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Good morning. Earnings take center stage today: Coca-Cola reports before the open, Boeing holds its call midmorning, and Visa reports after the close, one day before the Federal Reserve's rate decision.
The Market Gauge
Stocks rose on Monday. The S&P 500 gained 0.70% to 7,676.77, the Nasdaq rose 0.82% to 26,169.38, and the Dow added 146.42 points, or 0.28%, to 52,361.58. Tesla led the way, rallying more than 5% after an analyst upgrade and pushing above its 200-day moving average. Microsoft rose 1.5% ahead of its earnings on Wednesday, while Alphabet fell 1.1% for its fifth straight loss. DoorDash plunged after a report about an acquisition. Oil settled lower at $101.76 a barrel, and the 10-year Treasury yield held at 4.98%.
Monday made up for Friday's losses, but IBD's stance for this week is still cautious. It describes a divided market: AI and chip stocks are damaged, while a good number of stocks outside AI are setting up. With Microsoft, Alphabet, Amazon and the Fed all still ahead this week, IBD's advice is to stay careful with how much you own and keep a watchlist ready.
Beginner note: The 200-day moving average is the average closing price over roughly the last 10 months of trading. Investors use it as a gauge of the long-term trend. A stock below it is usually in a downtrend; when a stock pushes back above it, as Tesla did Monday, it is one early sign the long-term picture may be improving. One day above the line does not prove the trend has turned.
On today's calendar
Durable goods orders (8:30 AM ET): Orders for long-lasting products such as machinery, appliances and airplanes. Rising orders suggest businesses feel confident enough to invest.
Consumer confidence and new home sales (10:00 AM ET): One report shows how upbeat Americans feel about jobs and the economy; the other counts newly built homes sold last month. Consumer spending drives most of the U.S. economy, so mood matters.
Coca-Cola earnings (before the open): Results come out before trading starts, with a call at 8:30 AM ET. Coke sells in nearly every country, so its report offers a read on global consumer demand.
Boeing earnings (call at 10:30 AM ET): Investors will listen for how many planes Boeing is building and delivering. IBD notes the stock is below both its 50-day and 200-day moving averages.
Visa earnings (after the close): Results come after trading ends, with a webcast at 5:00 PM ET. Because Visa processes card payments around the world, its numbers show how much people are spending.
Fed decision (Wednesday afternoon): The Federal Reserve announces its rate decision tomorrow, followed by a news conference from Fed Chair Kevin Warsh. IBD says markets see only about a 10% chance of a rate hike this week. Microsoft and Alphabet report Wednesday after the close, and Amazon reports Thursday.
On the radar: Motorola Solutions
$MSI ( ▲ 0.79% ) Motorola Solutions makes two-way radios, 911 call-center software, body cameras and video security systems used by police and fire departments, governments and businesses. On Monday it rose 0.79% to close at 485.62. IBD flagged it as approaching a 494.85 buy point in a cup-shaped base, a level that is also its 52-week high. That leaves the stock about 1.9% below the entry. Volume was about 958,000 shares, close to its average of about 925,000. The company reports third-quarter results on Nov. 4.
Why it's worth watching: A buy point is a trigger, not a prediction. Until Motorola closes above 494.85 on strong volume, there is no breakout, and many stocks stall right at their old high. There is a second thing to weigh: earnings arrive Nov. 4, so even a clean breakout this week would face a big test within days. Some investors wait for the report before buying. Others start with a smaller position. Either way, decide your plan before the stock reaches the buy point, not after.
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ONE FOR THE ROAD
Coke, Boeing or Visa: which report today tells you the most about the economy, and why? Hit reply and tell me.
Educational content only. Not financial advice. Past performance does not predict future results. Read the full financial disclosure.
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