Stock Market Today: October 14th - 18th, 2024

Morning Lineup -- 10/16/24
Wed, Oct 16, 2024

The S&P 500 saw a downside intraday reversal yesterday after European chip-equipment manufacturer ASML reported weaker than expected numbers. As shown below, SPY is currently trading well above its 50-day moving average and is about $16 above key support. We'll be treating any downside move as simple mean reversion until the point at which support at the $563.5 level breaks.



The semiconductor ETF (SMH) fell more than 5% yesterday on the ASML news, resulting in a large red bar on the ETF's chart. Remember that even though the broad market has been chugging along making new high after new high recently, the semis -- the Transports of the 21st century -- have yet to do so.

 

Here is a final look at today's market and futures maps, as well as how each sector performed individually at the close on Wednesday, October 16th, 2024.

 

Top of the morning StockBoarders! Happy Thursday to all of you and welcome to the new trading day and a frrrrrrrrrrrresh start. Here is a quick check on those futures as we are over 2 hours into the US cash market open.

GLTA on this Thursday, October the 17th, 2024!

 

Here are today's gappers up & down:

 

Here are today's economic calendar events:

 

Here are today's analyst stock upgrades & downgrades:

 

Here are this morning's pre-market earnings results:

 

Morning Lineup -- 10/17/24 -- TSM Rights the Ship
Thu, Oct 17, 2024

Retail sales, jobless claims, and the Philly Fed report all came in better than expected a few minutes ago at 8:30 AM ET, and we'll have more coverage of these indicators later today.

After major chip-equipment manufacturer ASML spooked the Tech world earlier this week with a weaker than expected earnings report, Taiwan Semi (TSM) has helped to right the ship this morning with an earnings triple play (beat EPS, beat sales, raised guidance). The stock is reacting to the news extremely positively in pre-market trading. Shares are currently set to open higher by 9.1%, which would mark a new all-time high for the stock. As shown below, a 9.1% gap higher for TSM this morning would also be its most positive open following an earnings report since at least 2012.



Small-cap indices have been charging higher over the last week with the Russell 2,000 (IWM) up nearly 4% and the Micro-Cap ETF (IWC) up 6%. As shown below, small-cap index ETFs are currently the most overbought, then mid-caps, then large-caps. The Nasdaq 100 ETF (QQQ) is actually down over the last week, but its price is still slightly overbought.

 

Here is a final look at today's market and futures maps, as well as how each sector performed individually at the close on Thursday, October 17th, 2024.

 

Top of the morning StockBoarders! Happy Friday to all of you and welcome to the final trading day of the week and a frrrrrrrrrrrresh start. Here is a quick check on those futures as we are over 2 hours into the US cash market open.

GLTA on this Friday, October the 18th, 2024!

 

Here are today's gappers up & down:

 

Here are today's economic calendar events:

 

Here are today's analyst stock upgrades & downgrades:

 

Here are this morning's pre-market earnings results: