*Performance since 7/1/2022. For more details on the performance calculation and methodology of Alpha Picks, click here. |
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*Performance since 7/1/2022. For more details on the performance calculation and methodology of Alpha Picks, click here. |
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► Global stock markets experienced mixed movements this week, with the Nasdaq climbing to an all-time high amid Big Tech earnings announcements and days away from the U.S. Presidential election. |
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► Alphabet's Q3 2024 earnings crushed estimates, showcasing earnings per share of $2.12, a 37% increase from the previous year, a key driver of the tech sector's performance this week.
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► Core PCE met economists' expectations with the Fed likely to remain on track to cut rates next week; the September jobs report was mixed.
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► U.S. mortgage rates jumped for 5th consecutive week, with 30-year reaching 6.72%. Homebuilder D.R. Horton reported earlier than anticipated, reflecting FQ4 2024 outcomes that disappointed investors. |
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► Treasury yields fluctuated, with the 10-year rising as high as 4.35% following stronger-than-expected economic data from the U.S. job market, signaling continued economic resilience. |
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► Tariff disputes between the EU and China escalated with increased tariffs on electric vehicles from China, impacting automakers and contributing to geopolitical trade tensions.
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Alpha Picks is a rigorous, data-driven model that offers Strong Buy-rated stocks believed to have the highest probability of capital appreciation based on a proprietary quantitative model. Two 'Strong Buy' rated stocks are selected monthly on the first trading day of the month and the 15th or the closest trading day thereafter. |
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The election loomed over the markets this week, with both investors and businesses assessing potential outcomes and subsequent policy shifts. Global markets experienced mixed movements amid Big Tech earnings announcements and the U.S. Presidential election, which is days away.
Read more. |
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The mortgage rates in the U.S. surged for the fifth consecutive week, a key focus as rates have remained above 6% and are expected to remain at this elevated level into 2025. According to Freddie Mac's latest Primary Mortgage Survey, the average 30-year fixed rate rose from 6.54% to 6.72%, up from the previous week; the 15-year increased by an average of 5.99% compared to 5.71% for the same period. Read more. |
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| Geopolitical tensions intensified this week as the European Union enforced steep tariffs on Chinese electric vehicles, escalating the trade war between the EU and China. The tariffs aim to protect European automakers from what the EU considers unfairly subsidized Chinese competition. Read more. |
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The communication services sector (XLC) led the GICS performance this week, buoyed by Alphabet's robust earnings report, which further propelled the sector's growth. In contrast, the energy sector lagged, affected by stabilizing oil prices amid geopolitical tensions and excess supply concerns. Read more. |
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Growth stocks continued to outperform value stocks this week, driven largely by strong earnings from tech giants like Alphabet and Meta, which boosted market confidence in growth sectors. Read more. |
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This week, cryptocurrencies saw volatile trading sessions, with Bitcoin's price declining to below $71,000 and the valuation of crypto-linked stocks like Coinbase and Robinhood declining. However, Bitcoin's (BTC-USD) broader market appeal continues to grow, with narratives suggesting price targets of $100,000, supported by historical halving cycles. Read more. |
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In a significant development within the crypto space, Kraken appointed Stephanie Lemmerman as its new Chief Financial Officer. The change comes as Kraken faces an ongoing lawsuit by the Securities and Exchange Commission over operating as an unregistered securities exchange. Read more. |
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The U.S. dollar experienced modest gains this week, supported by rising Treasury yields and robust economic data. The Japanese yen strengthened following the Bank of Japan's decision to keep interest rates unchanged, reinforcing its appeal as a safe-haven currency. Read more. |
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The nation added 12k non-farm payrolls compared to last month's 223k print. However, it's important to note that this was the first month since Hurricanes Helene and Milton impacted the survey. Strikes at Boeing also likely skewed the figures. Read more.
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► FOMC - Following the September JOLTS and PCE, market forecasts continue to price in a 25 bps cut for the upcoming November 7th meeting.
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► Inflation - Inflation shows stabilizing trends, with consumer prices remaining at pivotal levels; however, concerns persist regarding long-term price stability amid geopolitical uncertainties.
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► Labor Market - Labor market indicators remain mixed, with robust job creation offset by subtle declines in workforce participation, as upcoming jobs reports aim to shed light on the employment trajectory and economic sustainability.
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| U.S. Presidential Election Ferrari N.V. (RACE) |
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| Toyota Motor Corporation (TM) QUALCOMM Inc. (QCOM) |
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| FOMC Interest-rate decision Duke Energy Corp. (DUK) Airbnb, Inc. (ABNB) |
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| | Sony Group Corporation (SONY) |
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*Performance is as of November 1, 2024. Alpha Picks adds two stocks per month - on the closest business day to the 1st & 15th. Alpha Picks removes stocks based on rating thresholds (i.e., when a rating changes to a sell). Performance is calculated and reported daily using time-weighted returns. For more details on the performance calculation and methodology of Alpha Picks, click here.
Past performance is no guarantee of future results. Alpha Picks does not take account of your objectives or your financial situation and does not offer any personalized investment advice. Any content and tools on the platform are offered for information purposes only. Any views or opinions expressed may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker, U.S. investment adviser, or investment bank. |
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