KG: Consumer Confidence Grows, New Home Sales Fall; META Slides Despite NVDA Investment

101 right now. 102 I should say Doctor Kevin Green, because we have plenty to get across t morning as far as the data ahead of what is going to be a very big and busy, as I said, 24 to 48 hours here. First and foremost, we areng the October consumer confidence numbers. What are you seeing there? K good morning Sam. We are actually seeing a pretty go bounce back from last month's print. That actually came in at 91.7. The seet was looking for 81.2 in the previous p came in at 84.2. That was revised higher from 81.9 last month. So consumer confidence a really nice jump to the upside here. Now there's several different factors that can actually play into that num Obviously you could have you know stabilization when it comes to gasoline prices. That seems like that has been the case over the last three weeks, fouro have a situation where we kind of got so negative when it came to the confidence of the economy, that a little bit of a bright spot leading into the holiday season here could also impact the n. So this is ac a pretty decent bounce back number. Not a big impact when it comes to the equity markets. I mean obviously it's a little bit more of a shock to the upside rather than the downside. But at the end of the day, maybe we did near-term low when it came to consumer confidence over the last couple of months he Okay. Goodow. And certainly consistent with what you told us as well. Just a slmprovement the albeit still tracking around some of these historical lows. What about new homeales? Because some of that confidence clearly feeding into the housing market as well. Well wes number. Maybe a little bit of a push in the latter half of the season when it comes to new actually came in 700 or, that 676,000 for the month. She was looking for 651,000. The previous print came in at 680,000. That was actually revised lower from 6. So I would say maybe some stabilization. If you're the last month, if you will, we do see a little bit of stabilization bounce back to the upside. Now, we know that mortgage rates are sitting in the 7% level right now. That has also pushed demand to the to the downside. And we also know that the prices for lot oft are being built have also increased to the upside because of tariff policy, as well as the energy logistics problem the are seeing around the world. But overall, this is actually a really good and stabilizing print, would love to see some follow through for next month. All right.o some encouraging prints on the consumer confidence side and the new sales, which as I said in some degree, go hand in hand. Let's switch ge what's going on with technology. More of these financingeals and partnerships. We are keeping an eye on Nvidia andta f course got this deal here, and o be deepening their ties on muse. Part of thatillion equity raise that meta announced yesterday. Just walk us through n because not seeing much of a move in Nvidia. But meta is lower this morning. Yeah. You know meta has not really caught a bid bec of this news around investment from some of peers within the space here. But Nvidia is going to invest $3 billion in meta in that equity offering that once again got readjustedrday, or at least announced yesterday up to $97.5 billion here. Now, the companies will continue to collaborate when it comes to the muse product og and the muse family of models at this point in time. And there's rumors that they are going to also work on some open sour models in future. deployment of the Na Verand its Rubin, as well as the Vera CPUs out there In order for muse to be able to conduct compute not onlye training front, but also on the inference front here. So not saying that this is a circular finan but once again, there's an investment. And then there's also kind of this other deal when it comes to buying hardware that's going to be attached to this.vidia did actually have a really decent run, not only bouncing back yesterday, some follow through . It's paring back a little bit. But when you're looking at meta once again continues to fade to the downside. And unfortunately it really needs to hold the 630 level by the end of this week. Sam. Or we do see a technical breakdown, even a further technical breakdown in the chart. Yeah. And i interesting watching the reaction yesterday when meta announced news. Initially it had come off, but then bounced a bit when they had signalhat there would have been some demand coming from the likes of Nvidia before coming off again throughout the course of the session. So something to watch. And I thatof the other traders technicians have been keeping an eye on some of those levels th mentioned. So worth noting here. Broadly speaking though, I while we seeing some gains, it's pretty range bound. It looks like we are waiting for some direction from these key earnings. And clearly the FOMC not what they're likely to do, but what they're likely to say, if anything, a some potential guide here. But what are you watching as far ashe levels today? Yeah. So from a level we wantedbe able to holde tha was 7700. We continue to talk about that overast two weeks. We were above it to start off the session. We d actually flush it. We're trading at around 7685 right now. A if we con to move lower, you're looking at 76. 60 is your next major area ofsuppoo see buyers stepping in. And if we are able to recover to theupt on the semiconductor trade thatr the most part, the energy namesg a pretty decent bid this morning as well. And then those related to AI like a GE. Ivanova also catching a bid this morning. That so be the only thing that's working at the moment. Right. And just talk to us abou because I said, we are in this familiar sort of just above $100 range righ. I know that a lot of market participants are keeping an eye on these Israeli elections because of the fact that it could certainly influence what potentially the US could do next,en that outcome. But I'm just wondering what headlines we arecking. We had some seemingly positive developments yesterday. It looks like weontinue to see more calls for some mediation and negotiations So what exactly is driving the price action right now? Yeah, I think there's a little bit of optimism that we we might have a near deal in the between Iran and some of the Gulf partners. There was a meeting yesterday with Saudi Arabia, Turkey and some of the others. Turkey is not r so much iMiddle East. It's more Africa, but Asia. But if you're kind of looking at the cr that they agree to at least some Iranians are going to also meet with the Russian counterparts today as well. So we'll keep our eye out on that. There was reports this morning that Houthis did s refinery in Saudi Arabia. So that's also kind of keeping oil pretty muc trading where it's at right now. And then we do have the Israeli elections. I believe the polls closed at 3 p.m. eastern time. But Sam, itould actually take to determine who's the winner there. So because we have a little bit of a complex process. So a lot on the headline front here, oil still above $100, still not good on the inflation picture or for the inflation picture or for consumers. Not something the fed will no doubt be deliberating today, as they are very much going to be meeting and talking about what's going to be tt