November 1

Stock mentions: BABA, JD, CSCO, ROKU

MACRO:  ECONOMICS, SPY

US Markets

• S&P 500 Futures +12 points
• US 10-Year 1.7%
• VIX 12.93
• Oil $54.37
• Dollar Index 97.31

International Markets

• Nikkei -0.33%
• HSI +0.72%
• KOSPI +0.80%
• Shanghai +0.99%
• DAX +0.34%
• FTSE +0.33%

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MACRO

• China -Caixin PMI 51.7 vs. est. 51.0
• US Job report +128k vs. est. of 90k
• Wage Growth +3.0% vs. est. of +3.0%
• ISM PMI 10 AM – est. 49.3

S&P 500 (SPY)

The S&P 500 is pointing to a slightly higher opening, and the trend continues to be higher for the index. But the big news will center around the job report.

STOCKS

Alibaba is rising in the pre-market after reporting better than expected results. The stock is challenging resistance today at $180, and if it can clear that level of resistance it can rise to around $188. I noted some bullish betting and the positive setup going into results in this free story on October 30. Alibaba’s Quarterly Results May Send The Stock Soaring

JD.COM (JD)

JD.com is once again challenging resistance at $31.50. This price has been a wall for JD since March. How many more times can this price be testing without a break out finally occurring? Maybe it finally happens, and the stock finally pushes towards $34.80.

CISCO (CSCO)

Cisco is falling after ANET reported dissappointing results. I think the stock is fine around $46.50.

ROKU (ROKU)

We can continue to watch Roku and see how it behaves around the $150 level. I still think it is more likely the stock heads lower.

-Mike