ADDX Go Market Morning Wrap - 2024 Oct 15th

Market Key Focus

US Market

Stocks

The S&P 500 closed up 44.82 points, or 0.77%, at 5,859.85. The Dow Jones Industrial Average, which is closely related to the economic cycle, closed up 201.36 points, or 0.47%, at 43,065.22. The Nasdaq, which is dominated by technology stocks, closed up 159.75 points, or 0.87%, at 18,502.69. The Nasdaq 100 closed up 0.82%. The Nasdaq Technology Market Capitalization Weighted Index (NDXTMC), which measures the performance of the Nasdaq 100 technology industry components, closed up 1.20%. The Russell 2000 small-cap index, which is more sensitive to the economic cycle, closed up 0.64%. The VIX index of fear closed down 3.76% at 19.69.

Treasury

US Treasury spot market closed for Columbus Day

The dollar index rose more than 0.3% to two-month high

China Market

Stocks

Most China concept stocks fell. The Nasdaq China Golden Dragon Index closed down 2.09%, the China Technology Index ETF (CQQQ) closed down 2.89%, the China Internet Index ETF (KWEB) closed down 2.74%, the FTSE China 3x Long ETF (YINN) closed down 6.19%, the FTSE China 3x Short ETF (YANG) closed up 5.96%, and the "China Dragon" ETF RONDHL CHINA ETF (DRAG) closed down 3.62%. The FTSE A50 Index Futures closed down 0.27% in the night session at 13,800.000 points.

European Market

Stocks

The European STOXX 600 index closed up 0.53% at 524.76 points. The Eurozone STOXX 50 index closed up 0.74%, and the German DAX 30 index closed up 0.69% to a record high. The French CAC 40 index closed up 0.32%. The Italian FTSE MIB index closed up 1.09%. The British FTSE 100 index closed up 0.47%. The Dutch AEX index closed up 0.73%. The Spanish IBEX 35 index closed up 1.12%.

Treasury

At the close, the euro zone's benchmark 10-year German bond yield was up 0.9 basis points at 2.275%. The two-year German bond yield was up 2.2 basis points. Market expectations for a Bank of England rate cut have cooled, with the current estimate of 124 basis points of rate cuts by the end of 2025, 4 basis points lower than expected last Friday. The 10-year British bond yield was up 3.0 basis points, and the two-year British bond yield was up 0.8 basis points. The French 10-year government bond yield fell 0.4 basis points. The Italian 10-year government bond yield fell 1.4 basis points.

Macro

OPEC lowered its oil demand forecast for the third time in a row, and both US and Brent crude oil fell by more than 2%. At the end of the trading day, there were reports that Israel did not intend to attack Iran's oil and nuclear targets, and oil prices once plunged by nearly 5%
Harris, the US presidential candidate and current vice president, promised to support the regulatory framework for digital currencies. On Monday, digital currencies and their concept stocks rose across the board, with Bitcoin and Ethereum rising by at least 6%. Bitcoin rose 6% to $66,233 during the day, the highest in two weeks. Ethereum rose 6.8% to $2,635.095, approaching the high of $2,728 on September 27 and the high of $3,019 on August 3.

Earnings For Today

Before Open

Bank of America

EPS forecast 0.76

Revenue forecast 25.25B

Goldman Sachs

EPS forecast 6.93,

Revenue forecast 11.81B

UnitedHealth

EPS forecast 7.02

Revenue forecast 99.14B

Citigroup

EPS forecast 1.3,

Revenue forecast 19.84B

J&J

EPS forecast 2.19

Revenue forecast 22.17B

Louis Vuitton ADR

EPS forecast --

Revenue forecast 22.02B

After Close

Interactive Broker

EPS forecast 1.81

Revenue forecast 1.34B

JB Hunt

EPS forecast 1.39

Revenue forecast 3B

United Airlines Holdings(UAL)

EPS forecast 3.13

Revenue forecast 14.77B

Market Events

Stocks to Focus

Berkshire Hathaway recently continued to increase its stake in satellite radio company SiriusXM and now owns a 32% stake in the company.
Hang Seng Index issued an announcement that since Alibaba (9988.HK) has been included in the Hong Kong Stock Connect and meets the requirements of the rapid inclusion rules of the relevant indexes, Alibaba will be included in the following indexes after the close of trading on October 25, 2024 (Friday), and will take effect on October 28, 2024 (Monday).
Adobe rose more than 3.8% before falling slightly and closing up 2.87%. The company began to launch artificial intelligence video tools.