Clase de Plata Weekly | Sat, Oct 24, 2026
Meta Spooked Tech, Oil Kept Climbing
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Stocks went up three days, then tech got hit hard. Oil kept rising. The S&P 500 ended the week down 0.5%.
SPY (a fund that tracks the S&P 500) closed Friday at 759.85.
The week in 3 bullets
Three green days. AI stocks bounced Monday. Oil cooled off Tuesday. Wednesday, SpaceX posted its first profit and Super Micro beat. SPY closed Wednesday at 773.10, up 0.53%. Netflix fell 5.3% on a weak forecast.
Thursday, tech got hit. Meta beat, but the stock fell 7% because it plans to spend so much on AI. Chip stocks fell 6.7%, their worst day since June. The Nasdaq fell 2.6% and lost $1 trillion. SPY fell 1.18% to 763.97.
Friday, oil won. Houthi attacks in Saudi Arabia pushed Brent oil to $116.72, up 3.14%. Energy stocks hit a record. Phone stocks sank on a SpaceX report (AT&T -7.9%, T-Mobile -7.7%). SPY closed at 759.85, down 0.54%.
For the week: S&P 500 -0.5%, Nasdaq -0.7%, Dow +0.4%.
Next week: prices and events
Prices to watch:
SPY 759: our line. If it holds, watch 764 (Thursday’s close area). If it breaks, the bounce idea is dead.
SPY 773.10: Wednesday’s close, the top of this week.
USO (an oil fund) 169.54, up 4.32% Friday.
GLD (a gold fund) 366.61. TLT (a bond fund) 81.34.
Big events (times ET):
Mon: Verizon results before the open. Chicago Fed (8:30) and Dallas Fed (10:30) reports. A 2-year Treasury note sale at 1:00. Cadence, Nucor, Welltower and Public Storage after the close.
Mon overseas: Germany’s business survey and a big China policy meeting.
Tue–Wed: The Fed meets Oct 27–28 to decide on rates. As of Oct 19, traders saw about an 84% chance of no hike.
Moody’s verdict on France’s credit rating was due Friday night. Result: TBD.
Rest of the week’s events and forecasts: TBD.
Scanner Spotlight: $LULU (Lululemon)
Our latest real long-term pick, from Sunday, Oct 11 (13 days old). Our Oct 18 check found no new name.
What we saw (Oct 11): LULU was about $94.50, about 58% below its 52-week high of $225.98. Free cash flow (cash left after paying bills) was about $1.35B. On Oct 23 it closed at $99.04, up 4.8%.
What it might mean (our view): A good brand can have a bad stretch. Cash is still coming in, so we think the damage is temporary.
What it can’t tell us: Whether sales come back. Americas sales fell 8%, and the company cut its Q3 margin guide to 6.5% from 17%. If Americas keeps falling and cash flips negative, the idea is dead.
Riskier pick: $RKLB (Rocket Lab)
Rocket Lab sends small rockets to space and builds satellites and parts for space and defense. It closed at $52.59 on Oct 23, way off its 52-week high of $151 (May 27).
Why it could grow: More stuff goes to space every year, and Rocket Lab sells both the ride and the gear.
The big risk: It still loses money, and it swings hard. It went from $37.57 to $151 and back to the $50s in one year. One failed launch or rocket delay can knock it down fast.
How to play it safer: Keep it small, like 1–2% of your money. Buy in 3 pieces over a few months, not all at once.
Beginner Lesson: Good news isn’t always enough
A stock moves on what people expect next, not just on what already happened.
Meta beat its numbers this week. The stock still fell 7%, because it plans to spend big on AI. Netflix fell 5.3% because its forecast was weak.
So when a company reports, look at two things: the results, and what it says about the future.
Process over prediction. No chasing.
This newsletter is for informational purposes only and does not constitute investment advice. Clase de Plata is not a registered investment advisor. Do your own research.
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