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Afternoon Note

Holding Up

By Karina Hernandez, Senior Research Analyst
10/31/2023 1:44 PM

Stocks are holding up nicely, and investors are doing some bottom fishing, especially in Financials and Biotech.

We are watching for signs that the TLT could bounce from short-term oversold condition.

Consumer Confidence fell again in October, marking three consecutive months of decline. Consumers continued to be concerned with rising prices in general, particularly for grocery and gas prices. Expectations was down to 75.6 and present situation was down to 143.1.


Dallas Fed Services Activity plunged to -18.2 vs. -8.6 in the prior month and is close to retesting last December’s low.

Advanced Micro Devices (AMD) is scheduled to report after the bell. The Street will be closely watching the demand for MI300 processors, looking to see if the semiconductor company can capture more AI market share and compete with its closest competitor Nvidia (NVDA).



























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