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This Week’s Market Recap… 📊

It’s been an eventful week, with earnings season in full swing and multiple key economic reports shaping market sentiment.

The U.S. consumer remains resilient, with the financial sector kicking off earnings season on a high note. Major banks, including JPMorgan Chase, Goldman Sachs, Morgan Stanley, and Bank of America, all posted better-than-expected earnings.

Bank of America CEO Brian Moynihan even noted in a CNBC interview that the consumer remains strong and is still spending at healthy levels. This optimism was reinforced not only by solid bank earnings but also by retail sales data, which came in hotter than expected at 0.4% growth for the month, surpassing the 0.3% forecast.

The combination of strong consumer spending and bullish sentiment is driving the market upward. As earnings season continues into next week, we will get an even clearer picture of how the broader economy is faring, particularly from a consumer perspective.

Despite typically sluggish September and October markets, the current rally has defied historical trends.

All major indexes have surged to new all-time highs, with small-cap stocks leading the charge and showing the potential to carry that momentum through the remainder of the year.

Some analysts are now predicting that the S&P 500 could reach 6,100-6,275 by the end of 2024, adding further fuel to the optimistic outlook. With this backdrop, it's a good time to explore opportunities and consider positioning yourself for the continued market upswing!

🚨Top Stocks on our Radar…

Taiwan Semiconductor ($TSMC) reported Q3 revenue of $23.5 Billion, up 36% Y/Y. $TSMC rallied 10% after the report and stated that they see demand for AI chips for many years to come.

Taiwan Semiconductor is the main supplier of AI chips to Apple and NVIDIA.

Top ETFs on our Radar… 📈

T-Rex 2X Long Bitcoin Daily Target ETF ($BTCL) was one of the top-performing ETFs this week gaining 22.87%.

Bitcoin began to break out this week, and $BTCL was able to perform strongly due to its 2X leverage to Bitcoin. $BTCL is a great ETF to use when trading crypto with leverage.

Tune in every Monday and Friday for in-depth Market Analysis, Recaps, and a featured Stock & ETF.

Thanks for reading and have a great week!

-Ryan

@Theinvestingauthority