The stock market is on absolute fire! The Dow and the S&P 500 just clinched their sixth straight week of gains, marking their longest winning streak of 2024, and both indexes are sitting at brand-new record highs. This incredible bull run continues to be fueled by resilient economic data that’s giving investors the confidence to keep pouring money into stocks, while the Federal Reserves continued cuts to interest rates are adding even more fuel to the flames.
But the big story today – the story that everyone is talking about – is the incredible surge in Netflix shares. The streaming titan exploded higher after reporting third-quarter earnings that absolutely crushed Wall Street’s expectations. Revenue? Up. Profits? Up. Subscriber growth? You bet it’s up! Netflix is proving that it’s still got what it takes to compete in an increasingly cutthroat streaming environment.
The Street was ecstatic, pushing the stock up over 10% in after-hours trading. For months, we’ve been telling our readers that Netflix is a contrarian opportunity. The so-called “smart money” has been betting against it, but they are clearly missing the bigger picture, and now it’s starting to look like they are scrambling to cover their shorts.
Today’s Blockbuster Stocks
Now, Netflix wasn’t the only star performer today. Apple (AAPL) jumped over 1% on reports of strong iPhone 16 sales in China. Remember what we said last week, China is coming back in a big way! And it looks like the early data is confirming our view! Coinbase (COIN) soared nearly 8% as the price of Bitcoin continued its relentless surge. The cryptocurrency is challenging the $70,000 mark, and savvy investors are racing to get a piece of the action.
Of course, not every stock was a winner. CVS Health (CVS) took a hit, dropping over 5% after replacing its CEO and delivering lower-than-expected earnings guidance. But honestly folks, this news is just noise. We’ve been warning our readers about growing risks in the healthcare sector for months, and it’s clear that the easy money has already been made, so this sell-off doesn’t come as a surprise to us.
Top Movers Today
Here’s a look at the top 5 gainers and losers from today, proving there are always opportunities out there if you know where to look:
| Stock | Closing Price | Percentage Change |
|---|---|---|
| Netflix (NFLX) | $763.89 | +11.09% |
| Apple (AAPL) | $235.00 | +1.23% |
| Coinbase (COIN) | $220.21 | +7.84% |
| Nvidia (NVDA) | $575.55 | +2.06% |
| Boeing (BA) | $293.22 | +1.27% |
| CVS Health (CVS) | $60.34 | -5.23% |
| American Express (AXP) | $276.79 | -3.15% |
| Moderna (MRNA) | $54.10 | -1.31% |
| Tyra Biosciences (TYRA) | $67.43 | +2.33% |
| Spirit AeroSystems (SPR) | $47.05 | -1.94% |
What to Watch Tomorrow
Don’t think for a minute that the excitement is over! Here are a few things that will be on our radar for tomorrow:
- Netflix Hangover?: The streaming giant delivered, but can it keep the momentum going? Will the broader market react positively to its strong earnings, or was today’s surge just hype? We’re going to dig deep and give our readers the inside scoop.
- China Syndrome: The Chinese economy just posted weaker-than-expected growth, but remember, bad news is good news in China! Why? Because it means they are going to have to pour stimulus into their economy. That means more money, more spending, and more opportunity for investors. Don’t believe the naysayers!
- Rate Cut Watch: With the Fed lowering rates again, the question now is – will they stop there? Or are they going to unleash a tidal wave of cash into the economy? The Street is betting they are gonna keep cutting, and we’re gonna be watching every move.
This is it folks, This is how fortunes are made. By staying ahead of the curve. By knowing what to watch. So stay tuned, because we’re going to keep you ahead of the pack.
