International pressure for a cease fire or pause in Israeli strikes in Gaza grew Friday as hospitals in the enclave began to run out of fuel and displaced Palestinians struggled to find clean drinking water.
The pace of jobs growth moderated in October as U.S. nonfarm payrolls recorded a 150K increase, less than the 179K expected and markedly fewer than the 297K new jobs added in September. It's important to note that September's figure was revised down from the original +336K estimate . Treasury Trust TLT up a strong 1.80% as 10 Year Treasury Yield (#TNX) is down to 4.525%.
Apple Inc (#AAPL)reported Q4 earnings topped wall street estimates as better than expected services revenue boosted results. However, Apple's CFO Luca Maestri issued a soft sales outlook for the holiday quarter on the earning call. AAPL is down over 1.26%.
Crypto exchange Coinbase (#COIN) stock is up 2.33% after the cryptocurrency exchange turned in a narrower Q3 loss than expected and better than feared revenue. Block (SQ) raises profit guidance after Q3 earnings beat, share surges 13%. The CEOs of Block Inc (#SQ) and MicroStrategy Inc (#MSTR), Jack Dorsey and Michael Saylor respectively, have both expressed a bullish outlook on #Bitcoin and have made signigicant investments in the cryptocurrency through their companies. Bitcoin in consolidating gains around $35000, once it find footing on $35000, its next target is $40000.
Due to sharp drops in Treasury yields, easing tension in Gaza and no disaster in Apple earnings, major market indexes surge 5 day's in a row. It has been a powerful rally, major market indexes recovered above 20,50 and 200 moving averages. US stock trend is now up. Even with this strong rally, S&P 500 (#SPX) CCI indicator is only at 68 far away from the 200 overbought level. S&P 500's next resistance is 4400 to 4450 area. With stock market entering a bullish season of the year, more market rally is likely.
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