06</td>
<td>-1.41%</td>
</tr>
<tr>
<td>Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>)</td>
<td>171.00</td>
<td>-1.04%</td>
</tr>
</tbody>
</table>
</figure>
Image created using artificial intelligence via MidJourney.

Commodities

CDNS

NCLH

Citigourp Global Markets 2% Protected Notes Linked To The Djia

SMCI

TEAM

Bulls Stampede On Wall Street: S&P 500 Smashes All-Time Highs, Dow Jones Marks Record Close, Nasdaq 100 Hits Mid-July Levels

The S&amp;P 500 climbed 0.5% during morning trading in New York, reaching a new all-time high by surpassing the 5,770 level, previously touched in late September.
The rally was fueled by a continued decline in oil prices, amid a lack of further escalation in the Middle East conflict and disappointing news regarding <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41227136/chinese-stocks-plunge-as-stimulus-hopes-fade-hong-kong-posts-worst-daily-decline-si">fiscal stimulus from China.</a>
Investors are now focusing on the Federal Reserve&#8217;s next moves, with the minutes from the September meeting set to be released at 2 p.m. ET on Wednesday.
Eight of the S&amp;P 500&#8217;s 11 sectors traded in positive territory, with utilities, materials and real estate being the only laggards. Technology and financials led the charge.
The Dow Jones Industrial Average mirrored the S&amp;P 500&#8217;s performance, now trading within 1% of its record high, while small caps outperformed. 
Oil prices, tracked by the United States Oil Fund LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), dropped another 1%, extending the sharp 5% selloff from Tuesday. The decline in crude prices provided relief to industries heavily reliant on fuel expenses, particularly airlines and cruise operators.
Cruise line stocks rallied as a result, with Norwegian Cruise Lines Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>), Carnival Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>), and Royal Caribbean Cruise Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>) soaring 9.7%, 6.7%, and 4.4%, respectively.
Treasury yields edged higher, with the 10-year yield rising by three basis points to 4.79%. Precious metals softened slightly, with gold eyeing its seventh consecutive session in the red.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) remained stable, hovering around $62,000.
<h1 class="wp-block-heading">Wednesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices </td>
<td>Price</td>
<td>1-day chg. %</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,211.55</td>
<td>0.8%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,332.26</td>
<td>0.6%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,781.58</td>
<td>0.5%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,193.47</td>
<td>0.4%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 11:26 a.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent100924&amp;t=be2bearmibe3na1">Benzinga Pro</a> data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;rose 0.5% to $575.81.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.7% to $423.58.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) inched 0.4% higher to $491.40.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rallied 0.7% to $219.17.</li>
<li>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 0.7%. The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) lagged, down 0.8%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) dropped 1.4% after the U.S. Department of Justice indicated on Tuesday it may seek a court order compelling the tech giant to divest key assets, including its Chrome browser and Android operating system. BMO Capital also lowered its price target for Alphabet from $222 to $215 per share.</li>
<li>Shares of Astera Labs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAB#NASDAQ">ALAB</a>) surged 16% to $61.31 after the company unveiled a new portfolio of fabric switches designed specifically for AI infrastructure at cloud scale. In addition, Morgan Stanley reaffirmed its Overweight rating on the stock and raised its price target from $55 to $74, citing the potential growth from the new product line.</li>
<li>Shares of utilities Constellation Energy Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>), Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>) and NRG Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>) tumbled 6.5%, 5.3% and 5%, respectively, marking the worst performers in the Russell 1000.</li>
<li>Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) rallied over 4%, eyeing its strongest day since May, after Starboard Value acquired a $1 billion stake. </li>
</ul>
Read Now:
<ul>
<li><a href="https://www.benzinga.com/markets/24/10/41251483/september-inflation-preview-consumer-price-data-holds-the-key-to-feds-next-interest-rate-move">September Inflation Preview: Consumer Price Data Holds The Key To Fed&#8217;s Next Interest Rate Move</a></li>
</ul>
Photo: Shutterstock

ALAB

S&P 500 Hits New All-Time High Ahead Of Fed Minutes As Lower Oil Prices Offer Relief: What's Driving Markets Wednesday?

Major indexes are higher following recent volatility, which has been driven by Middle East tensions and oil price fluctuations.

To gain an edge, this is what you need to know today.
<figure class="wp-block-image size-large is-resized"><img decoding="async" src="https://thearorareport.com/wp-content/uploads/2024/10/2024-10-09_09h31_42.png" alt="" style="width:624px" /></figure>
<h3 class="wp-block-heading">Google Breakup?</h3>
Please <a href="https://thearorareport.com/chart-analysis-stock-market-google-breakup-nvidia-ai-summit-goog-mc-10092024">click here</a> for an enlarged chart of Alphabet Inc Class C (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>).
Note the following:
<ul>
<li>This article is about the big picture, not an individual stock. The chart of GOOG stock is being used to illustrate the point.</li>
<li>One of the concerns about big tech is that big tech has profited from monopolistic practices, and as such, the government will move against big tech. So far, these concerns have been limited to smart money. The momo crowd has been oblivious and aggressively buying big tech, running the stocks up higher and higher.  The reason is that the momo crowd does not do much analysis. The momo crowd is driven by momentum and hopium.</li>
<li>The news is that the Department of Justice (DOJ), in a court filing, has put the breakup of Google on the table.&nbsp; Previously, the judge had ruled that Google is a monopolist and established its monopoly with illegal practices.</li>
<li>The chart shows that there has not been much of a reaction to the news.</li>
<li>The chart shows that previously there was some downward reaction to the news that a judge ordered Google to open the app store to competition.</li>
<li>Google faces a separate lawsuit threatening the breakup of its online advertising business.</li>
<li>The chart shows that volume was low on the threat of a breakup and also on the order to open the app store. This indicates that so far the stock market does not believe the news will harm Google. This is for two reasons:
<ul>
<li>There is flawed analysis in the market that the sum of the parts is more than the current stock price. In The Arora Report analysis, the reason that the belief in the stock market is wrong is because the parts as separate companies will be restricted from continuing illegal monopolistic practices.</li>
<li>The election is only a few weeks away. The belief in the stock market is that both Trump and Harris will be friendly to big tech.</li>
</ul>
</li>
<li>NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) stock has staged a strong move leading to and in response to its AI Summit. However, the resistance zone is around $140, only $6 away. If NVDA stock breaks above the resistance zone, it will be a big positive for the stock market, especially AI stocks. On the other hand, if this rally fails to break above the resistance zone, it will be a negative.</li>
<li>There are rumors of a potential ceasefire in Lebanon. Hezbollah has publicly endorsed ceasefire efforts. This is leading to selling in oil, gold, and Treasuries.</li>
<li>FOMC minutes will be released at 2pm ET.</li>
</ul>
<h3 class="wp-block-heading">China</h3>
Stocks in China experienced another sell-off. More stimulus news is expected on Saturday.
<h3 class="wp-block-heading">Magnificent Seven Money Flows</h3>
In the early trade, money flows are positive in Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and NVDA.
In the early trade, money flows are neutral in Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), and GOOG.
In the early trade, money flows are negative in Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).
In the early trade, money flows are mixed in SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>).
<h3 class="wp-block-heading">Momo Crowd And Smart Money In Stocks</h3>
Investors can gain an edge by knowing money flows in SPY and QQQ. Investors can get a bigger edge by knowing when smart money is buying stocks, gold, and oil. The most popular ETF for gold is SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>).  The most popular ETF for silver is iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>).  The most popular ETF for oil is United States Oil ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>).
<h3 class="wp-block-heading">Bitcoin</h3>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is range bound.
<h3 class="wp-block-heading">Protection Band And What To Do Now</h3>
It is important for investors to look ahead and not in the rearview mirror.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges. The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.  If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash. A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.  When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks. High beta stocks are the ones that move more than the market.
<h3 class="wp-block-heading">Traditional 60/40 Portfolio</h3>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less. Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter-benzinga">Generate Wealth Newsletter</a>.

Google Breakup On The Table, Nvidia AI Summit Moves The Stock But Resistance Ahead

Good Morning Traders! In today&#39;s Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA.
Our proprietary formula, exclusive to Market Clubhouse, dictates these price levels. This dynamic equation takes into account price, volume, and options flow. These levels are updated every day and shared with all Clubhouse Members, prior to the opening of the market.
We recommend closely monitoring these stocks, and be prepared to leverage potential breakouts or reversals. As always, stay alert and ready to adjust your tactics based on the market&#39;s pulse to optimize your trading gains. Now, let&#39;s dive into the stock analysis:
<h3>SPDR S&amp;P 500 ETF Trust </h3>
The SPY&nbsp;(ARCA: SPY) is currently trading near the 572.15 mark, with bulls aiming to drive the price higher toward 573.50. If buying pressure holds above 573.50, we expect a test of 574.65, which could act as a support level during regular trading hours. Should momentum continue favoring the bulls, the next upside target would be 575.67, with a potential extension to the high bull target for the day at 576.62.
On the downside, if SPY fails to maintain support at 572.15, we anticipate sellers pushing the price lower to test 571.06. A break below this level could see increased bearish momentum, targeting 569.98. If selling accelerates, the next significant support level to watch is 569.16, with a low bear target set at 567.81 for a more pronounced decline.
<h3>Invesco QQQ Trust Series 1</h3>
The QQQ (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>) is currently around the key level of 487.69, where bulls are looking for a move higher past 490.05. Sustained buying above this point could bring 491.82 into play, setting up 493.60 as the next target if the uptrend holds. A continuation of bullish activity may lead to a test of 495.35, with the high bull target set at 496.94 for the day.
If the price struggles to stay above 487.69, it could signal a shift towards bearish control, with a move down to 486.10 likely. Further selling pressure might result in a test of the 483.95 level, and if sellers remain dominant, 481.73 could be reached. Should this area fail to act as support, the Q&#39;s might see a move down to the low bear target at 479.03.
<h3>Apple Inc.</h3>
Apple&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) is trading near the 225.31 level, with bulls aiming to establish it as a support zone for a move up to 226.08. A breakout above this level could see prices targeting 226.90, with a rally toward 227.82 possible if buyers remain in control. This high bull target would likely be reached if Apple sees a continuation of the day&#39;s bullish sentiment.
Should the 225.31 level fail to hold, sellers may take over, potentially driving the price down to 223.87. If selling pressure increases, the 222.96 mark could come into play, and any breach below this level might push Apple lower to 222.24. A further breakdown could see the price hit the low bear target for the day at 221.66.
<h3>Microsoft Corp. </h3>
Microsoft&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) is currently trading near 416.32, with bulls aiming to defend this level as support. If successful, the price could rally to 417.25, setting the stage for a potential run to 419.17. Continued bullish activity might bring 420.26 into focus, which represents the high bull target for today&rsquo;s session.
Conversely, if 416.32 fails to hold during trading hours, a downward move to 414.56 could be expected. Additional selling could then test 413.14, with 411.72 acting as a critical level for further downside risk. Should bears gain momentum, the low bear target for Microsoft stands at 410.64.
<h3>NVIDIA Corporation</h3>
NVIDIA&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) is trading close to 134.56, with the bulls striving to push the price higher to 135.64. If this level is reclaimed as a support, the stock could see an upward move to 136.98. Continued bullish momentum might push the auction up to 137.94, with the high bull target set at 138.55 for today.
If NVIDIA struggles to hold above 134.56, we could see the bears testing the downside at 133.31. Failure to hold this level could open the door for a move to 132.19, and persistent selling pressure may drive the price further down to 131.42. The low bear target for the day is positioned at 129.53 if the downward trend accelerates.
<h3>Alphabet Inc Class A</h3>
Alphabet (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>)&nbsp;is currently trading near 163.79, where bulls are focused on holding this level as support for a move up to 165.41. If buying pressure remains strong, the stock may push toward 167.04, marking the high bull target for the day. Continued upside momentum will be necessary to sustain any further gains.
Should the price dip below 163.79, sellers might look to test the 161.79 level. A break lower could see the stock moving to 160.36, where significant support may be required to prevent further declines. If this support fails, the auction could target the low bear mark at 158.54.
<h3>Meta Platforms Inc</h3>
Meta&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) is trading around 591.29, with bulls eyeing a breakout above this level to reach 598.17. If this push higher materializes, further buying strength could see the price challenge 604.50, setting the stage for a test of 609.30, which stands as the high bull target.
In the event that Meta cannot sustain support at 591.29, bears may drive the price down to 585.73. Continued selling could then target 580.17, and should this level give way, a move to 573.25, the low bear target, could unfold as sellers tighten their grip.
<h3>Tesla Inc.</h3>
Tesla&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) is near the key level of 243.98, where the bulls will aim for a rally up to 246.16. If the price stays supported at this level, 248.37 could be the next target, with a potential extension to 250.25 if bullish momentum continues. The high bull target on the day for Tesla stands at 252.38.
Should 243.98 fail to hold, we could see a move lower to 242.49. If selling pressure persists, the price may test 239.92, and any further weakness could bring Tesla down to the low bear target of 238.50.
Final Word:Today&#39;s trading session brings several important events that could influence market activity. At 10:00 AM ET, the Final Wholesale Inventories data for August will be released, offering insights into supply chain dynamics and economic health. The Treasury will hold a 10-year note auction at 1:00 PM ET, potentially affecting bond yields and equity markets.&nbsp;
The FOMC Meeting Minutes at 2:00 PM ET are highly anticipated, providing details about the Fed&#39;s policy discussions in September, which may give clues on future rate moves. Throughout the day, we will hear from several Federal Reserve speakers: Bostic at 8:00 AM ET, Logan at 9:15 AM ET, Goolsbee at 10:30 AM ET, Barkin at 12:15 PM ET, followed by Collins and Daly after the market closes. Expect increased volatility as traders react to the various Fed remarks and the FOMC minutes. Stay alert, manage risk carefully, and trade wisely!
The Morning Memo is curated by RIPS, a pro trader with years of experience in equities, options, and futures trading. RIPS is at the heart of the exclusive Market Clubhouse community, offering his insights, expertise, and real-time mentorship.
Start your day with a live daily market analysis, a carefully selected watch list, early access to the Morning Memo, and exclusive Market Clubhouse price levels, providing precise support and resistance indicators. When you become a member of Market Clubhouse, you will gain early access to the Morning Memo, just like this one, every single day&mdash;hours before it&#39;s published. You will also have access to a live stream with zero latency and screen sharing, enabling you to witness Rips executing his trades in real-time and sharing his exclusive trading plans, strategies, and live decision-making.
For a limited time during our special promotion, you can join RIPS and get a full access pass to Market Clubhouse for 7 full days for just $7. Check it out at <a href="https://marketclubhouse.club/7Days/" title="https://marketclubhouse.club/7Days/">https://marketclubhouse.club/7Days/</a> where you can trade live with him and tap into his wealth of knowledge and experience. You can also catch Rips on his live day trading streams every Monday-Friday at 8 am EST on the Market Clubhouse YouTube channel: <a href="https://www.youtube.com/@MarketClubhouse" title="https://www.youtube.com/@MarketClubhouse">https://www.youtube.com/@MarketClubhouse</a>.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Market Clubhouse Morning Memo - October 9th, 2024 (Trade Strategy For SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META And TSLA)

See-sawing mood persists on Wall Street as the index futures point to a marginally lower start on Wednesday after the tech-led rebound witnessed in the previous session. Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is advancing in premarket and the rest of the big techs were just about higher. Commodities are weakening and bond yields are easing. Federal Reserve&#8217;s September rate-setting meeting minutes, speeches by Fed officials and developments around Hurricane Milton&#8217;s landfall in Florida could be on traders&#8217; radar.
Some may choose to move to the sidelines ahead of Thursday&#8217;s consumer price inflation report which is expected to show a further easing in pricing pressure. Some key earnings reports are also expected to drop over the next two sessions, which is likely to give early indications regarding how this reporting season will pan out.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.08%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.06%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.07%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.13%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Wednesday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) edged down 0.04% to $572.93 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) moved down 0.209% to $488.85, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
IT, communication services and consumer discretionary stocks fueled a strong rally on Wall Street on Tuesday even as energy stocks served as drags. The gains came despite the threat of Hurricane Milton looming large. Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) rose over 4% after contracts electronics manufacturer Hon Hai Precision Manufacturing Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HNHPF#OTC">HNHPF</a>) issued positive commentary about the demand for the former&#8217;s Blackwell GB200 chips. The positive sentiment rubbed off on other AI-levered tech stocks as well.
The Nasdaq Composite and the S&amp;P 500 hovered in positive territory throughout the session, while the Dow Jones Industrial Average experienced volatility before closing modestly higher. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+1.45%</td>
<td>18,182.92</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.97%</td>
<td>5,751.13</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.30%</td>
<td>42,080.37</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.09%</td>
<td>2,194.98</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
The current bull market started on Oct. 12, 2022, and as its second anniversary nears, a strategist suggested there be could many more years of gains. Carson Group&#8217;s Chief Markey Strategist Ryan Detrick said the S&amp;P 500 Index is up 61% so far in this bull market. On average, a bull market lasts about 5.5 years and the average gain clocked is 181%.
The strategist said the bull market may not end soon. Sharing a graphic showing performances of the index during the previous bull markets, he said, &#8220;Many more years of gains would be perfectly normal.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The bull market is about to turn two. Stocks are up 61% during this bull market, compared with the avg bull market lasting 5.5 years and gaining 181%. Yes, it &#39;could&#39; end soon, but we don&#39;t think it will. In fact, this shows many more years of gains would be perfectly normal. <a href="https://t.co/sbPROOIrTg">pic.twitter.com/sbPROOIrTg</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1843649022126690442?ref_src=twsrc%5Etfw">October 8, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Upcoming Economic Data:
<ul>
<li>The Fed speakers lined up for the day include:
<ul>
<li>Atlanta Fed President Raphael&nbsp;Bostic: 8 a.m. EDT, 12:45 p.m. EDT</li>
<li>Dallas Fed President Lorie&nbsp;Logan: 9:15 a.m. EDT</li>
<li>Chicago Fed President Austan Goolsbee: 10:30 a.m. EDT</li>
<li>Federal Reserve Vice Chair Philip Jefferson: 12:30 p.m. EDT</li>
<li>Boston Fed President Susan Collins: 5 p.m. EDT</li>
<li>San Francisco Fed President Mary&nbsp;Daly: 6 p.m. EDT</li>
</ul>
</li>
<li>The Commerce Department is due to release wholesale inventories report for August at 10 a.m. EDT. Economists, on average, expect wholesale inventories to rise 0.2% month-over-month, the same pace as in July.</li>
<li>The Energy Information Administration is scheduled to release its customary weekly petroleum status report at 10:30 a.m. EDT.</li>
<li>The Treasury is set to auction 10-year notes at 1 p.m. EDT.</li>
<li>The Federal Open Market Committee will release the minutes of its September rate-setting meeting at 2 p.m. EDT.</li>
</ul>
Stocks In Focus:
<ul>
<li>Helen of Troy Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HELE#NASDAQ">HELE</a>) is due to report its quarterly results before the market opens, while Applied Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLD#NASDAQ">APLD</a>) and AZZ Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZZ#NYSE">AZZ</a>) will announce their results after the market close.</li>
<li>Astera Labs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAB#NASDAQ">ALAB</a>) climbed over 7% after the company announced a new portfolio of fabric switches meant for demanding AI workloads in accelerated computing platforms deployed at cloud-scale.&nbsp;</li>
<li>Affirm Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) rose over 3% on a positive analyst action.</li>
<li>Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) slipped over 1% after the company said talks with union members weren&#8217;t going smoothly. Following the strike, S&amp;P placed  Boeing&#8217;s rating on CreditWatch as negative.</li>
<li>Australian miner Arcadium Lithium plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALTM#NYSE">ALTM</a>) soared more than 30% after the company announced an agreement to be acquired by Rio Tinto Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>).</li>
</ul>
Commodities, Bonds And Global Equity Markets:
 Crude oil futures traded modestly lower following Tuesday&#8217;s sharp retreat and gold futures were little changed. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was down less than a percent at a little over $62K. The yield on the benchmark 10-year Treasury note was down 1.9 points to 4.016%.
The Asian stocks had another mixed outing on Wednesday, with China&#8217;s Shanghai Composite slumping 6.62% and Hong Kong&#8217;s Hang Seng Index falling 1.38%. The lack of any further announcements concerning additional stimulus weighed down on these two markets. On the other hand, the Japanese market advanced. The South Korean market was closed for a public holiday.
The European markets were firmer in early trading on Wednesday. 
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/10/41245350/nvidia-poised-to-overtake-apple-as-worlds-most-valuable-company-how-much-jensen-huangs-company-n">Nvidia Poised To Overtake Apple As World&#8217;s Most Valuable Company: How Much Jensen Huang&#8217;s Company Needs To Gain By Wednesday</a></li>
</ul>
Photo via Shutterstock

ALTM

APLD

HELE

US Stocks Set To Open Marginally Lower, Nvidia Gains, Traders Eye Fed Minutes: Strategist Predicts Many More Years Of Gains Ahead Of Bull Market's 2nd Anniversary

After starting the week with a negative session, U.S. markets rebounded on Tuesday, driven by falling oil prices, which helped alleviate concerns about a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41234471/september-inflation-preview-traders-brace-for-market-jitters-as-crucial-report-loom">potential resurgence in inflation.</a>
Crude oil dropped as much as 5% on the day, weighed down by China&#8217;s lack of additional fiscal stimulus and a de-escalation in geopolitical tensions between Israel and Iran.
At the same time, Treasury yields paused their recent climb, offering further relief to investors.
Optimism surrounding the upcoming earnings season also buoyed traders, leading to renewed buying in tech stocks and key AI-linked companies. The S&amp;P 500 gained 0.8%, the Nasdaq 100 rallied 1.3% on the back of semiconductor strength, while the Russell 2000 posted a more modest 0.4% rise.
The Magnificent Seven stocks—Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Amazon Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)—were all in the green, collectively adding around $250 billion in market capitalization and inching closer to a combined market value of $16 trillion.
Meanwhile, the CBOE Volatility Index (VIX), often referred to as Wall Street&#8217;s &#8220;fear gauge,&#8221; fell 6%, reversing a sharp 17% spike from Monday.
Commodity markets weren&#8217;t spared from the broader Chinese-led sell-off, with metal prices taking a hit. Gold dropped 1.2%, while silver plunged over 4%, both reacting to China&#8217;s underwhelming stimulus news.
In the crypto space, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose 0.5%, trading at $62,479.
<h3 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,051.16</td>
<td>1.3%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,742.69</td>
<td>0.8%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,201.50</td>
<td>0.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,017.06</td>
<td>0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:50 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent100824&amp;t=be2bearmibe3na1">Benzinga Pro</a> data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;edged 0.7% higher to $571.68.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;inched 0.1% up to $420.10.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 1.2% to $487.35.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.3% to $218.07.</li>
<li>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 1.6%. The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) lagged, down 2.9%.</li>
</ul>
<h3 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h3>
<ul>
<li>Palo Alto Networks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>) rallied 5% after Goldman Sachs raised its price target from $376 to $425.</li>
<li>Lower oil prices triggered rallies in cruise lines and airlines. Carnival Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) rose 4.5%, Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) gained 3.8%, American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) climbed 3.7%, and Delta Air Lines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) added 2.8%.</li>
<li>The energy and materials stocks that fell the most on Tuesday included Marathon Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>), down 7.8%, Freeport McMoRan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>), down 5.2%, and Valero Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLO#NYSE">VLO</a>), down 4.9%.</li>
<li>Docusign Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOCU#NYSE">DOCU</a>) rallied 8.3% after it was announced that it would join the S&amp;P MidCap 400.</li>
<li>PepsiCo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) rose 0.6% in reaction to its quarterly earnings. </li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/10/41225048/pepsico-adjusts-2024-revenue-expectations-after-mixed-q3-performance-and-global-challenges">PepsiCo Adjusts 2024 Revenue Expectations After Mixed Q3 Performance And Global Challenges</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

New ETFs

DOCU

PANW

Stocks Rally As Oil Prices Tumble; Tech, Chipmakers Lead As Traders Focus On AI Winners Before Earnings Season: What's Driving Markets Tuesday?

Major indexes are higher, rebounding from Monday's drop as oil prices pull back and as yields fall from earlier levels.

To gain an edge, this is what you need to know today.
<figure class="wp-block-image size-large is-resized"><img decoding="async" src="https://thearorareport.com/wp-content/uploads/2024/10/2024-10-08_08h03_18.png" alt="" style="width:624px" /></figure>
<h3 class="wp-block-heading">Biggest Stock Moves Ahead</h3>
Please <a href="https://thearorareport.com/chart-analysis-stock-market-rising-yields-neutral-rate-tlt-mc-10082024">click here</a> for an enlarged chart of iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>).
Note the following:
<ul>
<li>TLT moves inverse to the yield. The higher the yield goes, the lower TLT falls.</li>
<li>The chart shows the move up in TLT in anticipation of Fed rate cuts.</li>
<li>The chart shows a breakout above the resistance zone.</li>
<li>The chart shows when the Fed cut rates.</li>
<li>The chart shows that the spot on Arora call was made on the same day that the Fed cut interest rates. The Arora call was made in advance of the Fed announcement, giving investors more time to act. The Arora call was that yields were likely to rise on long bonds, sending TLT lower. The Arora call was a contrary call squarely going against the prevailing wisdom at that time. At that time, the following described the landscape.
<ul>
<li>Technically oriented investors were buying TLT because of the technical breakout.</li>
<li>Macro investors were buying TLT because of the rate cut. Going into the Fed meeting the consensus was still a 25 bps cut, even though the idea of a 50 basis point rate cut was gaining steam.</li>
<li>The prevailing wisdom in the market was that TLT would go up.</li>
</ul>
</li>
<li>The chart shows that the breakout failed, and TLT has experienced a significant drop since the Arora call.</li>
<li>The chart shows that TLT is now getting closer to the top support zone.</li>
<li>The down move in TLT is remarkable because during this time, the money has been flowing into the safety of long Treasury bonds due to escalating conflict in the Middle East. In The Arora Report analysis, if it was not for the Middle East conflict escalation, TLT would have already fallen into the top support zone.</li>
<li>RSI on the chart shows that TLT is oversold. An oversold ETF often bounces.</li>
<li>In The Arora Report analysis, unless the economic data changes or a war breaks out, or the Fed changes its course, any rally in TLT has a 70% probability of failing. The reason behind this prediction is that irrespective of who is elected, Trump or Harris, the government's borrowing and spending is going to go up. Higher borrowing means a larger supply of Treasuries.  A larger supply of Treasuries indicates a higher yield on long bonds. If the U.S. has a divided government after the election, the borrowing will be less than it will be if either party sweeps. In the event of a one party sweep, TLT can potentially fall to the bottom support zone.</li>
<li>Investors should also pay attention to the10 year Treasury yield.  The 10 year Treasury yield is important because it is the reference rate for computing appropriate PE ratios in most models. In general, the rule is higher interest rates mean lower PE ratios. There are two reasons for this:
<ul>
<li>When interest rates are higher, the value of future earnings discounted to present is lower.</li>
<li>When bonds start paying higher interest rates, they offer more competition to stocks.</li>
</ul>
</li>
<li>The yield on 10 year Treasuries has risen from 3.68% on the day the Fed cut the interest rate to 4.031% as of this writing.</li>
<li>Contrary to expectations in the market, mortgage rates have also risen since the Fed rate cut.</li>
<li>Investors should also pay close attention to the neutral rate. The neutral rate is the Fed funds rate that is neither restrictive or expansionary.
<ul>
<li>In addition to the neutral rate, investors should also pay attention to the pace at which interest rates come down to the neutral rate.</li>
<li>The Fed is indicating that the neutral rate might be around 3.4% in 2025. Previously, the Fed was pointing to a long run neutral rate of 2.5%.</li>
<li>The prevailing wisdom in the market is that the neutral rate is in the range of 2.5% &#8211; 3.5%.</li>
</ul>
</li>
<li>Regarding the neutral rate, The Arora Report has another contrary call. Unless economic data substantially changes or geopolitical conditions substantially change, the likely neutral rate is higher than the market consensus. In The Arora Report analysis, the likely neutral rate is 3.25 &#8211; 4.25%. </li>
<li>The foregoing discussion on the long bond rate, 10 year rate, and neutral rate is very important because in view of The Arora Report analysis and contrary calls, earnings will have to be very robust for the stock market to advance from here and sustain at a higher level.</li>
<li>In The Arora Report analysis, implied volatility of options on popular individual stocks around earnings indicates that the biggest moves after earnings in recent years in individual stocks are ahead. This has two practical implications for investors:
<ul>
<li>This will provide more opportunities for prudent investors who are set up to systematically take advantage of volatility in a proven way instead of being afraid of volatility.</li>
<li>Some of the existing positions in portfolios may be hit hard. To balance it with stocks that move up significantly, it is important to make sure the portfolio is properly diversified.</li>
</ul>
</li>
<li>In The Arora Report analysis, prior to the jobs report, the probability of a 50 bps cut after the next Fed meeting was about 30%. Now, the probability has dropped to 5%.</li>
<li>Based on The Arora Report proprietary sentiment indicator, sentiment in the stock market is very positive.&nbsp; S&amp;P 500 at 6000 is the magnet for traders.&nbsp;&nbsp;</li>
<li>Based on The Arora Report's proprietary methodology, numerous short squeezes are taking place, adding to the upside moves in individual stocks.</li>
<li>There is renewed excitement in AI stocks. The main reason is that NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) AI Summit is taking place.</li>
<li>There is also buying ahead of Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) analyst meeting about AI on October 10.&nbsp; Hewlett Packard Enterprise Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) will also highlight its progress on AI during its analyst day on October 10.</li>
<li>Adding to excitement in the stock market is the upcoming Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) robotaxi event on October 10.</li>
<li>Consumer Price Index (CPI) will be released on October 10. Headline CPI consensus is 0.1%.  Core CPI consensus is 0.2%.</li>
<li>Hurricane Milton is barreling towards Florida.&nbsp; Insurance stocks such as Universal Insurance Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UVE#NYSE">UVE</a>), Heritage Insurance Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRTG#NYSE">HRTG</a>), and HCI Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HCI#NYSE">HCI</a>) are seeing selling pressure.&nbsp; Generator manufacturer Generac Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNRC#NYSE">GNRC</a>) is seeing buying pressure, so are roofing stocks such as Beacon Roofing Supply Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BECN#NASDAQ">BECN</a>) and Owens Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OC#NYSE">OC</a>).</li>
<li>Volatility index (VIX) continues to stay high on anxiety about the Middle East. VIX is elevated at 22 as of this writing.</li>
<li>As an actionable item, the sum total of the foregoing is in the protection band, which strikes the optimum balance between various crosscurrents. &nbsp; Please scroll down to see the protection band. The protection band is one of the large number of unique edges that are available to members of The Arora Report.</li>
</ul>
<h3 class="wp-block-heading">China Disappoints</h3>
We have been sharing with you day by day the epic rally in Chinese stocks and the reasons behind it. Today, at the beginning, hopes were high as Mainland China investors returned after a one week holiday.  Mainland benchmark stock index CSI 300 jumped 11% at the open but subsequently lost some of the gains, finishing up 5.9%.  In spite of the pullback, CSI 300 is up about 30% over the last month.
In Hong Kong, Hang Seng lost 9.41%. This is the biggest drop since the 2008 financial crisis. Stocks in Hong Kong were trading during the mainland holiday. The reason for the disappointment is that investors were counting on the National Development and Reform Commission (NDRC) to offer concrete stimulus measures at a briefing. However, the chair of NDRC Zheng Shanjie did not offer new concrete stimulus steps. This disappointed traders.
As full disclosure, for those who understand the China risk, The Arora Report&#8217;s plan continues to be to buy Mainland China ETF Xtrackers Hvst CSI 300 China A Shs ETF Class A (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASHR#NYSE">ASHR</a>) and Hong Kong ETF iShares China Large-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXI#NYSE">FXI</a>) when they fall in the recently updated buy zones in The Arora Report&#8217;s ZYX Emerging.
<h3 class="wp-block-heading">Magnificent Seven Money Flows</h3>
In the early trade, money flows are positive in Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Alphabet Inc Class C (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), NVDA, and TSLA.
In the early trade, money flows are neutral in Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>).
In the early trade, money flows are positive in SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>).
<h3 class="wp-block-heading">Momo Crowd And Smart Money In Stocks</h3>
Investors can gain an edge by knowing money flows in SPY and QQQ.  Investors can get a bigger edge by knowing when smart money is buying stocks, gold, and oil.  The most popular ETF for gold is SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>).  The most popular ETF for silver is iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>).  The most popular ETF for oil is United States Oil ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>).
<h3 class="wp-block-heading">Bitcoin</h3>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is range bound.
<h3 class="wp-block-heading">Protection Band And What To Do Now</h3>
It is important for investors to look ahead and not in the rearview mirror.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges. The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.  If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash. A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp; When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp; High beta stocks are the ones that move more than the market.
<h3 class="wp-block-heading">Traditional 60/40 Portfolio</h3>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less.&nbsp; Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter-benzinga">Generate Wealth Newsletter</a>.

ASHR

BECN

GNRC

HRTG

iShares Trust Barclays 20+ Year Treasury Bond Fund

Rising Yields And Higher Neutral Rate May Spoil The Party, Biggest Stock Moves In Years Ahead

Good Morning Traders! In today&#39;s Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA.
Our proprietary formula, exclusive to Market Clubhouse, dictates these price levels. This dynamic equation takes into account price, volume, and options flow. These levels are updated every day and shared with all Clubhouse Members, prior to the opening of the market.
We recommend closely monitoring these stocks, and be prepared to leverage potential breakouts or reversals. As always, stay alert and ready to adjust your tactics based on the market&#39;s pulse to optimize your trading gains. Now, let&#39;s dive into the stock analysis:
<h3>SPDR S&amp;P 500 ETF Trust</h3>
The SPY&nbsp;(ARCA: SPY) is currently trading near the 569.98 level. For the bullish side, we are watching for a move toward 571.06, where buyers could start to gain momentum. If the price holds above this point, we anticipate the action could drive up to 572.15. A sustained push beyond that would open up the possibility of reaching the 573.50 area. The final upside target for SPY today is set at 574.65, providing a key level for the bulls to aim for.
On the downside, if 569.98 fails to act as a support, we expect sellers to challenge 569.16. A failure to hold at this level could lead to further pressure, with the next key level at 567.81. Below that, strong selling could bring SPY down to 566.46, with our low bear target for the day being 565.38 in case of heavy bearish momentum.
<h3>Invesco QQQ Trust Series 1</h3>
The Q&#39;s&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>) are currently hovering around 483.95, a key area for bulls. Should this level hold, a potential rise toward 486.10 is on the cards. If buying momentum picks up, it could trigger a test of 487.69. Should the bulls maintain control throughout the session, the price might rally to 490.05, with a high target for today at 491.82.
On the other hand, if 483.95 doesn&#39;t hold during regular trading hours, bears will likely aim for a move down to 481.73. A further breakdown could target 479.03. If sellers are aggressive, we might see price action push toward 476.85, with a final bearish target for the day sitting at 474.66.
<h3>Apple Inc.</h3>
Apple&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) is trading near the 222.96 level. If the bulls manage to maintain support here, they could push the price higher toward 223.87. Continued strength in the price action may see a rally up to 225.31, with the bulls targeting a potential upside level of 226.08 for the session, representing the high bull target for the day.
However, if 222.96 cannot be held as support, we&#39;re watching for a test lower to 222.24. If the selling pressure persists, a further decline could target 221.66. In a bearish scenario, the final downside level we&#39;re watching for Apple today is 220.29, which marks the low bear target.
<h3>Microsoft Corp. </h3>
Microsoft&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) is currently hovering around the 407.11 level. Should this price hold, we expect buyers to push toward 408.46, which could serve as a solid support level. A further rise from there could lead to a rally toward 409.69, with continued buying strength aiming for the high bull target of 410.64.
If 407.11 doesn&#39;t hold during regular trading hours, the bears could step in and drive prices lower to 406.01. Breaking below this point might bring further downside pressure toward 404.92. If the sellers dominate, we&#39;re watching for a potential drop to the low bear target at 401.39 for the session.
<h3>NVIDIA Corporation</h3>
NVIDIA&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) is trading around the key level of 129.53. If the bulls maintain support here, we&#39;re looking for a move up to 131.42. Continued buying pressure could push the price to 132.19, with a strong rally potentially reaching the 133.31 mark. If momentum holds, the high bull target for NVIDIA today sits at 134.56.
Should 129.53 fail to hold, we expect sellers to target 128.10. A further breakdown could see the price fall to 126.84. In a more aggressive sell-off, the bears could push the auction down to 125.21, with the low bear target at 123.41.
<h3>Alphabet Inc Class A</h3>
Alphabet&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) is currently trading near 163.79. Bulls will want to see this level hold as support, with an expected rise toward 165.41 if buyers take control. A continued upward push could see the auction approach 167.04, which marks the high bull target for the session.
If 163.79 cannot hold, we&#39;re looking for the bears to step in and bring the price down to 161.79. Should selling continue, the next target would be 160.36. If the auction remains weak, the final low bear target for Alphabet is 158.54.
<h3>Meta Platforms Inc</h3>
Meta&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) is auctioning around 591.29. Bulls need to see this level hold as a firm support to push the price higher to 598.17. Continued strength could drive Meta up to 604.50, with an ambitious rally possibly reaching the high bull target at 609.30 for the day.
Should 591.29 fail as support, we&#39;re looking for a downside move to 585.73. If the sellers maintain pressure, the next test would be 580.17. In a bearish scenario, Meta could hit the low bear target at 573.25, completing a significant downward move.
<h3>Tesla Inc.</h3>
Tesla&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) is trading close to the 242.49 level. If the bulls can maintain this as support, we expect a push toward 243.98. A sustained rally could see Tesla test 246.16, with the price potentially reaching the high bull target of 250.25 if buying pressure continues.
If 242.49 breaks down during regular trading hours, we expect a move lower to 239.92. A further decline could bring 238.50 into play, and if this key support is lost, the low bear target for the day is set at 235.74.
Final Word: Today&#39;s trading session is relatively light on economic data, offering fewer catalysts for dramatic moves. At 10 AM ET, the market will receive the October RCM/TIPP Economic Optimism Index, providing insight into consumer confidence. Later, at 1 PM ET, the U.S. Treasury will hold a 3-Year Note Auction, an event that could offer clues on investor sentiment toward longer-term yields. At 12:45 PM ET, Federal Reserve voting member Raphael Bostic will speak, potentially signaling any changes in the Fed&#39;s outlook, followed by non-voting member Susan Collins at 4 PM ET.&nbsp;
Although these events carry some weight, the absence of major market-moving data today means traders should closely monitor price action and volume for signs of shifts in momentum. With a quieter day on the data front, expect more technical-driven moves, making it essential to stay nimble and attentive to market shifts. Stay safe and good luck!
The Morning Memo is curated by RIPS, a pro trader with years of experience in equities, options, and futures trading. RIPS is at the heart of the exclusive Market Clubhouse community, offering his insights, expertise, and real-time mentorship.
Start your day with a live daily market analysis, a carefully selected watch list, early access to the Morning Memo, and exclusive Market Clubhouse price levels, providing precise support and resistance indicators. When you become a member of Market Clubhouse, you will gain early access to the Morning Memo, just like this one, every single day&mdash;hours before it&#39;s published. You will also have access to a live stream with zero latency and screen sharing, enabling you to witness Rips executing his trades in real-time and sharing his exclusive trading plans, strategies, and live decision-making.
For a limited time during our special promotion, you can join RIPS and get a full access pass to Market Clubhouse for 7 full days for just $7. Check it out at <a href="https://marketclubhouse.club/7Days/" title="https://marketclubhouse.club/7Days/">https://marketclubhouse.club/7Days/</a> where you can trade live with him and tap into his wealth of knowledge and experience. You can also catch Rips on his live day trading streams every Monday-Friday at 8 am EST on the Market Clubhouse YouTube channel: <a href="https://www.youtube.com/@MarketClubhouse" title="https://www.youtube.com/@MarketClubhouse">https://www.youtube.com/@MarketClubhouse</a>.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

Market Clubhouse Morning Memo - October 8th, 2024 (Trade Strategy For SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META And TSLA)

In January, Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) chief Jensen Huang will deliver a keynote at <a target="_blank" href="https://www.prnewswire.com/in/news-releases/nvidia-ceo-jensen-huang-to-deliver-ces-2025-keynote-302268864.html" rel="noreferrer noopener">Consumer Electronics Show 2025</a>. The tech event will occur in&nbsp;Las Vegas&nbsp;from&nbsp;January 7-10, 2025.
The event coincided with rumors of next-gen Nvidia GPUs appearing in 2025, the Verge <a target="_blank" href="https://www.theverge.com/2024/10/7/24264418/nvidia-ces-2025-keynote-rtx-5090-rumors" rel="noreferrer noopener">reports</a>.
Nvidia could divulge an update about its RTX 50 series at CES, including its desktop GPUs based on the Blackwell architecture.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/10/41211823/whats-going-on-with-super-micro-computer-stock-on-monday" rel="noreferrer noopener">What&#8217;s Going On With Super Micro Computer Stock On Monday?</a>
Recently, Huang snubbed Wall Street concerns by&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/10/41183612/nvidias-top-brass-unloaded-significant-stock-in-2024-amid-ai-spending-and-chip-delays" rel="noreferrer noopener">indicating massive demand</a> for Nvidia&#8217;s Blackwell&nbsp;GPU.
JPMorgan analyst Harlan Sur&nbsp;flagged that the Blackwell GPU platform <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41149666/nvidias-blackwell-gpu-sets-new-ai-benchmark-with-over-100-system-configurations-ana" rel="noreferrer noopener">can support over</a> 100 different system configurations, compared to the 19-20 options available with the prior generation Hopper GPU platform. According to Sur, Nvidia&#8217;s AI and accelerated compute moat will likely help it sustain growth into 2025 and beyond.
Per the rumors, Nvidia may announce the RTX 5090 and RTX 5080 simultaneously.
<a target="_blank" href="https://www.benzinga.com/news/24/01/36596609/nvidia-leads-ai-chip-rivalry-with-new-gpus-while-amd-and-intel-bet-big-on-ai-pcs" rel="noreferrer noopener">At CES 2024</a>, Nvidia showcased three new GPUs—the RTX 4060 Super, RTX 4070 Ti Super, and RTX 4080 Super for AI-ready laptops.
Meanwhile, Advanced Micro Devices, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) and Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) voiced their conviction on AI personal computers (PCs) at the event, which contrasted with Nvidia&#8217;s focus on server-based AI.
Nvidia stock is up over 182% in the last 12 months. Investors can gain exposure to the stock through Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), and Vanguard Total Stock Market ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTI#NYSE">VTI</a>).
Price Action: NVDA stock is trading higher by 1.82% at $130.01 premarket at the last check on Tuesday.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/government/24/10/41204521/nvidias-gpu-sales-at-risk-as-china-pushes-local-ai-chips-in-retaliation" target="_blank" rel="noreferrer noopener">Nvidia&#8217;s GPU Sales at Risk As China Pushes Local AI Chips in Retaliation</a></li>
</ul>
Photo courtesy of Nvidia

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