Stocks are entering the hottest period of the year

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Oil hunch boosts marketsAll main U.S. indexes rose Monday on comfortable oil costs whereas traders awaited Large Tech earnings. The pan-European Stoxx 600 index climbed 0.41% after a uneven day of buying and selling. Shares of Dutch well being product large Philips slumped 16.9% after the corporate minimize its full-year forecast on weak demand from China.

Volkswagen places the brakes on billsVolkswagen is contemplating pay cuts, layoffs and plant closures in Germany, as a part of plans to overtake its enterprise, the corporate’s works council stated on Monday. Volkswagen is not incomes sufficient income from its automotive gross sales, stated Thomas Schäfer, chief government of Volkswagen Passenger Automobiles, whereas it is dealing with elevated competitors from Chinese language EVs.

Trump accuses Taiwan of stealing businessFormer U.S. President Donald Trump accused Taiwan of stealing the nation’s chip enterprise, he stated on “The Joe Rogan Expertise” podcast. Trump additionally stated he would implement tariffs on Taiwan if he have been elected president. Bernstein analyst Stacy Rasgon informed CNBC the concept of Taiwan stealing the U.S.’s chip trade is “ridiculous.”

Buying and selling 22 hours a day?The New York Inventory Change presently permits digital buying and selling for 16 hours a day. The bourse, owned by Intercontinental Change, desires to broaden that to 22 hours a day. Market members are divided over whether or not the transfer is critical and even clever. In any case, the proposal may not go ahead — it has but to obtain regulatory approval.

[PRO] Tech could be in hassle, chart showsThe bursting of the 2000 dot-com bubble was one of many worst moments ever for tech shares. Wolfe Analysis, a sell-side analysis agency, factors out {that a} chart monitoring the efficiency of a fund of tech shares is displaying indicators that historical past would possibly repeat itself. 

November is one in every of my favourite months of the 12 months. The climate begins getting chilly because the moist and blustery monsoon, bringing chilly November rain, sweeps throughout Southeast Asia.

Markets additionally like November, although for utterly completely different causes. They like warmth, and November brings it.

Over the previous decade – and even in an election 12 months – November’s been the most effective buying and selling month, on common, for the S&P 500, in keeping with Carson Group knowledge. The final time the S&P fell greater than 1% in November was through the world monetary disaster of 2008.

That statement’s corroborated by Goldman Sachs, which notes that Oct. 28 marks the start of “the most effective buying and selling interval of This fall for U.S. equities with knowledge going again to 1928,” wrote Scott Rubner, the financial institution’s managing director for world markets.

Markets did certainly rise yesterday. The S&P added 0.27%, the Dow Jones Industrial Common gained 0.65% and the Nasdaq Composite superior 0.26%. That added to the S&P’s year-to-date achieve, which stands at 22.1%.

That robust displaying within the earlier a part of the 12 months boosts November’s seasonal impact much more, in keeping with Financial institution of America’s Chief Fairness Technical Strategist Stephen Suttmeier.

“When the SPX is up YTD by October, which is the seemingly situation for 2024, the index is up 79% of the time for the November-December interval on common,” wrote Suttmeier in a Monday word.

Earlier than getting too excited, nevertheless, take note analysts are bullish on shares over a two-month interval. The 12 months forward stretches lengthy and vast: nothing lasts perpetually, even shares’ November reign.

— CNBC’s Alex Harring, Pia Singh, Scott Schnipper, Hakyung Kim and Tanaya Macheel contributed to this report.