Monday, November 6th 2023
Hi Oak Investors,
Welcome to another recap on the week’s action and events!
At Oak Investing, I look to provide value for all levels of investor, whether it’s pulling together the week’s best articles, insights and breaking news, or clarifying new concepts for beginners.
I hope you enjoy this week’s recap, please get in touch if there’s anything more you’d like to see in The Acorn. If you like what you see, please like, subscribe and share to keep growing the Oak Investor community! 🌳
Thanks,
Gordon
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Summary 📝
Wow, what a week!
Last week was the best return seen since March this year, with pretty much every company finishing in the green!
As the Federal Reserve hinted that their work may be done, and as companies continued to report healthy earnings, investors appeared to trickle back into the market after a long period of uncertainty.
S&P 500- 5.29%
NASDAQ- 5.71%
Dow Jones Industrial Average- 4.68%
The Volatility Index COLLAPSED as fears of further rate hikes were priced out.
At present, markets are pricing in a 90% chance of no change in rates at the next Fed meeting in mid December, with a 10% chance of 25BPS hike.
The Fear and Greed index is moving back up towards neutral, but still in Fear territory, at 42/100.
Seasonality comes back into play again in November, with the rest of the year typically being a good time to be in riskier assets. Of course, this isn’t a guarantee, but with many of the previous obstacles now priced in or out of the way, there’s less to hold stock prices down than before!
As always, keep to your strategy, don’t let the noise change your plan, and learn as much as you can!
This Week in History 📰
Source- The History Place
November 7, 1989 - The East German government resigned after pro-democracy protests.
November 9, 1989 - The Berlin Wall was opened up after standing for 28 years as a symbol of the Cold War. The 27.9 mile wall had been constructed in 1961.
November 11, 1992 - The Church of England voted to allow women to become priests.
Major Events This Week 🔬
Economic Events
Source- Unusual Whales
Monday
11:00 am Fed Gov. Cook speaks
2:00 pm Federal Reserve senior loan survey
Tuesday
8:30 am U.S. trade deficit
9:15 am Fed Vice Chair for Supervision Barr speaks
10:00 am Fed Gov. Waller speaks
3:00 pm Consumer credit
Wednesday
5:15 am Fed Gov. Cook speaks
9:15 am Fed Chair Powell delivers opening remarks
10:00 am Wholesale inventories
2:00 pm Fed Vice Chair for Supervision Barr speaks
4:45 pm Fed Vice Chair Jefferson speaks
Thursday
8:30 am Initial jobless claims
2:00 pm Fed Chair Jerome Powell on panel at IMF
Friday
Veteran’s Day
Incoming Earnings Reports
Source- Earnings Whispers
Notable Upcoming Earnings
Monday
DISH (premarket) Implied Move: +/- 10.63% Sector: Communication Services
GT (afterhours) Implied Move: +/- 8.46% Sector: Consumer Cyclical
TRIP (afterhours) Implied Move: +/- 8.92% Sector: Consumer Cyclical
Tuesday
UBER (premarket) Implied Move: +/- 6.53% Sector: Technology
DDOG (premarket) Implied Move: +/- 9.45% Sector: Technology
RIVN (afterhours) Implied Move: +/- 10.28% Sector: Consumer Cyclical
LCID (afterhours) Implied Move: +/- 11.59% Sector: Consumer Cyclical
OXY (afterhours) Implied Move: +/- 3.40% Sector: Energy
HOOD (afterhours) Implied Move: +/- 7.80% Sector: Technology
UPST (afterhours) Implied Move: +/- 18.11% Sector: Financial Services
Wednesday
RBLX (premarket) Implied Move: +/- 12.31% Sector: Communication Services
UA (premarket) Implied Move: +/- 12.46% Sector: Consumer Cyclical
DIS (afterhours) Implied Move: +/- 5.37% Sector: Communication Services
AMC (afterhours) Implied Move: +/- 12.33% Sector: Communication Services
LYFT (afterhours) Implied Move: +/- 12.40% Sector: Technology
TWLO (afterhours) Implied Move: +/- 10.33% Sector: Communication Services
Thursday
LI (premarket) Implied Move: +/- 6.87% Sector: Consumer Cyclical
AZN (premarket) Implied Move: +/- 3.08% Sector: Healthcare
PLUG (afterhours) Implied Move: +/- 11.24% Sector: Industrials
TTD (afterhours) Implied Move: +/- 10.58% Sector: Technology
Friday
STNE (afterhours) Implied Move: +/- 10.30% Sector: Technology
Chart of the Week 📈
Source- Chart of the Day
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Thanks for reading, have a great day!
Gordon
Disclosure ✅
This newsletter provides general information only. Before making any financial or investment decisions, please consult a financial planner to take into account your personal investment objectives, financial situation and individual needs.