Pages







In this edition
- Friday's close and market health
- Week ahead and economic calendar
- The Week's Standout
- Reporters: earnings season, in plain words
- Engine List
- The close
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THE WEEK AHEAD · Sunday edition
· Basic edition
Tech led Friday's drop: the S&P 500 fund fell 1.77% on Friday and 0.56% on the week, while small caps rose 1.30%. This week brings the midterm elections on Tuesday and the October jobs report on Friday, with ten of the names we track reporting earnings. Sunday futures reopened higher — S&P 500 futures +0.25%, Nasdaq-100 futures +0.36% and Dow futures +0.19% at 6:06 PM ET.







The full text of this Basic edition, for readers and search engines — the paged edition above stays the canonical visual.
01
Friday's close and market health
Every figure is Friday's close (Fri Oct 30). Week change runs from the Friday Oct 23 close.
S&P 500 fund (SPY)
−1.77%
−0.56%
Nasdaq-100 fund (QQQ)
−3.47%
−1.97%
Dow fund (DIA)
−1.07%
−0.81%
Russell 2000 fund (IWM, small caps)
−1.65%
+1.30%
VIX (fear gauge)
+12.91%
−0.15%
10-year Treasury yield
−0.4bp
−6.6bp
U.S. oil futures (front month)
+2.08%
+0.82%
Gold futures
−3.29%
−2.72%
Sunday evening, 6:06 PM ET, change from Friday's close S&P 500 futures +0.25%; Nasdaq-100 futures +0.36%; Dow futures +0.19%; U.S. oil futures −1.56%
Tech gave back the week Worries about how much big tech is spending on AI hit chip and software stocks Friday. The Nasdaq-100 fund lost 3.47% on the day and 1.97% on the week. A large chipmaker's warning late Thursday added to the pressure.
The Fed held, with two votes for a hike The Fed kept rates at 3.75% to 4.00% on a 10-2 vote. Both members who disagreed wanted a hike, not a cut.
Data mostly on forecast PCE inflation and the employment cost index came in on forecast, and GDP beat. The 10-year yield fell 6.6 basis points on the week. Gold fell 2.72% on the week.
The Degenerates Journal · Sunday Basic · Sunday, November 1, 2026 · For research and education purposes only.
Big companies we track that fell Friday
78%
Our universe above the 50-day
34.0% at Friday's close, down from 47.2% Monday
average
morning
Our universe up for the week
37.7% up, 62.3% down
VIX for the week
−0.15%
Fewer names are holding above their 50-day average than a week ago. Friday's drop was broad, not just a few big names. The fear gauge jumped Friday but ended the week about where it started.
02
Week ahead and economic calendar
Week of Nov 2 to Nov 6, 2026; all times ET
The week ahead, in plain words Clocks fell back an hour Sunday, so every time below is Eastern Standard Time. Tuesday is Election Day for the midterms. The week ends with the October jobs report, the biggest data point before the Fed meets again. Ten of the names we track report earnings.
Our 3 themes for the week 1. Whether tech spending worries spread or settle Friday's slide started with big tech's spending plans. A calm week would say it was a oneday shake. More selling would say the market wants proof of a payoff first. 2. What the jobs data says for the Fed Two Fed members wanted a hike last week. A hot jobs report Friday would back them; a soft one would ease that pressure. 3. How markets read the midterm results Tuesday's results could shift the outlook for taxes, spending and rules. Markets often move most on surprises, not on the expected result.
The Degenerates Journal · Sunday Basic · Sunday, November 1, 2026 · For research and education purposes only.
DAY
Mon
10:00 AM
ISM manufacturing
Health of factories
Mon
10:00 AM
Construction spending
Building activity
Tue
All day
Midterm elections
Policy outlook
Tue
10:00 AM
JOLTS job openings
Demand for workers
Wed
8:15 AM
ADP payrolls
Private hiring preview
Wed
10:00 AM
ISM services
Health of services, most of the economy
Thu
8:30 AM
Jobless claims
Layoffs, week by week
Thu
8:30 AM
Productivity, Q3
Output per hour worked
Fri
8:30 AM
October jobs report
Prior: +29,000 jobs, 4.2% unemployment
Fri
10:00 AM
Consumer sentiment
How households feel
All times Eastern Standard Time (clocks fell back Sunday). Times are scheduled and can change.
B E G I N N E R ' S C O R N E R : W H AT T H E J O B S R E P O R T M E A S U R E S
The monthly jobs report counts how many jobs U.S. employers added and what share of people looking for work cannot find it (the unemployment rate). Strong hiring can push yields up, because it makes rate cuts less likely. Weak hiring can do the opposite. One month can be noisy, so watch the revisions to earlier months too.
The Degenerates Journal · Sunday Basic · Sunday, November 1, 2026 · For research and education purposes only.
03
The Week's Standout
Intel (INTC): a 28.58% one-day drop on a weaker outlook Intel designs and makes computer chips. After its report Thursday night (Oct 29) it cut its fourth-quarter outlook and warned it will burn cash this year. The stock fell 28.58% Friday, on more than three times its usual volume. The business is still growing. Sales over the last four quarters rose 12.1%, with a 39.9% gross margin and a little more cash than debt. So why the drop? The stock ran up 41.5% from May 1 to its June 22 peak close, then met a weaker outlook on a day chip stocks were already under pressure. Since May 1 it is down 34.0%; the S&P 500 fund is up 4.9%. In plain words: growth on paper helps little when the company says the next quarter looks worse.
The numbers behind it
Friday, after the report
−28.58%
Free cash flow margin
6.3%
Week, to Friday's close
−24.38%
Return on capital
−1.2%
Sales growth, 4 quarters
+12.1%
Below 52-week high
53.8%
Gross margin, 4 quarters
39.9%
Since May 1
−34.0%
The Degenerates Journal · Sunday Basic · Sunday, November 1, 2026 · For research and education purposes only.
04
Reporters: earnings season, in plain words
Counts and percents only
Ten of the names we track report this week, from Monday evening to Friday morning. One of them is on Friday's Engine List. Over recent reports, our record of how big the post-earnings moves were stands even: 6 bigger than usual, 6 smaller.
Tracked names reporting this week
10
Monday, after the close
Tuesday, before the open
Tuesday, after the close
Wednesday, before / after the close
1/1
Thursday, after the close
Friday, before the open
05
Engine List
Friday's list, Friday's close
APH
−3.39%
−2.59%
ENB
+0.39%
+2.45%
−1.55%
+1.75%
ADP
+2.71%
+5.98%
−5.48%
−7.58%
−3.86%
−1.69%
+0.85%
−1.63%
CRM
−0.75%
−4.07%
Friday's Engine List, with Friday's move and the gap to each name's 50-day average at Friday's close. Three of the eight closed Friday above that line.
The Degenerates Journal · Sunday Basic · Sunday, November 1, 2026 · For research and education purposes only.
06
The close
Does the S&P 500 fund close Friday, Nov 6, above this Friday's close? Basis: the S&P 500 fund's close on Friday, Oct 30. Yes if it closes Friday Nov 6 above that close; no otherwise. Either way: a yes says Friday's slide was a one-day shake; a no says the spending worries are still in charge.
“The individual investor should act consistently as an investor and not as a speculator.” Benjamin Graham, The Intelligent Investor A week with an election, a jobs report and a pile of earnings will tempt fast moves. Graham's point: decide what you are before the noise starts. That's the week ahead. The weekday Basic tags one of our three themes each morning, and Friday's Week Close grades all three.
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For research and education purposes only. Not financial advice. May contain typos. Prices may be delayed depending on when the data was collected. © 2026 The Degenerates Journal. All rights reserved.
The Degenerates Journal · Sunday Basic · Sunday, November 1, 2026 · For research and education purposes only.
Position disclosure — checked November 8, 2026: of the names covered in this edition, the desk currently holds AVGO. The desk’s current position book (QCOM · AVGO · TSLA · GOOGL · SNDK · MU) prints in the open in the current editions; see Methodology & Disclosures.
For research and education purposes only. Not financial advice.
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