- The S&P 500 roared higher today by 1.89%; the third 1%+ up-day in the last four sessions
- This was the S&P 500’s fourth straight day higher after last week’s oversold clusters; today was its best day since April
- Breadth was outstanding; the equal weighted S&P 500 outperformed (+2.22%) and 90% of components closed in the green
- Apple reported earnings after hours and was trading lower; additionally, the jobs number has the potential to cause volatility tomorrow
- The 10-year Treasury Yield fell to 4.66%, which was a large difference from the 5% we were touching a couple weeks ago
- The NASDAQ Composite rose 1.78%, the Dow Jones Industrials Average rose 1.70%, and the Russell 2000 rose 2.67%
- The S&P 500, Dow Jones Industrials, and NASDAQ Composite all have weakly bullish intermediate postures
- Those same three indices are now trading above their 30 day moving averages (the NASDAQ’s 30 DMA is now rising)
- The Russell 2000 is likely to follow suit to a weakly bullish posture tomorrow, with even just a modest advance
- You can view the stocks that raised dividends in October here: https://www.marketscholars.com/2023/11/01/dividend-growth-investing-increases-from-october-2023/
- For additional content, Premium members of Market Scholars are welcome to watch my 3.5 hour Q&A class from earlier today: https://www.marketscholars.com/event/brandons-weekly-qa-session-294/
Please LIKE tonight’s Market Outlook video on Twitter and Facebook below:
11/02/23 - Watch the #MarketOutlook video from@MarketScholars here:https://t.co/QARFSUsMr4
— Brandon Van Zee (@BrandonVanZee) November 2, 2023
Stocks mentioned: $SPY $SPX $QQQ $IWM $RUT $DIA $DJIA $COMP $NVDA $META $MSFT $AAPL $AMZN $TSLA $GOOGL $AMT $LLY $NVO $MRNA $VIX $TNX $ADBE $SBUX $EOG $COP $TROW $TGT $HON $CB $PGR $RSP
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