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Stock Market Today: November 5th - 9th, 2018

Discussion in 'Stock Market Today' started by bigbear0083, Nov 2, 2018.

  1. stock1234

    stock1234 2017 Stock Picking Contest Winner

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    Market well off the highs now :eek: Let’s see if we will get any surprise from the midterm :D
     
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  2. Steven_Burt

    Steven_Burt Well-Known Member

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    I don't understand oil here, I thought sanctions would be moving it higher by now.
     
  3. Steven_Burt

    Steven_Burt Well-Known Member

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    I guarantee some will be surprised tomorrow no matter what happens. Place your bets :p
     
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  4. bigbear0083

    bigbear0083 Content Manager
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  5. bigbear0083

    bigbear0083 Content Manager
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    Here is this AM pre-market thread for those of you wanting to get a quick read before today's open-
    [​IMG] <-- click there to read!

    Happy trading to all on this Wednesday.
     
    stock1234 likes this.
  6. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    One theory I've heard is there is another factor at play that we haven't had before. Because of the Khashoggi incident, Saudi Arabia wants to keep prices low to make nice for the West.
     
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  7. bigbear0083

    bigbear0083 Content Manager
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    Shout out to @stock1234 for a making a good call from a few weeks back when you said the markets would likely rally after the midterms were done no matter the outcome, since it removes the "uncertainty" out of the market. Sure, it's one day, but we've seen a pretty decent recovery off the correction lows from last month.

    Also, a shout out to @Frankenstein -- I recall you were looking for 2800 on the SPX. We're not very far right here. Very nice call.
     
    stock1234 likes this.
  8. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    Steven_Burt likes this.
  9. T0rm3nted

    T0rm3nted Moderator
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    I was worried yesterday the market would go down after mid-terms, looks to be the opposite.
     
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  10. stock1234

    stock1234 2017 Stock Picking Contest Winner

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    Great day for the bulls :eek: FED decision at 2 PM Eastern tomorrow, but I guess it is being overshadowed by the midterm and the FED isn’t expected to hike rates tomorrow. I guess their language will be something to watch though

    With less than 2 months left and the earnings season being mostly done, I guess the trade tensions and the FED will drive the market rest of the year :D Trump and Xi will be meeting end of this month I believe, it should be the next big market moving event
     
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  11. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    Up, up and away today. Gapped right over the 200 ma.
     
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  12. Frankenstein

    Frankenstein Active Member

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    The SPX is is testing that 2830 level. It's at 2815
     
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  13. bigbear0083

    bigbear0083 Content Manager
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  14. bigbear0083

    bigbear0083 Content Manager
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    Good morning to all.

    Here is the pre-market thread for those of you wanting to get a quick read before today's open-
    [​IMG] <-- click there to read!

    Happy trading to all on this Thursday.
     
  15. bigbear0083

    bigbear0083 Content Manager
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    REMINDER: FOMC Announcement @ 2pm eastern today.

    No Fed Presser though.
     
  16. FutureNvrEndz

    FutureNvrEndz Member

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    So what usually happens when a hike is not expected, and then it's confirmed to not be happening?

    Will we get any other info out of this announcement today?
     
  17. bigbear0083

    bigbear0083 Content Manager
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    Forward guidance.

    Today's meeting is all about path of future rate hikes. As of now expectations of a raise in December are pretty high.

    Also, fed verbiage.

    Since there is no press conference today, only the statement may offer clues to path of future hikes.

    The big meeting will be at EOY in December when we get Fed projections along with the statement and presser.

    But today's meeting will largely be a non-event imo, absent something completely out of left field which is rare nowadays in FOMC announcements.
     
  18. FutureNvrEndz

    FutureNvrEndz Member

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    Thanks!
     
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  19. stock1234

    stock1234 2017 Stock Picking Contest Winner

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    Yeah let’s see if the FED will move the market at 2 pm :D

    Dollar stronger ahead of the FED, and if it spikes even higher after the FED then it could put some pressure on equities. Oil at risk of breaking below of 60s pretty soon :eek:
     
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  20. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    Aerospace giant Bombardier to cut 5,000 jobs worldwide

    https://www.bbc.com/news/business-46130990

    The struggling plane and train manufacturer said the job cuts would be made to "streamline" operations as part of a broader restructuring plan.

    The cuts will come mostly from its aerospace division with some from the firm's rail division.

    Profits up
    The announcement came as Bombardier unveiled its third-quarter results, in which pre-tax profits doubled to $267m for the three months to September compared with the same period last year.

    Sales were down 5% to $3.6bn, but revenue is expected to jump 10% to at least $18bn next year.

    "We continue to make solid progress executing our turnaround plan," said chief executive Alain Bellemare in a statement.


    Not sure if I'd read much into this. May just be their turnaround plan. Although considering they're profitable, you don't want to turn around too far.

    I'll be on the lookout for more news like it.
     

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