Your Trading Week Ahead — October 24th

Welcome to Your Trading Week Ahead for October 24th. Here’s what you need to know before you go…

Quick recap

The S&P 500 and Dow closed the week near record highs as markets jumped to the upside amid strong earnings across various sectors. SPX finished +1.63% at 4,544. DJI closed up 1.09% at 35,677. The Nasdaq followed suit, finishing the week up 1.30% at 15,090.

Bitcoin is mostly flat on the week just under $61k after reaching a new all-time high of $66,930 on Wednesday. Meanwhile Ethereum ($ETH), the second-largest cryptocurrency by market cap, is still up 7% on the week after following $BTC to new highs. Solana ($SOL) +27%, Dogecoin ($DOGE) +12%, and Shiba Inu ($SHIB) +49% are all outpacing as well.

What to watch this week

Earnings roundup

Earnings season continues with Big Tech headlining the week ahead. Investors are waiting to hear from mega cap names like Facebook ($FB), Apple ($AAPL), Amazon ($AMZN), Microsoft ($MSFT), and Alphabet ($GOOGL).

With the major indices near all-time highs, it will be critical to see how the overall market responds to these quarterly results. Here’s some of the most noteworthy earnings reports to keep an eye on:

Economic calendar

There are several events on the calendar this week with the potential to move markets. Here’s some of the most important things to watch:

• S&P Case-Shiller home price index (August Y/Y) – Tuesday at 9am ET
• Consumer confidence index (October) – Tuesday at 10am ET
• New home sales (Sept.) – Tuesday at 10am ET
• Durable goods and core capital goods orders (Sept.) – Wednesday at 8:30am ET
• Advance report on trade in goods (Sept.) – Wednesday at 8:30am ET
• Initial and continuing jobless claims – Thursday at 8:30am ET
• Gross domestic product (Q3) – Thursday at 8:30am ET
• Pending home sales index (Sept.) – Thursday at 10am ET
• Consumer income and spending data (Sept.) – Friday at 8:30am ET
• Core inflation (Sept.) – Friday at 8:30am ET
• Chicago PMI (October) – Friday at 9:45am ET
• University of Michigan consumer sentiment index (October) – Friday at 10am ET

Tony Dwyer joins the Rebellion Roundtable

Canaccord Genuity’s Tony Dwyer accurately called the recent correction and subsequent rally back to all-time highs. Now he’s back with more predictions for tomorrow’s Rebellion Roundtable!

Join Jon, Pete, and the Rebel traders after the close when they break down the current market melt-up with one of the biggest bulls on Wall Street. You won’t hear this anywhere else. Click here or the image below to register for the FREE event.

Interested in learning how you can use the power of unusual options activity to conquer the market? Click here to download our Insider’s Guide to Trading UOA.