Hello everybody. Welcome back to another episode of the market close. We are live. We got a bunch of different things going on in regards to the equity markets. A lot of different headlines. We got to talk about some of these headlines that just came in. Also, we've got some earnings after the bell. Some of them in the semiconductor space, which is going to be really important as well. So, we're going to take a look at that and keep going from there.

I mean, so far, folks, based on what we're seeing, looks like we're going to end out on a green day. I didn't even see S&P for the past 30 minutes. Not only did I not see it hit 684. It's at 684.90. It almost touched 685. Wow, what a day. I did not see that, but there you go.

I did see Google get to 270. Right now, it's just or get close to 270. It's at 269.74, just below that at 269.02. So, Google having a great day. Tesla got to 460 at one point before a little bit of a sell-off right there. Tesla right now at 440. Palantir, hopefully we get that 190 close, even if we don't, above 189 is very nice. That's up 2.8% on the day. Robin Hood, great day, got to 149, almost back to 150, 147. Grab a little bit of a breakout up 4%. You got 610 on Grab. AMD up 2.2%.

Qualcomm, which was up more at one point, gave back 50% of the gains. It was up 20%. Now it's up 10% based on them unveiling a new chip that potentially could be a threat to AMD and Nvidia. It's almost like the market woke up after the announcement and said, "Hey, maybe it's not that big of a threat." So that one gave back some of the gains, but still a pretty good day across the board. Apple's up 4%, Circle's up half a percent, Pinterest is up, NHS is up, Microsoft, Palo Alto Networks.

Ethereum 4,200, just went slightly red on the day, but still touched 42. You got Bit Mine right there 5430. Bit mine finally breaking above that 50 level. It was at 47 last week. So, nice to see it into the mid-50s and hopefully we can get a close into that 55-56 range over the coming days. SMCI up from the 10% decline that it had last week. Bitcoin right there just below 115. I mean, overall, it's been a pretty decent day across the entire board and you're not seeing that much weakness across some of these different sectors.

Where is HIMS? Hims, okay, HIMS is showing some weakness. That one's down. Again, there's a short list of stocks that actually are red today. A lot of the other stocks are green. Rocket Lab is green. That's up 1.3%. ASST. This was the new name that Mike Alfred took a position in. That's up 54% on the day. So, if you got in it, I mean, you're probably up if you didn't buy anywhere near the 180s right now at 169. It was kind of hovering around 130, 140 for the majority of the day. So, a bit of a breakout right there.

The one sector that is getting hit today is unfortunately these rare earth stocks. TMQ down 15, MP down seven, US down eight, critical metals down 15. A lot of this due to the fact that if tensions with China are not going to be as bad as we thought, the domestic demand for suppliers in the United States is not going to be as large. And even if it is going to be super important for the broader industry of supply chains, particularly around semiconductors and electronics, it might not be as massive as what the market had expected. And so that narrative has shifted a bit and that's why you have a bit of a decline on those names.

Everything else pretty much green on the day. So you're seeing some momentum. Yeah, even Dutch Bros. Even Dutch Bros picking up on the green. Now, let's get into the first story. We've got 11 minutes until the market closes today. The key earnings that I think most of us are going to be looking at are Cadence, Cadence Design Systems, that's a very important one. Celestica, they have earnings. Confluent, if I'm not wrong, do they have earnings? Yes, Confluent, that's a software name, they have earnings. They're down 21% for the year. Cadence, another big company, CDNS. And then Amcor, they also have earnings today. So that's one that a decent chunk of us are interested in. Talked about that over the past couple weeks. up from 28.50 to 33. So, we're going to see what their earnings turn out to today. And then NXPI. NXPI as well. That one is also a big one that we should look at.

Now, the big headline as we get into the close is Amazon, folks. Apparently, Amazon is downsizing. Report says they are highlighting 30,000 corporate jobs being cut. And this might not be due necessarily to AI because if it is that's kind of scary to be honest. But it might be more due to just organizational restructuring.

This is largely Amazon taking a look at its workforce and seeing where it can be more efficient. You know, something interesting has happened with this moment where everybody's talking about whether AI can replace jobs. Companies by and large have looked and they've said, "Where are the places where we might need maybe two employees working instead of five?" And they've decided to cut there. They've also used AI as an excuse for when they're suffering or not doing great in certain business units and need to cut down. And they say, "Well, we're going to look at AI to make us more efficient," where they just needed to do layoffs anyway. I'm not saying that's exactly what's happening with Amazon, but I do think that this is following a trend of many companies within the economy, either slowing hiring or cutting workforce and, you know, maybe winking at the fact that it's AI like Jassy might have done with his letter that he wrote earlier this year. Um where when you look at it, you don't see one-to-one automation of jobs.

As an Amazon shareholder, obviously, if you cut jobs, you cut costs, you cut expenses, that's good for net income margins, good for operating income margins, obviously good for EPS growth. But I am curious why exactly they are trying to go for 30,000 jobs. And these are corporate jobs. These aren't people in the factories in the warehouses. So these are more so like white collar jobs that Amazon is thinking of getting rid of, which again would be a total restructuring of their organization.

Wow, look at Apple. This is probably another reason why the S&P is moving. Apple right there 268, S&P 685. Oh my goodness. 685. The Bulls are winning. It's just that simple. They had a little bit of a hiccup on October 10th. A little bit of a $20 billion crypto liquidation hiccup. But then what did the Bulls do? They bought the dip. Bank of America said Friday, October 10th was the fifth largest inflow for single stocks in history. I mean, they bought the dip. 68 million calls were traded that day. A lot of those likely on the buy side as we had any momentum to the downside.

So 685 right there on the S&P 500. My goodness, that's five bucks away from 690. Less than 2% away from 7,000 on the S&P. Absolutely incredible. You got Apple right here helping to contribute. Apple potentially going for 270. Apple's a big company, so 2% on Apple really does matter. Tesla right here 452. AMD that's up 2.3. The Q's 628 all-time high on the Q's up 1.8% continuing to make a move. You got Google. Are we touching 270 yet? On the Googs, we are very close to touching 270, but Google and Apple moving. Both of them big parts of the S&P 500 along with Nvidia. I mean, Nvidia's up 3%.

Is Apple at 4 trillion? Apple's really close, guys. It's probably what, 40 cents away. Not even a full dollar away in terms of share price to getting to 4 trillion. 3.984 trillion. Dude, if we see two 4 trillion companies in 2025, I mean, what a remarkable period to live through as investors.

Where is the fear and greed index? Wow. We are still at fear. All-time highs on the market by a pretty wide margin. It's not just a small all-time high. The previous all-time high was 673.95. We are at 685 and still have fear. I mean what does greed look like? Is greed gonna be 7100, 7200 or something? Because if that's the case, we got a long way to go folks.

Again, I think the story of the past couple weeks really has been earnings progression, and we're going to get a lot more earnings on Wednesday, and we're going to see how the story plays out. But the banks have crushed it, consumer companies have crushed it, uh restaurants have not been too bad. So, if that can continue, that is more of a reason for the market to expand its multiple. Not to mention the fact we've got a rate cut coming up pretty soon. That's going to be on Wednesday. And I think the markets are also getting ready for what that rate cut is going to look like.

The stock market is now closed. Palantir did not give us the 190 close, but we got to 192 at one point. Closed at 189.14 on Palantir. That's up 2.44% on the day. Robin Hood ends out the day at 4% almost was at 149 closed at 146. Tesla great day 4% 452. Nvidia back into the 190s 2.8%. S&P 500 closes above 685. Again, if you've been bearish, it's really hard to see the S&P go not only at an all-time high, but a real degree of magnitude above the previous all-time highs.

And then you've got the Fed cutting rates and earnings coming up. The most important companies in the S&P 500, 43% of them are reporting earnings this week. But the most important ones, aka the MAX 7, are reporting in two days. If they deliver good earnings, I mean, who knows, dude. Who knows? Maybe that 7,000 is not that far away as you've got rate cuts coming down the corner and then you got earnings growth potentially leading to more momentum.

AMD closes at an all-time high or just below an all-time high at 2.68% 259. SoFi got the $30 close not too bad finally $30 close for SoFi. Google 268.95 just below 269. Grab got that 611. Grab was at 540 last week. So again like a lot of names it was on sale and for those that took advantage of it not too bad. Amazon's up 1.3%. Meta was up 1.6. Apple 268.78 basically an all-time high on the close. The VIX was down 4% on the day. Very good for equities.

Okay, Cadence. I got Cadence. Here we go. Cadence beat EPS 193, up from 17% on a beat year-over-year. And then revenue 1.39 billion. Cadence looks like they beat on the top and the bottom. This one is slightly flat after hours to red. Revenue is up 10% year-over-year. EPS is up 18% year-over-year. These guys do chip design. It's an important company. Market cap is 95 billion. Um, so you know, $100 billion company, not a small company by any means, but that one is slightly up.

Yeah, Amcore got a double beat. CEO says Amcor delivered third quarter revenue of 1.9 billion up 31% fueled by demand for advanced packaging which set a new revenue record. This quarter, we executed steep production ramps, achieved record revenue in our communications and computing and markets, and broke ground on our new advanced packaging and test campus in Arizona, reinforcing our commitment to enable our customers technology roadmaps and strengthen US semiconductor manufacturing. You got to beat on the top and the bottom. Stock is up and down, up and down. Not really making a big move. Basically flat.

Confluent that's up 9% that one moving. This is another software name that potentially was going to be acquired earlier this year, but it looks like that's holding on. Confluent delivered a strong quarter with 24% year-over-year growth in Confluent cloud revenue and 43% year-over-year growth and acceleration for remaining performance obligations. We're also seeing accelerating adoption of DSP components of our platform said the CEO. Cloud revenue was 161 million up 24% year-over-year. Our strong third quarter performance highlights the momentum of our data streaming platform and our diversified growth strategy. Looks like the street is liking these numbers as well.

Whirlpool earnings are out and it's a big beat on earnings. Revenue also coming in better than expected. Company also raising guidance for the full year, saying it is navigating the near-term unfavorable effects of tariffs. In particular, saying it's being impacted by inventory loading from Asian competitors. You can see those shares are up about 1% right now.

Celestica is down 10%. Okay, so this is your big mover after hours. Year to date, Celestica is up 224%. They're a Canadian multinational design manufacturing hardware platform. Wow. Pretty big beat. 158 versus 149. 6% EPS beat. EPS is up 50% year-over-year. Revenue 3.19 versus 3.04. Revenues beat by 5%. Revenues up almost 30%, 28% year-over-year. Look at that. Up 9%.

Okay, NXPI. This is another semiconductor company. EPS is $311. That's down 9% year-over-year. Revenue, they missed as well. 3.017 billion, down 7.2%. Okay, so you got a miss on the top and the bottom it looks like for NXP. markets not giving them too much hate for that. Actually, no. They beat on revenue. It's a very slight beat on revenue, but they did beat on revenue. They did miss on EPS. EPS, they missed 311 versus 312. Again, also a slight miss.

Rambus right here, they missed by 14% on EPS. 44 cents versus 51 cents expected. 178 versus 175 million revenue. They beat by 2%. Okay, so Rambus did not have a double beat. This one's getting hit.

Galaxy just offered a billion dollars in exchangeable notes. Is that stock tanking or is the market okay with it? Galaxy, it's down 8% on the offering. That's the other thing about these stocks that have run a lot. I mean, you cannot blame them for doing an offering because to them, they're like, "Hey, we're up 150%. If someone's upset about 150% thinking that's not shareholder friendly or that we don't care about shareholder returns, then essentially they're going to say screw you." Right? Like the stock's up 150% for the year. You just can't be that upset. So to them, they're like, "All right, we need to take advantage of this 150% move and we need to raise some capital." It it's very smart for these companies to do.

Speaking of politicians, here's an update as well. Dan New House bought AMD on August 17th, his first ever buy of AMD. He serves on the House Appropriation Subcommittee on Energy. Today, the Department of Energy announced a $1 billion partnership with AMD to build two supercomputers. So again, we're not saying he knew that the Department of Energy would give AMD a billion dollar partnership even if he serves on the House Appropriations of Subcommittee on Energy. We're just saying he's a phenomenal stock picker. And you know that that is the implication from when you see this type of stuff.

Tanner: I think by Thursday we're going to see more than a quarter of the S&P 500 earnings be updated just in those five names Meta, Google, Amazon, Apple, and Microsoft. That's 24.6% of the total waitings of the S&P 500. So if they all shine, if everything goes through as expected, then we could see an explosive rally. And I do actually think that we're going to see north of 7,000 by the end of the year. So I remain bullish and all my chips are on the table. I mean, I can't find any cash anymore.

Steve: It's going I mean, look, how can I change my opinion, right? I was at 7,000 the beginning of the year. I've been 7,000 the whole time. I'm not revising it down. I'm not revising up. I'm just sticking at 7,000.

Roy: I mean, pretty much everything is very bullish. I'm like Tanner. I have very little cash left. Uh, probably 1% cash at this point and it's probably going to be deployed this week. The roller coaster is still in full operation. There's real underlying momentum in the market. As long as earnings are good, Tander said it best there. And so this week I think really tells us that rate cuts also very good for the markets too. So it's a good time to be invested.

Matt: Yeah, I don't I don't believe in cash. I'm normally fully invested and every paycheck that I get, I generally put all that as much as I can feasibly into the markets. But I mean, I do feel like we're getting a little tired here, but I don't think that it's tired enough where we're going to see it top out. I do think that we still have another 5 to 10% to go before we really turn over. So, I feel that that means that we have another potentially 500 points potentially to go in the market. So, I can see us getting to 7250 before we really start to see some sort of large retracement.