8:45 AM – MORNING MARKET UPDATE & WATCH LIST
On Thursday, the Dow lost -28 points, while the Nasdaq jumped +66, and the S&P 500 added a mere +6.
QUOTE OF THE DAY:
“The care of human life and happiness, and not their destruction, is the first and only object of good government.”
– Thomas Jefferson
This morning, U.S. stock-index futures are mixed with the Dow’s down -23 points.
The main benchmarks are poised to post weekly gains as corporate quarterly results roll out and Wall Street weighs developments in Brexit and China trade talks.
Corporate earnings results remain the catalyst for the market this week.
More than 38% of S&P 500 companies posted quarter earnings for the third quarter thus far, according to FactSet. Of those companies, 78% have beaten analyst expectations.
Stocks in Europe are mostly trading in the red, while markets in Asia rose, with the exception of Hong Kong’s Hang Seng.
Today, there are about 40 companies reporting earnings. Key names include Barclays, Renault, and Verizon.
The final University of Michigan consumer sentiment survey for October arrives at 10 a.m. ET.
We had another BreakOut Alert yesterday as KRC traded above its TRIGGER PRICE of $80.76 with a +22% increase in volume.
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
Here are the last 10 BreakOut Alerts.
NOTE: These stocks were on my Technical SetUps WatchList. You can now start receiving my Technical SetUps WatchList each market morning through the BuyingBreakOuts website for only $9 a month here.
No matter the market, I always have a current watch list ready. There are now 8 stocks that we will be watching for a traditional break out to new highs.
Members can access all watch lists with updated trading criteria including – TRIGGER PRICE, TRIGGER VOLUME, and MAX BUY PRICE for every stock here.
About the Founder: James F. Taulman – James served as Editor-in-Chief of the first independently licensed website that offered stock reports and services based on the CAN SLIM® investment system. He has developed a knack for being able to quickly and accurately analyze high-ranked stocks based on this winning investment strategy. Over the years, Mr. Taulman has enjoyed assisting individuals from professional money managers to private investors with their needs in relation to implementing this investment approach on a daily basis in the current marketplace. Each Sunday you could hear him deliver his weekly market report as part of the “Your Money Matters” radio program on ABC and CBS radio networks.
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