Presented by

OVERVIEW
The Weekend Rip: October 13, 2024

Stocks had another solid week, led by banks and technology stocks, as a fresh earnings season began. 🎉

Let's recap and prep you for the week ahead. 📝

What Happened?

🥳 On Monday, stocks slumped despite a chipmaker jump. Super Micro Computer rebounded sharply, though other big tech giants came under pressure. It was a Monday full of M&A activity, and Lithium finally got a look after a major rebound.

😨 On Tuesday, semiconductors and software led the major indexes higher. The market continued its undertone of uncertainty, as the Volatility Index ($VIX) stayed above 20 while stocks traded near all-time highs. Hindenburg Research targeted Roblox, and Robinhood and MicroStrategy led the crypto surge.

🔻 On Wednesday, stock market bulls broke through ahead of U.S. inflation data. Cruise stocks sailed higher on analyst upgrades, the FOMC Minutes showed a mixed committee, and Helen of Troy brought investors some joy after a rough decline.

🫨 On Thursday, inflation fears sparked a stock market slump. Rising prices and dropping employment jeopardized the “soft landing” narrative. Meanwhile, Aehr Test Systems soared on earnings, solar slumped, and software jumped.

👨‍💼 On Friday, banks took the market baton as they kicked off earnings season. Solid quarterly results sent the financial sector to new highs, Tesla’s RoboTaxi event revealed some clear beneficiaries, and Flutter Entertainment was hit by U.K. regulator rumors.

🤩 This week's Stocktwits Top 25 showed outperformance vs. the indexes.

Here are the closing prices: 

Bullets From The Weekend 📰

🤔 Chinese finance minister hints at a deficit increase during a closely watched briefing. He told reporters that the central government has ‘rather large’ room for a deficit increase but noted that policy discussions are still underway. Analyst projections for how much stimulus is needed to prop up China’s economy is 2 trillion to 10 trillion yuan. CNBC has more.

🌊 Americans face a flood insurance crisis. Middle-class wealth creation has historically been built around homeownership, though natural disasters like flooding can quickly turn those assets into liabilities. Recent events have reinforced the idea that there’s no easy or obvious way to protect America’s homeowners from flood damage, with private insurers looking ill-equipped to deal with it. More from Axios.

🚀 SpaceX’s Starship test completes remarkable booster catch. The company’s spacecraft splashed down in the Indian Ocean slightly over an hour after its launch from South Texas. However, the Super Heavy booster returned to its launchpad successfully just seven minutes after liftoff. This was a critical step in making the Super Heavy booster a fully reusable launch system just like SpaceX’s Falcon 9 rockets. The Verge has more.

SPONSORED
Adobe-Backed AI Startup Grows from $5M to $85M, Partnering with Top Brands

Introducing RAD Intel, a high-growth AI startup driving success in the $633B content, data, and influencer marketing industry. Brands like Hasbro, Skechers, and Sweetgreen are using RAD Intel’s AI-powered platform to achieve up to 3.5X ROI, delivering real results that set them apart.

With backing from 7,800+ investors, including employees from Google, Meta, Amazon, and support from Adobe's Fund for Design, RAD Intel has skyrocketed from a $5M to $85M valuation in under three years. The company has already raised $35M, and now is your chance to invest early in this proven tech disruptor.

RAD Intel's platform uses AI to provide brands with data-driven insights, helping them cut through the noise and engage their audiences with precision.

Don’t miss out! Get 10% bonus shares if you invest by October 15th at midnight PST.

This is a paid advertisement for RAD Intel’s Regulation CF offering. Please read the offering circular and related risks at invest.radintel.ai.

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