October 8, 2024

Good morning MonsterTrades community.  One change to make is to adjust our stop on TIGR to 8.76. This thing swings and we've hit for well over 60% but right now it might get us here.  Watching this one closely.  

 

Other notes:

 

Stock futures rebounded slightly following a losing day on Wall Street with rising oil prices and bond yields in focus. Those two factors eased a bit Tuesday morning, boosting sentiment.

Some tech shares like Nvidia and Super Micro Computer were higher Tuesday. Nvidia added about 1.6% and Super Micro gained 3.3%. Wells Fargo gained 1% in premarket following an analyst upgrade.

Rising bond yields put downward pressure on the market to start the week. Notably, the 10-year Treasury yield climbed above 4% Monday to touch its highest levels since early August. But the 10-year Treasury yield was stable Tuesday morning, hovering around 4%.

West Texas Intermediate oil futures advanced above $77 per barrel to start the week, but was back down about 2% early Tuesday as traders monitored Israel’s expected retaliation to Iran missile attacks and U.S. efforts to stave off an even wider war in the region.

Stocks have been volatile in the new trading month as investors have grown increasingly fearful of escalating conflict in the Middle East. The S&P 500 is off by a little more than 1.1% in October following a 2% gain in September.

Investors will watch Tuesday for economic data on small businesses and the trade deficit. They’ll also monitor speaking engagements scheduled throughout the day for central bank leaders including Boston Federal Reserve President Susan Collins and Atlanta Fed President Raphael Bostic. A key inflation reading — September’s Consumer Price Index — looms on Thursday.