The Daily Breakdown takes a look at the current market action, including upcoming earnings from Nvidia and Berkshire’s bet on Alphabet.
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What’s Happening?
We’ve seen similar action over the last two weeks, with a weak market on Thursday, a nasty gap-down open on Friday, and a powerful rally into Friday’s close. Will this week’s events set us on a different course?
Earnings
With its $4.6 trillion market cap and leadership role within the AI movement, Nvidia is set to dominate this week’s earnings lineup when it reports on Wednesday evening. However, reports from other companies are in focus, too.
They include Home Depot and Baidu on Tuesday, followed by Target, Lowe’s, TJX Companies, and Palo Alto Networks on Wednesday. Finally, we’ll hear from Walmart, Gap, and Ross Stores on Thursday. By the end of the week, we should have a pretty good idea on the state of the US consumer — a vital update amid the current economic uncertainty.
Much-Needed Economic Data
On Thursday, we should get the weekly jobless claims report, but more notably, we’ll finally get the September jobs report. The labor market has turned into a concern for investors, as a continued cooling in the jobs market could weigh on the broader economy.
The Bureau of Labor Statistics has not said when the October jobs report — which was supposed to be released earlier this month — will be released, but when it eventually is, it will not include the unemployment rate. Further, the White House has said there will not be an October CPI report. We’re still waiting for an update on other reports too, like retail sales and PCE.
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The Setup — Nasdaq
Many people hear “Nasdaq” and think about the index — either the Nasdaq 100 or the Nasdaq Composite. But many investors don’t realize that Nasdaq is also a company. For some context, analysts expect about 22% earnings growth this year on 11% revenue growth. While shares have pulled back from the August highs, shares of NDAQ are still up about 13% so far this year.
Shares of NDAQ hit a high near $97.50 in August, but have been pulling back over the last few months. The stock has found support just above the 200-day moving average and the prior breakout level near $83. Bulls want to see Nasdaq stock stay above this zone. If it can, a rebound could materialize from this area. If it can’t stay above this zone, further selling pressure could ensue.
Options
As of November 14th, the options with the highest open interest for NDAQ stock — meaning the contracts with the largest open positions in the options market — were the June 2026 $110 calls, followed by the January 2026 $95 calls.
Investors who believe shares will move higher over time may consider participating with calls or call spreads. If speculating on a long-term rise, investors might consider using adequate time until expiration. For investors who would rather speculate on the stock decline or wish to hedge a long position, they could use puts or put spreads.
To learn more about options, consider visiting the eToro Academy.
What Wall Street’s Watching
Warren Buffett’s Berkshire Hathaway quietly scooped up a $4.3 billion stake in Alphabet last quarter, making the company its 10th largest public holding. While Apple remains Berkshire’s largest position — even after Berkshire trimmed it this quarter — the new tech play reflects a shift in the company’s approach. Bank of America and DaVita were also trimmed, as Buffett prepares to hand over the Berkshire reins to Greg Abel. Dig into Alphabet’s fundamentals.
Bitcoin looked to find its footing over the weekend, as the crypto space remains volatile. After the liquidity event in early October, Bitcoin, Ethereum and other cryptocurrencies have lost some of their bullish momentum. With BTC now below $100K, bulls are hoping it can find support somewhere in the $90K range. Check out the charts for BTC.
Disclaimer:
Please note that due to market volatility, some of the prices may have already been reached and scenarios played out.