Boeing beat Northrop Grumman to win the US Navy next-generation fighter contract with an initial ~$20 billion, and NASA granted a second chance for Starliner; its defense and government programs remain rock-solid. Although the stock opened high and closed low, the host says it is normal for Boeing's positive catalysts to be delayed to the next day, so he is bullish on BA short-term (he disclosed holding 20 shares).
In September and Q3, the median S&P stock fell far more than the index, with market breadth extremely diverged and far more decliners than advancers. Historically, when the S&P itself did not decline, laggards often later turned around; the host hopes poorly performing stocks will at least stabilize in Q4 and ideally rebound by year-end.
Combining the ADP and JOLTS data, the US labor market has not deteriorated; employment data supports the Fed raising rates without worrying too much about job losses, implying a hawkish policy stance that pressures equities.
Micron's earnings significantly beat expectations, but the stock only rose slightly in after-hours trading; the host feels the market is looking for an excuse to sell off sharply. Since the host still holds Micron at a profit, a post-earnings reversal would erase that profit, making him bearish on Micron's near-term price action.