OP Wire 10/8 (OP – Lite)

By Steve

OP Market Update – Gold Breaks Records, Eyes on FOMC

U.S. stock futures ticked higher early Wednesday as investors weighed surging gold prices and the path ahead for Fed interest rate cuts amid the ongoing federal government shutdown.

By 5:56 ET, futures were modestly green:

S&P 500 +10 pts (+0.2%)
Nasdaq 100 +53 pts (+0.2%)
Dow Jones +76 pts (+0.2%)

⚙️ Market Tone & Tech Pullback

Equities pulled back from record highs Tuesday as traders caught their breath:

S&P 500: –0.4%
Nasdaq: –0.7%
Dow: –0.2%

The dip followed a sharp sell-off in Oracle (ORCL) after reports surfaced that margins in its AI cloud business were thinner than expected. Despite that, AI momentum remains firm — AMD extended its rally following its deal with OpenAI, while IBM gained on its partnership with Anthropic, and Dell climbed after raising long-term guidance tied to AI infrastructure demand.

With the government shutdown delaying key economic data, traders are leaning on alternative indicators. A recent NY Fed survey pointed to weaker expectations ahead and rising inflation forecasts — adding some pressure to sentiment.

🌍 Global Moves & Gold’s Run

Global headlines added to the mix:

New Zealand’s central bank took a dovish turn, while Thailand surprised with a hawkish stance.
France’s political uncertainty eased as election risks declined, while Germany’s industrial production missed expectations.

Meanwhile, gold soared past $4,000/oz for the first time ever — up more than 50% year-to-date, putting it on pace for its best year since 1979. The yellow metal’s rally has been powered by:

Anticipated Fed rate cuts
Weakness in traditional havens like the U.S. dollar and Treasuries
Central bank accumulation — especially the People’s Bank of China, which extended its buying streak for the 11th straight month
Expanding ETF holdings as traders chase safety amid fiscal uncertainty

🏦 FOMC Minutes & Economic Calendar

Traders will zero in on FOMC Meeting Minutes today at 3PM ET, searching for more clarity on the Fed’s policy roadmap following last month’s 25 bps rate cut.

Other key events today:
🇺🇸 Fed Vice Chair Barr Speaks – 9:30AM ET
🇺🇸 Construction Spending (Aug) – 10:00AM ET
🇺🇸 Crude Oil Inventories – 10:30AM ET
🇺🇸 10Y Note Auction – 1:00PM ET
🇺🇸 FOMC Minutes – 3:00PM ET
🇺🇸 Fed Member Kashkari Speaks – 3:15PM ET

💹 Technical Check – $QQQ

The bears are finally testing the bulls after consecutive red days on the $QQQ tech index, which hit a new all-time high intraday at 609.71 before closing at 604.51 (-0.51%).

Key levels to watch:

⚠️ Support: 600 (psychological) → A break below could accelerate selling toward 590–580.
✅ Resistance: 610 → A reclaim above 600 could quickly restore bullish momentum.

Elsewhere in the markets:

Bitcoin: ~$122K/coin
Gold: ~$4,050/oz (new ATH)
Silver: ~$48.3/oz

💬 OP Wins Keep Rolling

Congrats OP! Many of you reached out yesterday after locking in huge profits — with our INTC play up nearly 700%. Several Lifers shared that those gains helped fund new homes, cars, and vacations — life-changing results for traders who stayed focused and followed the OP plan.

At OptionsPlayers, you don’t need endless time or deep pockets — you just need commitment, focus, and the willingness to succeed.

If you want to achieve the same results or need help refining your plan, email steve@optionsplayers.com.

🎯 Today is Secret Sauce Live Stream Trading Day — see you all in chat, Lifers & Gold OP members . Let’s keep stacking those gains™.

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