📈 Stocks Surge Again

Plus: Boeing Job Cuts Loom

October 14, 2024

Good Morning!

The S&P 500 and Dow Jones reached new record highs last Friday, fueled by stronger-than-expected earnings from JPMorgan and Wells Fargo. With inflation easing and optimism growing around a "soft landing" for the U.S. economy, investors are eyeing more earnings reports this week. Boeing, Netflix, and other big names are in focus as markets brace for the next wave of data.

Grab your tiramisu latte and let's get into it! ☕️👇️

Markets

The S&P 500 and Dow Jones hit fresh record highs on Friday, driven by strong earnings reports from JPMorgan and Wells Fargo. Both banks exceeded profit expectations, sparking optimism that the U.S. economy might be achieving the elusive "soft landing." JPMorgan jumped 4.44% and Wells Fargo surged 5.61%, while the S&P 500 rose 0.61%, closing at an all-time high of 5,815.03. The Dow added 409 points, setting a new record of 42,863.86. As inflation continues to ease, the market remains bullish, hoping the trend will hold through the earnings season.

📈 JPMorgan Stock Jumps 4.5% After Profit Beats Estimates, Revenue Climbs to $43.32B
JPMorgan kicked off earnings season with a strong third-quarter report, beating expectations with $4.37 per share in profit, though profits slid 2% year-over-year to $12.9 billion. Net interest income rose 3%, surpassing forecasts. CEO Jamie Dimon praised the results but warned of rising geopolitical risks, saying conditions are "getting worse." JPMorgan stock surged 4.5% on the news.

🤔 Futures muted, earnings this week, Boeing job cuts - what's moving markets
U.S. stock futures were flat Monday after the S&P 500 and Dow hit record highs last week, buoyed by strong earnings from JPMorgan and Wells Fargo. Investors are now looking ahead to more earnings reports, including Netflix and major banks. Meanwhile, Boeing is set to reveal details about job cuts as it deals with financial challenges. Oil prices fell after weaker-than-expected Chinese inflation data raised concerns about demand from the world’s largest oil importer.

🤯 3 Stocks That Could Double Over the Next 2 Years
Carnival, Pinterest, and Opendoor could be undervalued stocks with significant upside. Carnival is benefiting from strong demand and lower interest rates, which could help it pay down debt faster. Pinterest is seeing accelerating revenue and user growth, with potential for its stock to nearly double. Meanwhile, Opendoor may soar if the housing market recovers, thanks to expected lower interest rates boosting demand.

Smart Money is Buying Gold Stocks. Are You?

ESGold Corp (CSE: ESAU) (OTC: SEKZF) offers a promising opportunity in the rising gold market. With $8M required to finish the Montauban plant, production could start in six months. The stock is gaining momentum, up over 50% this month.

Disclaimer: This ad is paid for and disseminated on behalf of ESGold Corp (it is sponsored content). We do not own any securities of ESGold Corp. This ad contains forward-looking statements, which are not historical facts. These statements are based on the current beliefs and expectations of ESGold Corp’s management and involve known and unknown risks, uncertainties, and other factors that could cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. Words such as “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential,” and similar expressions often identify forward-looking statements. This is not financial advice, please do your own DD. See SEDAR+ for more information.

Quick Links

Stocks

  • Dollar Index Steady After Second Winning Week in a Row. What to Expect Next? (TradingView)

  • Boeing’s Endless Doom Loop Gives No Respite to CEO Ortberg (Yahoo)

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