The Numbers Are (almost) In…
At market close (3PM) today, the winners of Rapunzl’s October Student Competition will be decided! Be sure to check the leaderboard to see if you came out on top.
We want to congratulate all participants on riding out a roller coaster of a month for the markets, and remind you to join this month’s November Student Competition, which is currently getting underway.
So be sure to navigate to the Competitions page and make sure you’re entered!
The market bounced back from a red October following several strong earnings reports as the S&P (S&P) has already gained 2.5% this week following its worst month in 7 years.
DowDuPont (DWDP) gained 8% following its earnings beat, its greatest move since 2015. Apple (AAPL), however, fell victim to lower-than-expected iPhone sales as it fell nearly 7% after hours on Thursday.
The market’s recent rally was also helped after Trump announced on Twitter (TWTR) on Thursday that trade discussions with China “are moving along nicely.” However, according to a senior White House official, a comprehensive trade deal with China is still far from reality.
Investors are looking for positive negotiations after worldwide markets, specifically Chinese companies, took massive hits following the tariff exchanges. Chinese President Xi Jinping said that he was open to continuing trade discussions at the G-20 summit, which starts on November 30th.
This will be an interesting event to follow as the short-term future of equities, specifically Chinese-related tech, will be weighing heavily on their conversations.