The Elon-backed startup you can own before its IPO

MARKET SIGNAL REPORT
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THU OCT 15 RECAP · OFFICIAL CLOSE · SPY +0.28% QQQ −0.13% DIA +1.08% IWM +1.37%

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KEY TAKES

September PPI was the hottest in more than four years (+1.3% m/m vs 0.6% est), and bonds still rallied (TLT +1.37%). Money went to the Dow (DIA +1.08%) and small caps (IWM +1.37%) while QQQ slipped 0.13%.
Chips fell a seventh straight day after TSMC's margin guide (SMH −1.04%). DELL finished −6.80%. Friday brings bank and SLB earnings before the open and industrial production at 9:15 AM ET.
See the three small stocks one 20-year trader thinks Elon has in his crosshairs next (From Millionaire Publishing)

THE CLOSE

Hot PPI, but retail sales were mostly gasoline, and bonds still rallied. Money moved into healthcare (XLV +1.86%), banks (KRE +1.77%), and gold (GLD +1.79%). Energy lagged (XLE −1.58%) even with USO +2.44%. SPY closed 771.79 (+0.28%), QQQ 728.00 (−0.13%), DIA 521.18 (+1.08%), IWM 275.08 (+1.37%). Did the 3 PM read hold? It held. SMH stayed red, XLV stayed green, and the Dow and small caps finished stronger than at 1:18 PM ET.

AFTER THE BELL

JBHT, the 3 PM letter's One to Watch, posted EPS of $1.82 vs FactSet $1.86. Revenue of $3.68B beat and Intermodal rose 20%. It traded lower after hours because profit growth lagged revenue growth. IBKR lifted its dividend 71.4% and still traded lower on a trading-revenue miss.

TOMORROW'S SETUP

Before the open. Truist (TFC), Travelers (TRV), SLB, M&T (MTB), Citizens (CFG), and Regions (RF) report. Regional banks report after KRE +1.77% today. SLB is the first oilfield-services read with crude near $98.

8:30 AM ET. September import and export prices. Another inflation input after Thursday's hot PPI.

9:15 AM ET. September industrial production and capacity utilization. First look at factory output since the hot PPI.

ONE TO WATCH TOMORROW

SLB closed $48.37 (−0.29%). It reports before Friday's open. Energy lagged while crude rose (XLE −1.58%, USO +2.44%) after two cargo ships sank near the Strait of Hormuz. Consensus is EPS of $0.62 on $9.3 billion in revenue. Tell: does SLB guide customer activity higher for Q4, and does XLE follow it green Friday?

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Signal over noise. Evening recap of Thursday's official close. Friday starts with bank and SLB earnings before the open, then industrial production at 9:15 AM ET.

The Elon-backed startup you can own before its IPO

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