Good morning
Equities are gapping up this morning as we close out what was generally speaking a good week for earnings results and guidance. Oil is pulling back slightly along with gold while the dollar is showing a little strength in pre market.
The markets appear to be getting an additional boost from the results of senate republicans approving a 4 trillion dollar budget measure. Clearing a hurdle towards the goal of passing tax reform this year or early next. It would be better, in my opinion, to see some bipartisan support on the tax reform initiative but apparently Washington is incapable of working together to achieve goals.
Janet Yellen speaks later on the future of global finance which could impact the markets but I doubt what she says will matter since she will more than likely be replaced next month but we will see who gets nominated by November 2nd.
Fund investors regain risk appetite
U.S. fund investors regained an appetite for risk over the last week, rushing into American and emerging-market equities, as the Dow breached 23,000. Stock mutual funds and ETFs overall attracted $5.4B in the week ended Oct. 18, while emerging markets pulled in $2.3B, the most cash since March, according to Thomson Reuters' Lipper research unit.
Friday's economic calendar
10:00 Existing Home Sales
1:00 PM Baker-Hughes Rig Count
2:00 PM Treasury Budget
7:30 PM Janet Yellen: "The Future of Global Finance: Populism, Technology and Regulation"
Stocks in the video
1. GPK hot daily earnings next week potential swing or long term hold after earnings
2. KALV lots of insider activity potential higher risk swing or day trade with volume
3. VRX oversold potential swing or day trade with volume
4. AVGR INPX two penny plays for potential scalp opps
5. ZDGE potential higher risk swing on pull to 2 -1.90 range or day trade is yo get some real volume
6. RDHL potential day trade right at resistance on the daily look for a pull and bounce
7. QURE potential red to green day trade opp continuation day
8. AAXN snap back play off SEC news low floater day trade or higher risk swing Insider buys in 19.80 area
9. QGEN nice daily potential swing or longer term hold
10. ASUR looking for a bounce off potential 10 price support day trade or higher risk swing
11. IMDZ insider buys from 6 and change up to 9 could get a snap back bounce off price support 5 could be a good target entry
