Today is Monday, October 31, 2022.
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Stock Market Indicators to See
Mike Tedeschi, the market advisor at TradeZing, discusses breadth indicators and sentiment readings for picking stocks in a new episode of the Early Bird podcast.
Go the Distance: Tedeschi describes breadth readings as measuring the number of stocks moving up against the number of stocks moving down.
Fear or Greed: Sentiment readings, another strategy discussed by Tedeschi, indicate if investors are panicked.
Good Results: When combined in 2022, both of these readings can help investors get a better indication of what is happening in the market, according to Tedeschi.
Final Thoughts: What advice does Tedeschi have for new investors who want to use breadth indicators and sentiment readings? Find out by listening to a new episode of the Early Bird podcast.
Notable Earnings Today: NXP Semiconductors (Nasdaq: NXPI), ON Semiconductor (Nasdaq: ON), Global Payments (NYSE: GPN), Avis Budget Group (Nasdaq: CAR), Alliance Resources Partners (Nasdaq: ARLP), Arista Networks (NYSE: ANET), XPO Logistics (NYSE; XPO), Goodyear Tire & Rubber (Nasdaq: GT), CNA Financial (NYSE: CNA), Stryker (NYSE: SYK), Saia (Nasdaq; SAIA), Williams Companies (NYSE: WMB), Howmet Aerospace (NYSE: HWM), SunCoke Energy (NYSE: SXC), Black Stone Minerals (NYSE: BSM), Insperity (NYSE: NSP), American Water Works Company (NYSE: AWK), Jeld-Wen Holding (NYSE: JELD), Marriott Vacations Worldwide (NYSE: VAC), Cincinnati Financial (Nasdaq: CINF), Fabrient (NYSE: FN), Herbalife Nutrition (NYSE: HLF), Leggett & Platt (NYSE: LEG), SBA Communications (Nasdaq: SBAC), Varonis Systems (Nasdaq: VRNS).
Notable IPOs Today: BrandywineGLOBAL - Dynamic US Large Cap Value ETF (Nasdaq: DVAL), Martin Currie Sustainable International Equity ETF (Nasdaq: MCSE).
Notable Equity Crowdfunding Campaigns Ending Today: Localvore (StartEngine), Honor Your Flow (Seed At The Table), Rize + Rest Cafe (Seed At The Table), Snowbelt Cannabis (Mainvest), Zirconia (StartEngine), Mullybox (Republic), AgWiki (Fundify), Voice Lessons (StartEngine), Proctor360 (Netcapital), Quants Compete (Netcapital).
Notable Economic Events Today: Chicago PMI (9:45 a.m. ET).
Apple iPhone Factory Shipments Reportedly Slashed
Details: Reuters reported on Sunday that iPhone supplier Foxconn (TPE: 2354) could slash November iPhone shipments by up to 30% for its manufacturing facility in Zhengzhou, China. Foxconn said it was trying to fix this by boosting production at other facilities. Apple has not commented yet.
Background: Since last week, Foxconn’s factory in Zhengzhou has been hit with a Covid outbreak.
Final Thoughts: Apple’s stock is down 14% this year, but is up 9% in the last 30 days. The timing of this issue is particularly bad because iPhone sales are critical during the upcoming holiday season.
Equity Crowdfunding Spotlight: Phuc Labs
Briefly describe your business. Phuc Labs reimagined how to efficiently reclaim resources from industrial waste streams by utilizing ML/AI and robotics. We are recovering metals e-waste, spent EV batteries, and solar panels so these materials can be reused in the supply chain.
What are the terms of the investment for your campaign? We are raising a $1 million bridge seed round. Terms: SAFE note, $15 million pre-money valuation. See Republic for details.
What makes your startup special? Veteran start-up team with multiple exits. Our digital system is receiving market pull. It is also portable, scalable, 40% more efficient, and uses 90% less energy. It is adaptable and can be modified based on the needs of different applications.
Trends to Watch
Worried: Rocky Treasury-Market Trading Rattles Wall Street (The Wall Street Journal)
Economic Headwinds: Fresenius Medical cuts outlook on slower recovery, rising costs (Reuters)
Excitement: BNB jumps to new BTC all-time high as Elon Musk's Twitter fuels DOGE bulls (Cointelegraph)
Do or Die: Jittery Stock Traders Eye Four Days That Will Sow Market's Fate (Bloomberg)
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