Daily Update Podcast for Friday October 24, 2025

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Market Summary for Thursday, October 23, 2025:
Outlook for Friday, October 24, 2025:
Thursday Recap:
The S&P 500 experienced a positive day with a broad-based advance, particularly in Mega Caps and Tech, closing up 0.58% on above-average volume.
The S&P 500 opened higher, fluctuated around the 6725 level, hit resistance near 6750, and closed slightly below R1 at 6742.
Despite the uptick, the S&P 500 remains range-bound, showing "treadmill" action with no significant breakout.
Interest rates rose slightly but stayed below 4% for the 10-year yield. Sentiment improved marginally (from 26 to 28) but remains negative.
Geopolitical factors, including sanctions on Russian oil companies (Rosneft, Lukoil), drove oil prices higher, supporting energy stocks.
Earnings reports were received more positively than on Wednesday, with major Mega Cap earnings expected next week.
Existing home sales rose 1.5% month-over-month (annualized 4.06M, above 4.05M expected), supported by lower interest rates.
Equity fund flows favored growth, tech, and financials, with bonds seeing more inflows than stocks.
Key Market Observations:
The S&P 500 is positive across short, intermediate, and long-term time frames but lacks conviction, with choppy, range-bound action.
Individual stocks are driving movement rather than broad index shifts, with low stock correlations signaling focus on sector narratives and fundamentals.
Gold prices are rising amid geopolitical uncertainties, despite stable stock markets and interest rates.
The U.S. government shutdown, now the second-longest.
Technical Indicators:
Positive signals from the Elders Impulse System, Parabolic SAR, and bullish percent indexes across major indices.
Negative signals include the Vortex, ease of movement, and long-term momentum for the NASDAQ 100.
The S&P is more than 10% above its 200-day moving average, indicating potential overextension.
Volume was above average but declined slightly from Wednesday, with mixed signals (price-based indicators up, volume-based lagging).
Friday Outlook:
The markets await the CPI report, which could influence direction: a mixed report may prolong range-bound action, while a hot report could spark fears.
Seasonally, October 24 is neutral to positive for the Dow and positive for the S&P and NASDAQ, though post-election years and post-options expiration weeks lean slightly negative.
Pivot points and resistance at 6750 (S&P) and 47,092 (Dow) are key levels to watch.
Geopolitical developments (U.S.-China trade talks, Russian sanctions) and upcoming Mega Cap earnings could sway sentiment.
Conclusion:
The S&P 500 remains structurally bullish but is stuck in a range with no clear breakout. Positive technicals and seasonality are tempered by geopolitical risks, the government shutdown, and potential CPI impacts. Individual stock movements are currently more significant than index trends, with focus on growth, tech, and energy sectors.