News

The India-U.S. trade talks collapsed earlier this year with New Delhi not agreeing to widen market access to its vast agricultural and dairy sectors.

AI stocks now dominate the S&P 500, raising big questions about diversification and your retirement portfolio.

Walmart is one of the largest employers of H-1B visa holders in the U.S.

Sector Overview

Today’s US stock market presents a mixed landscape, with some sectors showing resilience while others falter. As depicted in the stock market heatmap:

• 📈 Technology Sector: The technology sector shows a notable rebound driven by a 1.01% rise in Microsoft (MSFT). However, Oracle (ORCL) faces a decline of 1.22%, reflecting mixed sentiments within high-tech stocks.
• 📉 Semiconductors: The semiconductor sector faces a slight downturn, with Nvidia (NVDA) dropping by 0.57% and AMD by 2.80%. This hints at caution among investors amid potential global supply chain disruptions.
• 🚀 Healthcare Gains: The healthcare sector witnesses positive movements, particularly with Eli Lilly (LLY) up by 0.53% and Johnson & Johnson (JNJ) gaining 0.67%, reflecting investor confidence in drug manufacturers.
• 🛒 Consumer Cyclical: A challenging day for consumer cyclical stocks as Amazon (AMZN) declines by 2.09%, and Tesla (TSLA) is down by 2.12%. These movements may signal investor caution in retail and automotive sectors.

Market Mood and Trends

The overall market mood today veers toward cautious optimism. While certain segments like technology and healthcare experience growth, consumer cyclical and semiconductors reflect concerns potentially tied to market-specific news or economic outlooks.

Netflix (NFLX) sees a significant drop of 9.48%, weighing heavily on the communication services sector, potentially driven by disappointing subscriber growth or competition fears.

Strategic Recommendations

Investors should consider a diversified approach amidst today’s market flux. While technology and healthcare exhibit strong resilience, the consumer cyclical and semiconductor sectors demand careful observation due to volatility:

• Diversify into tech giants like MSFT, which currently show momentum and potential for steady returns amid industry fluctuations.
• Monitor healthcare stocks, particularly those showing consistent gains, as they might provide stability in uncertain market conditions.
• Exercise caution with consumer cyclical, considering dipping stocks like AMZN and TSLA, and reassess holdings in semiconductors pending further clarity on supply chains.

Engage with real-time market insights and trends at InvestingLive.com to make informed investment decisions. As the market navigates various dynamics, remaining agile and informed will be crucial in capitalizing on emerging opportunities and mitigating risks.

This article was written by Itai Levitan at investinglive.com.

The Euro (EUR) steadies against the Japanese Yen (JPY) on Wednesday, trading around 176.26 after snapping a four-day losing streak on Tuesday.

The Euro (EUR) steadies against the Japanese Yen (JPY) on Wednesday, trading around 176.26 after snapping a four-day losing streak on Tuesday.

• Crude oil drawdown of -0.961 million versus 1.205 million build expected.
• Distillates drawdown of -1.479 million versus an estimated drawdown of -1.933 million.
• Gasoline drawdown -2.147 million versus an estimated drawdown -0.809 million.

Late yesterday the private data showed:

• Crude oil a drawdown of -3.0M.
• Distillates a drawdown -1.0 million.
• Gasoline a drawdown -0.2 million

The price of crude oil is trading up $1.28 at $58.52. The high price today reached $58.82. The low price was at $57.34. The low price from last week extended to $55.96 before bouncing higher.

The White House yesterday said that they would be purchasing 1 million barrels for the strategic petroleum reserve. That was confirmed today by the energy secretary Wright. Wright added that it is a “great time to buy oil”.

Looking at the hourly chart, the price is trading back above its 200 hour moving average at $58.32. There is a swing area target on the topside of $59.78 to $60.10. The 38.2% retracement of the move down from the September 26 high comes in at $59.96 within that swing area target.

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

United States EIA Crude Oil Stocks Change below forecasts (1.8M) in October 17: Actual (-0.961M)

Airbnb CEO Brian Chesky wants to integrate ChatGPT software into the travel platform, but the software isn’t “quite robust enough.”

The weekly EIA crude oil inventory data will be released at the bottom of the hour. The expectations are for:

• Crude oil a build of 1.205 million
• Distillates a drawdown of -1.933 million.
• Gasoline a drawdown of -0.809 million.

Late yesterday the private data showed:

• Crude oil a drawdown of -3.0M.
• Distillates a drawdown -1.0 million.
• Gasoline a drawdown -0.2 million

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