Tale of the Tape

Good evening, y’all. We made it to Friday. Yay!

This week was the 4th worst week for the S&P 500 so far this year. It was the worst since the week of March 16, 2020. Yikes.

The Nasdaq fell 2.5% while the Dow only dropped 0.59%.

Energy led the sectors. Exxon and Chevron reported earnings early this morning. See more below. 

Consumer discretionary and tech both lost 2%. 

The CDC set guidelines for cruises to cruise. No date was provided but the stocks sailed.

CCL +5.6% | NCLH +5.5% | RCL +4.8%

Twitter tumbled 21%. 

Here are the closing prints: 

S&P 5003,269-1.21%
Russell 20001,538-1.48%
Dow Jones26,501-0.59%

Earnings Round-Up

Exxon Mobil reported earnings early this morning. The oil giant saw revenue drop 29% YoY. 

Here are the numbers:

EPS: -$0.18 vs -$0.24 est.
Revenue: $46.2B -29.0% YoY

$XOM fell 1%.

Chevron also reported earnings early.

Here are the numbers:

EPS: $0.11 vs -$0.27 est.
Revenue: $24.45B -32.3% YoY

$CVX gained 1%.

Chevron and Exxon make up nearly 50% of $XLE. The energy ETF is down 34% in the last 10 years… oof. 

Texans Are Voting Early

As of this morning, Texans cast over 9 million early votes which is more than the total votes in 2016. 🤯

No Democratic candidate has won the Lone Star State since 1976, but VP nominee Kamala Harris will stop in Houston and McAllen to address voters. 

The election is in 4 days. Be safe y’all.

Here’s the WSJ with live election coverage.

And here’s a cool graphic from the Washington Post:

Weekly Charts

The end of the week means completed weekly charts. 

Here are a few that caught our eye:

Utilities were the only green sector in the month of October. $XLU managed to close above its August 2020 highs. 

Here’s the weekly chart:

Twitter tumbled 21% today. The company reported earnings yesterday after the close.

Here’s the weekly:

Bitcoin is pressing on its 2019 highs. Is it only a matter of time till Bitcoin breaks out? Place your bets…

Here’s the weekly:


Hennessey Performance Engineering announced a 750-HP Ford Bronco VelociRaptor V8.

John Hennessey, company founder, and CEO is pumped about the project. He said:

I wanted to build the ultimate Ford Bronco for myself and for our customers. The 2021 Bronco may be one of the most highly desired vehicles since the introduction of the Ford GT. We look forward to taking the new Bronco to the next level and beyond.

The prehistoric behemoth is supposed to go 0-60 MPH in 4.5 seconds and will be exclusive af. The VelociRaptor will be 1-of-24 and will cost a cool $225,000.

Here’s Hennessey Performance with more.

John, one question for you. Can you make an electric one? Please… ? 🙏

Steve Cohen Is In

Steve Cohen was approved to take reign as the owner of the New York Mets. 

MLB Commissioner, Robert Manfred, Jr. said:

On behalf of Major League Baseball, I congratulate Mr. Cohen on receiving approval from the Major League Clubs. Steve will bring his lifelong passion for the Mets to the stewardship of his hometown team, and he will be joined by highly respected baseball leadership as well. I believe that Steve will work hard to deliver a team in which Mets fans can take pride.

Here’s Steve’s statement:

via Bob Nightengale

Income Increases 

Personal spending increased 1.4% this September following a 0.9% boost in U.S. income. 

Wage and salary was also up 0.8% last month, slashing personal saving rates by 19.3% since April. 

Here’s the chart. 2020 😅 

Check out the U.S. BEA for more info. 

Links That Don’t Suck

🆕 IPOs Keep Rolling Despite Stock Market Volatility

🎨 Mario Giannini on the Art of Investing

🙇‍♀️ Identify that Sixth-Sense for the Market

🕵️‍♂️ Friday Finds via David Perell

🎧 Out of Office: Maria Sharapova

👀 Rojkind Arquitectos Unveils Ummara Resort with 28 Villas in Mexican Hills

✏️ How Bridgewater Associates Cultivated a Unique and Powerful Edge