Bull Radar

Style Outperformer:

• Small-Cap Growth +1.8%
  

Sector Outperformers:

• 1) Retail +2.7% 2) Alt Energy +2.6% 3) Regional Banks +2.3%

Stocks Rising on Unusual Volume:

• REPL, ESTC, CLSK, UGI, STNE, RDW, MSTR, LB, GAP, SMCI, AESI, CNXC, LUNR, GPCR, PTGX, AAOI, VIST, KURA, M, MARA, YPF, ATKR, HALO, SEI, DDOG, SLM, LEU, DAVE, QDEL, AI, MRNA, BKSY, ROK, MDB, ASGN, PBR, MNDY, JBGS, NNE, ROIV, TPR, UTI, RKLB, MAGN, PBR/A, SPIR, ESPW, ABBV, TGT, ZI, ACM and LNTH
  

Stocks With Unusual Call Option Activity:

• 1) FEZ 2) ESTC 3) XLI 4) APA 5) GAP

Stocks With Most Positive News Mentions:

• 1) REPL 2) UGI 3) NGVC 4) ESTC 5) GAP
  

Sector ETFs With Most Positive Money Flow:

• 1) XLF 2) SOXX 3) MSTY 4) XLI 5) IGV
  

Charts:

• ETFs Rising on Unusual Volume
• Stocks Rising on Unusual Volume

Monday's Earnings/Economic Releases of Note; Market Movers

Earnings of Note 
Company/Estimate 

Before the Open:

• (BBWI)/.47
• (DSX)/-.01
  

After the Close: 

• (A)/1.41
• (CENT)/-.22
• (LESL)/.11
• (SMTC)/.23
• (ZM)/1.31
  

Economic Releases

8:30 am EST

• The Chicago Fed National Activity Index for Oct.
  

10:30 am EST

• The Dallas Fed Manufacturing Activity Index for Nov. is estimated to rise to -1.8 versus -3.0 in Oct.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The 2Y T-Note auction, Needham Consumer Tech/Ecommerce conference and the (PAR) investor day could also impact global trading on Monday.

US Equity Market Hours

• 9:30 am - 4:00 pm EST

Friday Watch

Night Trading 

• Asian equity indices are +.25% to +1.25% on average.

• Asia Ex-Japan Investment Grade CDS Index 73.75 unch.

• China Sovereign CDS 63.0 -.25 basis point.
  
• China Iron Ore Spot 102.6 USD/Metric Tonne +.5%

• Bloomberg Emerging Markets Currency Index 37.6 -.05%.
• Bloomberg Global Risk-On/Risk Off Index 67.1 +1.1%.
• Volatility Index(VIX) futures 16.8 +.2%.
• Euro Stoxx 50 futures +.40%

• S&P 500 futures -.01%.

• NASDAQ 100 futures -.12%.  

Morning Preview Links

BOTTOM LINE: Asian indices are mostly higher, boosted by technology and consumer shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher.  The Portfolio is 100% net long heading into the day.

Stocks Surging into Final Hour on Earnings Outlook Optimism, Stable Long-Term Rates, Short-Covering, Tech/Alt Energy Sector Strength

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 37.6 -.2%
• 3-Month T-Bill Yield 4.54% +1.0 basis point
  

• China Iron Ore Spot 102.4 USD/Metric Tonne +.4%
• Dutch TTF Nat Gas(European benchmark) 48.3 euros/megawatt-hour +3.2%

• Citi US Economic Surprise Index 37.7 -2.9 points
  

• Citi Eurozone Economic Surprise Index 11.8 -2.1 points

• Citi Emerging Markets Economic Surprise Index -.7 -.1 point
• S&P 500 Current Quarter EPS Growth Rate YoY(473 of 500 reporting) +8.2% +1.6 percentage points
  
• S&P 500 Blended Forward 12 Months Mean EPS Estimate 269.29 +.10:  Growth Rate +12.9% -2.4 percentage points, P/E 22.0 +.1
  
• S&P 500 Current Year Estimated Profit Margin 12.58% -1.0 basis point
  
• NYSE FANG+ Current Quarter EPS Growth Rate YoY(8 of 10 reporting) +33.3% +7.6 percentage points
  
• NYSE FANG+ Blended Forward 12 Months Mean EPS Estimate 380.04 +.46: Growth Rate +33.5% +.2 percentage point, P/E 32.5 -.1
  
• Bloomberg US Financial Conditions Index 1.01 -3.0 basis points
  
• Bloomberg Euro-Zone Financial Conditions Index 1.01 +2.0 basis points
  
• US Yield Curve 7.75 basis point (2s/10s) -2.25 basis points
  
• US Atlanta Fed Q4 GDPNow Forecast +2.58% unch.
  
• US Recession Within 6 Months Probability(3M/18M Forward Yld Curve Spread) 33.3% unch.
  

• Cleveland Fed Inflation Nowcast Core PCE YoY +2.76% unch.: CPI YoY +2.70% unch.
  
• 10-Year TIPS Spread 2.35 -1.0 basis point
  
• Highest target rate probability for Jan. 29th FOMC meeting: 53.5%(+.8 percentage point) chance of 4.25%-4.5%. Highest target rate probability for March 19th meeting: 43.0%(+1.7 percentage points) chance of 4.25%-4.5%. (current target rate is 4.5-4.75%)
  

Overseas Futures:

• Nikkei 225 Futures: Indicating +254 open in Japan 
• China A50 Futures: Indicating +1 open in China

• DAX Futures: Indicating +100 open in Germany

Portfolio:

• Higher:  On gains in my utility/tech/consumer discretionary/financial/industrial sector longs and emerging market shorts
  

• Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
  

• Market Exposure: Moved to 100% Net Long
  

Bear Radar

Style Underperformer:

• Large-Cap Value +1.3%
  

Sector Underperformers:

• 1) Shipping -1.0% 2) Social Media -.6% 3) Video Gaming -.3%

Stocks Falling on Unusual Volume: 

• NMM, CLSK, ASC, RBLX, ZETA, GOOG, COIN, BIDU, LOMA, WMG, XPOF, MMS, TRMD, PDD, MSTR, ZIM, CPA, EH, KLC and KURA
  

Stocks With Unusual Put Option Activity:

• 1) XME 2) ARCC 3) SNOW 4) EH 5) ROST
  

Stocks With Most Negative News Mentions:

• 1) BIDU 2) PDD 3) CATO 4) TCS 5) ACHC
  

Sector ETFs With Most Negative Money Flow:

• 1) XLP 2) XLV 3) IGV 4) VDC 5) KWEB

Charts:

• ETFs Falling on Unusual Volume
• Stocks Falling on Unusual Volume

Bull Radar

Style Outperformer:

• Small-Cap Growth +2.2%
  

Sector Outperformers:

• 1) Computer Hardware +4.1% 2) Alt Energy +3.3% 3) Computer Services +3.1%

Stocks Rising on Unusual Volume:

• SNOW, AOSL, NNE, SAVA, UTI, OKLO, SMCI, LUNR, KD, TDOC, AS, IONQ, MDB, VSTS, RDDT, RSI, TGTX, DFH, LMND, MARA, RKLB, POWL, AI, DE, AMSC, ALAB, BKSY, NET, AAOI, FOUR, SUM, DDOG, CLS, INOD, MEG, DESP, DTM, TAC, ESTC, CFLT, DY, OMCL, AVPT, SPIR, MRUS, GTLB, ICLR, OKTA, GTLB, GLBE, MRUS, BAH, KBR, MANU, ALGM, ET, ICLR, FLEX, WIX, TWLO, ATKR, SAIA, NTAP, NVMI and CE
  

Stocks With Unusual Call Option Activity:

• 1) MSTZ 2) NTAP 3) SNOW 4) JNPR 5) DE

Stocks With Most Positive News Mentions:

• 1) SNOW 2) WKSP 3) KD 4) SMCI 5) DFH
  

Sector ETFs With Most Positive Money Flow:

• 1) SOXX 2) XLY 3) XLK 4) XLE 5) GDX
  

Charts:

• ETFs Rising on Unusual Volume
• Stocks Rising on Unusual Volume