Traders work on the floor of the New York Stock Exchange during morning trading on Oct. 8, 2024.
Michael M. Santiago | Getty Images
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Here’s what CNBC TV’s producers were watching as the Nasdaq Composite closed at a fresh high, and what’s on the radar for the next session.
The Trump trade
- The Nov. 5 presidential election is a week away.
- Trump Media & Technology Group: The stock is up nearly 50% over the past five trading sessions. It is up 32% in two days. On Wednesday, CNBC TV’s Robert Frank will look at how wealthy it has made the former president. CNBC friend and expert market watcher Larry McDonald noted on Tuesday that DJT now has a bigger market cap than The New York Times: $10.3 billion versus $9.2 billion. DJT shares are still 35% from the March high.
- Tesla: The stock is up around 20% in a week, but shares have stalled recently. The stock was down 1% on Tuesday.
- Bitcoin has also been on an upward trend. On Tuesday, it rose 3% and touched $73,601.59, its highest level since March.
- Inverse bond ETFs: The ProShares Short 20+ Yr Treasury (TBF) is up nearly 7% so far in October. The
ProShares Short 7-10 Year Treasury (TBX) is up almost 4% in October. - The Treasury yields: The 10-year Treasury yield is at 4.25%. The two-year note is yielding 4.09%, and the one-year Treasury bill yield is at 4.28%. The yield on the six-month T-bill is 4.49%, and the three-month T-bill is yielding 4.61%. The one-month T-bill yields 4.77%.
- The SPDR Bloomberg High Yield Bond ETF (JNK) is yielding 6.51%.
- The iShares iBoxx High Yield Corporate Bond ETF (HYG) yields 5.87%.
- The iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) yields 6.68%.
- Fidelity’s Corporate Bond ETF (FCOR) yields 4.12%. The ETF is down 2.44% in October.
Two big tech reports due after the bell
- Microsoft is up 1.2% in the past three months. Microsoft is 7.77% from the July 5 high.
- Meta Platforms is up 27% over the past three months. The stock hit a high Oct. 7, and it is down 1.6% from that level. The stock has exactly doubled in the last 12 months.
Advanced Micro Devices
- The chipmaker reported Tuesday afternoon, beating revenue expectations and matching on earnings in the third quarter.
- AMD fell 7% in after-hours trading.
- It was on a run as of late, up nearly 8% in the past week.
- The stock is up 72% in the past year.
- CEO Lisa Su will be on CNBC TV Wednesday in the 9.a.m. hour, Eastern.
Caterpillar
- The industrial giant reports Wednesday morning.
- Caterpillar shares are up 12.5% in the past three months.
- It is 4% from the high hit two weeks ago.
Your health and your money
- Several big name pharma and biotech companies report on Wednesday.
- Eli Lilly is due before the bell. The stock is up about 12% in the three months. Shares are up 55% year to date, and they stand 7% from the August high.
- AbbVie is up 4.1% in three months. The stock is 5% from the September high.
- Biogen is down 14% over the past three months. The biotech is 31% from the January high.
- U.S-traded shares of GSK are down 4.6% over the past three months. The stock is 17% from the 52-week high hit back in May.
- Amgen reports after the bell. The stock is down about 5% in three months. Amgen is 9% from the July high.
The homebuilders
- As yields rise, the homebuilders are falling.
- Jim Cramer and the “Mad Money” team did a good bit on the sector Tuesday night at 6 p.m.
- The SPDR S&P Homebuilders ETF (XHB) is down 8.6% since hitting a high on Oct. 18.
- D.R. Horton is the worst of the bunch in the last week, down 7.25% in that period. Shares are down 12% in October.
- PulteGroup is down about 3% in a week and 9.7% in October.
- Lennar is down 9.3% in October.
- Toll Brothers fell 2.2% Tuesday. It is down 4.6% in October.
- KB Home is down 8.45% in October.