Stocks To Watch – 10/28/2024

Brief Overview

Welcome back to this week’s Stocks to Watch! We’re in the midst of earnings season with a full docket of names scheduled to report and some big names reporting last week. 

Lets get into the happenings of last week.

Small-cap stocks experienced a pullback Monday as yields climbed, causing some market tension. Nvidia reached new all-time highs, showcasing its resilience, while other popular stocks saw significant fluctuations.

Global stocks faced challenges Tuesday, with international indices slipping while U.S. markets remained steady. Earnings results stirred up market movements, notably with GM and GE heading in different directions. 

Tesla zapped the tech sector with a strong earnings beat Wednesday, reversing its quarterly losses. Although revenues missed estimates, the upbeat earnings report provided a lift to tech stocks. In the commodity markets, sugar futures began showing potential, while Spirit Airlines, Peloton, and others also had noteworthy price swings.

The Nasdaq hit new all-time highs, underscoring a bullish mood. Gold prices continued to rise, yet gold mining stocks didn’t follow suit and faced declines. A 2x Berkshire Hathaway ETF launched, bringing a new leveraged option for investors.

Bears finally ended the bulls’ winning streak, marking a shift in momentum. Meanwhile, the NYSE announced plans to extend trading hours to 22 hours, reflecting its competitive stance in the evolving market landscape.

As we wrap up October, we look forward to continued insights from earnings season and how these economic signals will shape the market as we head into the final months of the year.