Elon's backers are 9 for 9. No. 10: Oct. 21

MARKET SIGNAL REPORT
POWERED BY STOCKSTOTRADE

MON OCT 19 RECAP · OFFICIAL CLOSE · SPY +0.42% QQQ +1.21% DIA −0.03% IWM +0.31%

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KEY TAKES

Tech got its relief rally. The Nasdaq rose 1.1% to 26,430.89 and chips posted their first gain in 10 days, with Amazon up 5%. Utilities (XLU −2.01%), banks (JPM −1.82%) and bonds paid for it, pushing the 10-year to 5.14%.
Steel Dynamics missed FactSet EPS ($5.26 vs $5.48) and traded near $226 after hours versus a $245.17 close. SpaceX and Netflix report after tomorrow's close.
Speculation is running hot again, and this overnight setup is built to trade away from that noise (From Millionaire Publishing)

THE CLOSE

The safe spots and bonds paid for the bounce. Tech and consumer discretionary led while utilities finished last, and yields rose with stocks. The AI debt worry stayed in the price: CoreWeave closed −0.44% at $61.12 despite Goldman's new Buy. SPY closed 766.48 (+0.42%), QQQ 718.36 (+1.21%), DIA 518.92 (−0.03%), IWM 271.28 (+0.31%).

Did the 3 PM read hold? Held. SOXX kept most of its gain at +1.73%, and TLT stayed red at −0.74%.

AFTER THE BELL

STLD missed FactSet EPS ($5.26 vs $5.48) but beat on revenue. Shares traded near $226 after hours versus a $245.17 close.

ZION EPS $1.78 vs $1.65 consensus, revenue a touch light.

WRB dipped after hours as net premiums written and ROE missed, per SeekingAlpha.

TOMORROW'S SETUP

Before the open. GE, RTX, 3M, GM, and NOC report Q3, an industrial and defense read after today's rotation.

8:30 AM ET. September housing starts and building permits, the first housing print with the 10-year at 5.14%.

10:00 AM ET. September pending home sales, the second housing read of the morning.

After the close. SpaceX ~4:00 PM ET, Netflix ~4:01 PM ET, plus ISRG, COF, CB, and UAL, a day before Tesla and Meta.

ONE TO WATCH TOMORROW

SPCX closed $147.96 (+1.32%), reports after Tuesday's close, earlier than most investors expected. FactSet revenue consensus $12.87B, RBC $12.59B. RBC says investors will look for clues on a SpaceX-Tesla combination. The tell: does revenue clear $12.87B, and does any Tesla talk on the call move TSLA after hours too?

SHH. THIS IS A CLUB.

You get the recap because you open and click. Go quiet and we give your chair away. See you tomorrow.

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Signal over noise. Evening recap of Monday's official close. Tuesday starts with GE, RTX, and GM before the open, and SpaceX and Netflix after the close.

Elon's backers are 9 for 9. No. 10: Oct. 21

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