Below are highlights from the NDW Morning Update Video for the morning of 10/22.

Below are highlights from the NDW Morning Update Video for the morning of 10/22. Access the video on the NDW Morning Update Video page. 

• Equity indices edged higher over the yesterday, led by the Dow Jones Industrial Average (.DJIA), which gained 0.69%. The S&P 500 (SPX) advanced 0.58%, while the S&P 500 Equal Weight Index (SPXEWI) rose 0.34%.
• Meta Platforms Inc. (META) reported better-than-expected third-quarter revenue and issued stronger-than-expected fourth-quarter guidance. However, shares fell after investors focused on the company's rapidly rising AI-related spending commitments, including increased capital expenditure guidance and roughly $825 billion in future infrastructure obligations, which weighed on sentiment despite the earnings beat.
• The ten week for the S&P 500 (^TWSPX) has continued to tick higher and now maintains a chart level of above 50%, signaling a continual increase in near-term participation. The bullish percent for the S&P 500 (^BPSPX) also reversed back up over the past week, signaling an increase in intermediate-term participation.
• On the earnings front, a few major companies are expected to report earnings over the next week: Visa Inc. (V 5/5 TA Score on 10/27), Alphabet Inc. Class A (GOOGL 3/5 TA Score on 10/28), and Microsoft (MSFT 4/5 TA on 10/28).
• Yesterday’s research piece covered the improving relative strength in commodities, highlighting leadership from oil-related exposures such as DBO and showing how a relative-strength rotation strategy has historically outperformed a passive commodities allocation.