EB Daily Market Report - Friday, October 24, 2025

Dear Members.

First, you are invited to a live streaming event tomorrow: "2 Drivers of Market Gains" featuring Tom Bowley. The session will begin at 10:00 am eastern and you will receive room instructions prior to the event. In addition, Tom will be conducting the quarterly Q3 earnings webinar on Monday and you will receive instructions for that event as well.

The bulls are cheering a slightly better than expected inflation report this morning with all of the major indexes printing new all time highs.

The move higher today comes ahead of next week's Federal Reserve meeting where it's pretty much guaranteed that we'll see a 25 basis point interest rate deduction. And also on tap earnings reports from the biggest tech stocks out there including Amazon, Apple, Google and Meta. Throw in a planned meeting between the two most important world leaders and it's tough to be bearish.

Also, look how the VIX has totally retreated from last week's high near 29 to a low today near 16. In other words, whatever fear existed last week is history.

Of course as we enter next week there's always the possibility of some "sell on the news" but that's not what the bulls are thinking today. Instead, they are thinking of even higher prices, and with the S&P over 6800, why not 7000 as the next target?

Bottom line is the market is firing on all cylinders. Yes, we could get a pullback at anytime, but right now the mentality is to buy on any dips with the bulls fully in charge.

Tom will be back with his Weekly Market Report on Monday.

At your service,

John Hopkins