The view from the Alaska Botanical Garden at Bicentennial Park in Far North Alaska on September 22, 2024. The fall, Halloween and harvest season themed version of the Alaska Botanical Garden features special displays.
Hassan Akbas | Anadolu | Getty Images
This report comes from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open keeps investors updated on everything they need to know, no matter where they are. Like what you see? You can subscribe here.
What you need to know today
rebound tension
US stocks rebound on tuesdayall major stock indexes rose. In particular, the rise in technology stocks has led to a rise in the stock market Nasdaq Index. Pan-European Stoke 600 index Down 0.55%. European wine producers such as LVMH, Pernod Ricard and Diageo Slump after China announcement Anti-dumping measures on brandy products Imported from EU.
cooling oil price
crude oil price Tuesday’s decline There are reports that Israel may focus on attacking Iranian military bases retaliate against missile attackIt is reported new york times and jerusalem post. Both West Texas Intermediate Oil and Brent Yesterday, futures fell 4.63%, ending the hot rally in oil prices over the past week.
General Motors isn’t slowing down
General Motors The goal is to achieve adjusted EBIT of $13 billion to $15 billion by 2024. 2025 Adjusted Earnings Chief Financial Officer Paul Jacobson at Corporate Investor Day. This would be an achievement considering the slowdown in the industry.
Shorting Roblox
Hindenburg Research on Short Sellers Charged Tuesday That Roblox Combine daily active users with the number of people visiting their platform. Hindenburg said this distorts the true number of people visiting Roblox because DAU may include bots or alternate accounts. Roblox denies all claims in the report.
(PRO) Profit growth slows
Third-quarter earnings season for banking giants kicks off this week JPMorgan Chase Financial results are scheduled to be released on Friday. Investors may want Hone expectations. For S&P 500 companies, Wall Street expects earnings to grow at a slower pace than expected in June, according to FactSet data.
bottom line
October in America is pumpkin spice season, but the month also holds a dangerous edge to Halloween.
The market in October was indeed alternately panicked and reassured.
After falling 0.96% on Monday, S&P 500 Index It rose 0.97% on Tuesday. (It should be noted, though, that this doesn’t necessarily mean the S&P erased its losses and gained 1 basis point from Monday to Tuesday. Percentages are difficult to determine.)
same, Nasdaq Index Down 1.18% on Monday but up 1.45% yesterday, higher on gains in tech stocks NVIDIA, Palo Alto Networks and Yuan. this Dow Jones Industrial Average There were no such dramatic moves, falling 0.94% on Monday, but rising 0.3% on Tuesday.
Well, October certainly lives up to its name. The most volatile months for the stock market. But investors should remember that disturbing market swings aren’t always a good sign of a stock’s underlying health.
“While we expect continued volatility in October, we do not view overall market trends as bearish and encourage investing,” Robert Sluymer, technical strategist at RBC Wealth Management, wrote in a letter to clients. Investors maintain their view on long-term trends.
Investment bank Piper Sandler shares the same sentiment about October’s turmoil. “Historically, October is a ‘support and fill’ month as investors take stock of third-quarter earnings results,” Chief Market Technician Craig Johnson wrote in a note on Tuesday. react.
In fact, Johnson said that when stocks fall due to a mild repricing or correction, it’s a good opportunity for investors to take advantage and buy.
So, if investors can seize the right opportunity to enter the market or further consolidate their positions, the see-saw trend of the stock market in October will be pretty good. This season doesn’t always have to be creepy.
– CNBC’s Hakyung Kim, Samantha Subin and Alex Harring contributed to this article.
