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The Investing Club holds its “Morning Meeting” every weekday at 10:20 a.m. ET.

The broader U.S. stock indices are breaking lower, slipping beneath their 50-day moving averages — a technical development not seen since early May following the April selloff. The move marks a shift in momentum and puts sellers back in control of the near-term bias.

For the NASDAQ index, the 50-day moving average sits at 22,657.35, with today’s low reaching 22,563.42. A sustained move back above that level would be needed to ease selling pressure and offer buyers some hope. Until then, sellers remain in control, and further corrective action is likely.

The next downside target comes near 22,044.43, corresponding to the swing lows from late September and mid-October. Below that, the 100-day moving average, currently rising near 21,770.55, would become the next key support level to watch.

For the S&P 500, the index has also broken below its 50-day moving average, currently at 6,668.76 — the first such breach since early May. Remaining below that level would keep the focus on the September-to-October lows near 6,550.79, followed by the 100-day moving average at 6,487.71 as a deeper target.

The NASDAQ is on pace for its worst week since March 31, down 4.4%, while the S&P 500 is off 2.65%, also heading for its steepest weekly loss since late March. The technical damage is notable, and for now, buyers have their work cut out for them if they want to shift the tone back in their favor.

This article was written by Greg Michalowski at investinglive.com.

AUD/USD trades sideways on Friday, around 0.6480 at the time of writing, following the release of a key indicator that showed a significant deterioration in US consumer confidence.

AUD/USD trades sideways on Friday, around 0.6480 at the time of writing, following the release of a key indicator that showed a significant deterioration in US consumer confidence.

It’s an ugly one in stocks as a mid-morning attempt to find a bottom has clearly failed. The Nasdaq Composite is at a session low, down 2% and that leaves the index down 4.9% on the week, which is the worst one since late March.

The trend isn’t exactly broken but it will need ot make a stand here.

Notable laggards:

• TSLA -4.9%
• AVGO -4.9%
• MU -4.6%
• NVDA -4.1%
• GOOG -3.4%
• META -2.1%

The big winner on the day is Expedia, up 17% as it raised its outlook on strong travel demand. I continue to believe that boomers and the wealthy traveling more is one best secular trades out there.

Another notable loser today is Archer Aviation, which was something of a meme stock. It’s down 19% today and has been cut in half since Oct 16.

This article was written by Adam Button at investinglive.com.

It’s an ugly one in stocks as a mid-morning attempt to find a bottom has clearly failed. The Nasdaq Composite is at a session low, down 2% and that leaves the index down 4.9% on the week, which is the worst one since late March.

The trend isn’t exactly broken but it will need ot make a stand here.

Notable laggards:

• TSLA -4.9%
• AVGO -4.9%
• MU -4.6%
• NVDA -4.1%
• GOOG -3.4%
• META -2.1%

The big winner on the day is Expedia, up 17% as it raised its outlook on strong travel demand. I continue to believe that boomers and the wealthy traveling more is one best secular trades out there.

Another notable loser today is Archer Aviation, which was something of a meme stock. It’s down 19% today and has been cut in half since Oct 16.

This article was written by Adam Button at investinglive.com.

Recent guidance from the CFPB calls on courts to overturn laws in 15 states which prohibit including medical debt on consumer credit reports.

Food bank leaders across the U.S. are responding to ‘a great increase in need’ due to SNAP disruption.

The shutdown of the U.S. federal government is causing flight delays and cancellations. What to know about travel credit card insurance.

Closing changes for the main European bourses:

• Stoxx 600 -0.6%
• German DAX -0.75%
• France CAC -0.3%
• UK FTSE 100 -0.6%
• Spain IBEX -1.45%
• Italy’s FTSE MIB -0.4%

On the week:

• Stoxx 600 -1.3%
• German DAX -1.3%
• France CAC -2.2%
• UK FTSE 100 -0.4%
• Spain IBEX -0.9%

This article was written by Adam Button at investinglive.com.