Afternoon Note
Major indices are moving higher following favorable earnings from Microsoft (MSFT) and Meta platforms (META).

Magnificent Seven names are leading the market higher, with Microsoft (MSFT) coming out as the frontrunner.

The Ten-Year Treasury Yield (TNX) is up 4.8 basis points and moving back above the 4.2% level.

Three sectors are in the red with Health Care (XLV) the worst performer, as Eli Lilly (LLY) slips after lowering earnings’ outlook. Technology (XLK) is the frontrunner and getting a boost from Microsoft (MSFT) as well as semiconductor names.

The Fear and Greed Index finally escaped fear territory.

ISM Manufacturing PMI fell to 48.7 in April from 49 in March and above estimate of 48. Notably, employment edged up to 46.5 from 44.7 while new orders rose to 47.2 from 45.2. These were partially offset by a decline in output to 44 from 48.3.

Construction spending fell 0.5% M/M in March, down from a 0.6% M/M increase in February and below expectations of a 0.2% rise. Private sector spending fell by 0.6%, driven by non-residential falling 0.8% and residential declining 0.4% .Furthermore, the Health Care segment was one of the largest negative contributors overall, losing 1.8%.

After the close, Amazon (AMZN) reports earnings. AI Capex and consumer spending are set to be the key aspects in the quarterly report.
The stock has reacted well to earnings over the past seven quarters, only declining twice.

| Tweet |
| 10/2/2026 1:08 PM | A Friday Lift |
| 10/2/2026 9:41 AM | A GENTLE WAVE |
| 10/1/2026 1:15 PM | Volatile Start |
| 10/1/2026 9:28 AM | THE SILENT BEAR & RAGING BULL |
| 9/30/2026 1:35 PM | Waiting on Micron |
| 9/30/2026 9:42 AM | SALAD DAYS FOR SUPER INTELLIGENCE |
| 9/29/2026 1:38 PM | Weak Tone |
| 9/29/2026 9:35 AM | STRANGE DAYS INDEED |
| 9/28/2026 1:15 PM | A Soft Start to the Week |
| 9/28/2026 9:35 AM | BOND MARKET HISTORY LESSON HELPS |
| 9/25/2026 1:21 PM | Diplomatic Hopes Set the Mood |
| 9/25/2026 9:38 AM | THE LEAD HORSES ARE BACK |
| 9/24/2026 1:20 PM | Yields Set the Tone |
| 9/24/2026 9:35 AM | TOO HOT? |
| 9/23/2026 1:09 PM | Rate Hike Fears |
| 9/23/2026 9:29 AM | RECORDS, RIVALS, AND THE RACE FOR AI |
| 9/22/2026 1:17 PM | Digesting Monday’s Rally |
| 9/22/2026 9:36 AM | A Strong Start to the Week |
| 9/21/2026 1:14 PM | Monday Momentum |
| 9/21/2026 9:33 AM | Tech Poised to Surge |
| 9/18/2026 1:32 PM | Yields Overshadowing Chip Strength |
| 9/18/2026 10:09 AM | REMEMBER 3D PRINTING? |
| 9/17/2026 1:29 PM | Bounce Back Thursday |
| 9/17/2026 9:45 AM | TIME FOR WARSH TO LEARN BLACKJACK AND BOXING |
| 9/16/2026 1:19 PM | Setting the Stage |
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