The S&P 500 and Dow Jones Industrial Average closed at new all-time highs, with software, cybersecurity, and other tech-linked industries leading the charge. All eyes turn to tomorrow and Friday’s inflation data, though the market remains optimistic it will continue toward its 2% target. 👀

Today's issue covers the FOMC Minutes showing a mixed committee, Helen of Troy’s big earning bump, and why one industry *cruised* to the top of the Stocktwits “most bullish” list today. 📰

Here’s the S&P 500 heatmap. 1 of 11 sectors closed green, with technology (+1.12%) leading and utilities (-0.86%) lagging.

And here are the closing prices: 

Most bullish/bearish symbols on Stocktwits at the close: 📈 $NCLH, $CCL, $MDB, $TEAM, $RCL 📉 $CEG, $NTES, $NRG, $SMMT, $BA*

*If you’re a business and want to access this data via our API, email us.

Cruise and other travel-related stocks have been experiencing record demand in the two years since starting their post-pandemic recovery, and analysts expect the good times to keep rolling. 🥳

Citigroup upgraded Norwegian Cruise Line from ‘neutral’ to ‘buy,’ citing further earnings and margin improvements and raising its price target from $20 to $30. The bank also upgraded and raised its price target for Royal Caribbean from $204 to $253 and Carnival Cruise from $25 to $28.

September cruise traffic was among the best on record and Citi’s analysis of pricing data says the trends look consistently positive into 2025 and beyond.

As for Norweigan’s business specifically, Citi analyst James Hardiman had this to say about the company’s strategy, "Norwegian's shift in strategy from quality at all costs to a more balanced yield/cost relationship gives us confidence that the considerable pricing power and the company's increased focus on costs 'can't help but bear fruit…” 👍

The Stocktwits community is looking for further upside in these stocks following their fresh breakouts. Sentiment readings were in ‘bullish’ or ‘extremely bullish’ for all three stocks heading into today’s closing bell. 🐂

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*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here.

While the market was thrilled September’s 50 bp cut, today’s FOMC Minutes signaled there may be hesitation around the Fed’s next move.

Only one Federal Open Market Committee (FOMC) member, Governor Michelle Bowman, voted against the half-point cut in the first dissent on an interest rate vote since 2005. However, the minutes show that others also favored a smaller move, even if they weren’t willing to vote that way. 😬

Here’s an excerpt from the full document that sums the situation up well.

Since that meeting, stronger-than-anticipated labor market data has made the 25 bp cut camp look more prudent. This also raises the odds that future cuts will likely be smaller in nature and potentially less frequent (meaning not every meeting). 🤏

Still, the Fed Fund Futures market shows that market participants still anticipate a 25 bp cut at each meeting now through March, bringing down the benchmark rate a full percentage point to the 3.75%-4.00% range.

Time will tell if the Fed continues to deliver the goods. But for now, the market is positioning itself for more cuts and an economy that notches slow and steady growth. We see that in cyclical market bets like software and cybersecurity breaking out to new all-time highs this wee as the bulls’ party continues. 📈

Two underfollowed stocks, Helen of Troy and Byrna Technologies, both reported earnings today with drastically different results…

Helen of Troy strutted into earnings with a little pep in its step. It beat EPS estimates, coming in at $1.21 vs. the predicted $1.04, and raked in $474.2 million in revenue, smashing the $458.86 million forecast.

Shares popped nearly 18% today, even as net sales dipped 3.5% YoY. Beauty & Wellness flopped, but hey, Home & Outdoor grew… 0.8%, so that’s something, right? Overall, the company continues to face the same demand slump others in the consumer goods space are.

Still, CEO Noel Geoffroy used terms like “Reset and Revitalize” to They’re holding onto their full-year guidance of $1.885-$1.935 billion in net sales and EPS of $7.00-$7.50.

But before we break out the confetti, let’s talk about that gross profit margin slip—from 46.7% last year down to 45.6%. It turns out they’re dealing with an “unfavorable product mix,” which has been an issue for consumer product companies amid the economy’s uncertainty.

Overall, the earnings were better than anticipated and driven primarily by operational efficiencies rather than robust consumer demand. Though In the current environment, it seems that’s all investors can really ask for…

Economic data: Consumer Price Index (8:30 am ET), Initial/Continuing Jobless Claims (8:30 am ET), and Fed Cook Speech (9:15 am ET). 📊

Pre-Market Earnings: Tilray Brands ($TLRY), Domino’s Pizza ($DPZ), Delta Air Lines ($DAL), Theratechnologies ($THTX), and Neogen ($NEOG). 🛏️

After-Hour Earnings: Aehr Test Systems ($AEHR), Voxx International ($VOXX), Educational Development Corp ($EDUC), and Oil-Drill Corp Of America ($ODC). 🎧

P.S. You can listen to all of these earnings calls and more straight from the Stocktwits app or website. You’ll find them on the calendar page and individual symbol pages once they’re set to begin! We’ll see you there. 👍

🎁 October 7-13: Get free access to IBD Digital's premium tools and research, no credit card required*

⚒️ Mining giant Rio Tinto to acquire Arcadium Lithium in $6.7 billion deal

🚗 Here’s what investors need to know after GM’s capital markets day

₿ Controversial HBO documentary concludes Peter Todd invented Bitcoin

😧 Turkish Airlines flight from Seattle to Istanbul makes emergency landing after pilot dies

❌ Boeing withdraws contract offer after talks with union end without a deal, stock hits new 52-week low

🎧 Trends With Friends: how to play the bull markets in China & India

*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here.

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