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So as I expected, the biggest pop of the week happened yesterday. The /ES futures are up today from yesterday’s close, but haven’t broken above yesterday’s peak which is an all-time-high.
Before we dive into next week’s busy schedule, I want to share a quick thought on what it means to be an intelligent investor.
Being an intelligent investor doesn’t require a big IQ.
What it does take is discipline and the ability to think for yourself. Patience is key in the markets.
One day, being long on small caps may pay off handsomely, and the next day, it might be a disaster. That’s just the way the market is — fickle.
The trick is to keep your eye on the long-term picture, and even though it’s tough, diligence will pay off in the end.
Finding those diamonds in the rough takes time, and it’s not something that happens overnight. But with hard work and the right approach, you'll eventually get there.
As they say, knowing is half the battle. So let’s get started with a look at what’s on the horizon…
Looking Ahead
Next week is going to be a busy one for earnings, and I’m paying close attention to these reports:
| | • | | Tuesday: General Electric (GE), Raytheon (RTX), Sherwin-Williams (SHW), Kimberly-Clark (KMB) | | | • | | Wednesday: Coca-Cola (KO), Boeing (BA), NextEra Energy (NEE), General Dynamics (GD), Hilton (HLT), IBM, Newmont (NEM), Tesla (TSLA) | | | • | | Thursday: Honeywell (HON), Northrop Grumman (NOC), Valero (VLO), Dow Inc. (DOW), Tractor Supply Co. (TSCO), Weyerhaeuser (WY), L3Harris (LHX) |
All of these earnings could shift the market, but I’m especially interested in the defense stocks like Raytheon and Northrop Grumman. With the current geopolitical tensions, I’ll be watching closely to see how these companies are performing and what impact global events are having on them.
Last week, I shared some thoughts on the Philly Fed Manufacturing Index and retail sales numbers. They came out stronger than expected, but it made the market nervous because now there’s uncertainty around the Fed’s next move.
Will they cut rates in November or not? That’s a big question on everyone’s mind, and next week’s earnings will give us more pieces of the puzzle.
Stay tuned and enjoy your weekend,
— Geof Smith
P.S. Nate Tucci has figured out a way to take the best parts of his breakthrough Automated Options strategy and amplify it. Get all the details here.
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