This morning we rated the day 58 of 100 — constructive. What happened next is the day, drawn the way it actually flowed, and narrated by Tom.
Overnight, futures pointed down. Then the midterm results landed, and by the 7 AM pre-market read all three had flipped green — Dow futures up more than two percent. That flip set the tone for everything after: the Dow led from the open and never gave the lead back, closing +3.03% — its best day after a midterm election since 1982. The S&P peaked near +1.9% late morning and settled at +1.58%; the Nasdaq added +1.44%.
Two things could have spoiled it and didn't. ISM Services missed at 8 AM, coming in at 54.5 — the market shrugged and kept climbing. And AMD reported blowout earnings after the prior close, yet the stock went nowhere: a reminder that great numbers don't always mean a rising stock. Oil fell about 3% on the day, and the 10-year yield barely budged, ending at 4.90%.
The morning call was 58 — constructive. Verdict: held. The call, then the receipts.
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