U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points in pre-opening trade.
Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for Weekly Jobless Claims was 215,000 versus revised 213,000 last week. Actual was 218,000. Consensus for September Personal Income was an increase of 0.3% versus a gain of 0.4% in August. Actual was an increase of 0.3%. Consensus for September Personal Spending was an increase of 0.2% versus a gain of 0.1% in August. Actual was an increase of 0.2%.
The Canadian Dollar was virtually unchanged at U.S. 75.95 cents following release of August real GDP at 8:30 AM EDT. Consensus was a year-over-year increase of 1.4%. Actual was a year-over-year of 1.3%.
Apple jumped $3.82 to $247.08 after reporting higher than consensus third quarter sales and earnings.
Facebook jumped $7.75 to $196.00 after reporting higher than consensus third quarter revenues and earnings.
Kraft Heinz gained $1.12 to $30.12 after reporting higher than consensus third quarter earnings.
Celgene added $0.08 to $107.25 after reporting higher than consensus third quarter earnings.
EquityClock's Daily Comment
Following is a link:
http://www.equityclock.com/2019/10/30/stock-market-outlook-for-october-31-2019/
Note seasonality chart on the Transportation Average.
Responses to FOMC announcement at 2:00 PM EDT
As expected, the Federal Reserve reduced its Fed Fund Rate by another 0.25%
U.S. equity indices moved higher.
The U.S. Dollar and related ETF initially moved higher, but closed lower.
Gold and gold equity prices initially moved lower, but recovered smartly when the U.S. Dollar moved lower
Long term government bond prices moved higher
StockTwits released yesterday @EquityClock
Allstate $ALL, an S&P 100 stock moved below $104.82 completing a double top pattern.
General Electric $GE, an S&P 100 stock moved above $9.54 setting an intermediate uptrend.
Solar ETF $TAN moved below $28.40 completing a Head & Shoulders pattern.
BlackBerry $BB.CA, a TSX 60 stock moved above $7.08 completing a short term base building pattern.
Public discord continues in Chile. Chile iShares $ECH moved below $34.21 extending an intermediate downtrend.
Southern Companies $SO, an S&P 100 stock moved above $62.36 to an all-time high extending an intermediate uptrend.
Brookfield Asset Management $BAM.A.CA, a TSX 60 stock moved above $72.28 to an all-time high extending an intermediate uptrend.
Industrial SPDRs $XLI moved above $79.37 to an all-time high extending an intermediate uptrend.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for October 30th 2019
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for October 30th 2019
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for October 30th 2019
Green: Increase from previous day
Red: Decrease from previous day
Observation
Natural gas moved above $2.71 per MBtu extending an intermediate uptrend.
S&P 500 Momentum Barometer
The Barometer added 1.20 to 69.94 yesterday. It remains intermediate overbought, but continues to trend higher
TSX Momentum Barometer
The Barometer added 5.21 to 47.03 yesterday. It remains intermediate neutral.
Disclaimer: Seasonality and technical ratings offered in this report and at
www.equityclock.com are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed
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