Afternoon Note
Major indices are making a nice rebound off of session lows. All major indices are now in the green, with the exception of the Nasdaq.

Fed Chair Jerome Powell’s dovish remarks on monetary policy and indicating a likely rate cut this month drove the market’s huge intraday reversal.

Eight sectors are moving higher, with Industrials (XLI) in the lead driven by gains from Caterpillar (CAT). The company has agreed to acquire RPMGlobal Holdings Limited to expand its mining technology solutions.
Meanwhile, Technology (XLK) is the laggard and contributing to Nasdaq’s underperformance. The sector is being led lower mostly by semiconductors.

Financials (XLF) are second best performing sector, getting a boost from bank earnings. Wells Fargo (WFC) is leading the sector after they beat top and bottom lines on their earnings this morning.

Advanced Micro Devices (AMD) is rising as a competitor to Nvidia (NVDA) in the AI chip space. Oracle (ORCL) plans to deploy 50,000 AMD AI chips in its data centers.

Economic Data
The NFIB Small Business Optimism Index fell for the first time in 3 months to 98.8 in September from 100.8 in August and missing estimates of 100.5. Notably, 64% reported supply chain disruptions affecting their business.

Short sellers are having their worst year since 2020. The basket of the top 250 most shorted US stocks soared 57% this year.

What’s happening in the stock market is beyond remarkable and its happening with the typical indifference, or animosity, from financial media. This rally is driven by the “America First” agenda and has ravaged the soul of “experts” who hate President Trump.
For those that eschew passive investing, the stock market is not a spectator sport, it’s an area of opportunities. These days are a once in a lifetime opportunity.
| Comments |
| Move wall street to Texas or Florida. Vincent on 10/14/2025 5:50:18 PM |
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