Schwab Network

On Holding (ONON) is leading its biggest rivals in consumer demand, including Adidas (ADDYY) and Nike (NKE), according to LikeFolio's data. Andy Swan explains how the company's latest initiatives, including signing Kylian Mbappé, offers long-term growth potential that give On a chance to become the next "cult-like brand." LikeFolio's data shows how a buy opportunity for the stock is opening as the gap between price and demand widens.

Costco (COST) moved higher on Friday following an earnings beat that signaled resiliency amid greater economic uncertainty. However, as Mel Casey notes, membership numbers are what matter the most to analysts to gauge guidance. A slowdown in new memberships initially sent shares to the downside, leading Mel to highlight the importance of a widening K-shaped economy. Jharonne Martis explains how Costco's report gives us a chance to look through a "fascinating window" into the state of U.S. consumer minds.

Sarah Henry discusses the "really interesting gap" between "what consumers say and what they do." As she explains, the disconnect comes from waning sentiment amid still strong spending, even if that spending becomes pickier. Sarah makes the case that the trend isn't a new one as she takes investors through data since 2019. McDonald's (MCD) value pivot is one Sarah focuses on more, explaining how the company serves as a barometer to U.S. consumers even as its stock hits 4-year lows.

The stock market has become "one-dimensional," argues Tim Bohen (@stockstotrade), pointing to the AI trade single-handedly pulling the S&P 500 (SPX) and Nasdaq-100 (NDX) toward record highs. That said, he sees several trading opportunities in the tech sector. Tim believes AMD Inc. (AMD) will benefit from parabolic AI compute demand, sees StablecoinX (USDE) as an aggressive play on Bitcoin's rally, and expects Meta Platforms (META) to benefit strongly with Muse AI. Rick Ducat offers technical analysis in all three stock charts to add color to Tim Bohen's bullish outlook.

Eddie Ghabour of Key Advisors Wealth says his firm has deployed "a lot of cash" since the Fed's interest rate hike last week. He sees bullish opportunities ahead, noting a surge in volume from last Friday's trading session as a signal bulls are taking back the wheel on Wall Street. Eddie expresses why he's "cautiously optimistic" into Micron (MU) earnings next week as bearish sentiment lingers around the AI memory trade. As for general market moves, Eddie says we're "one headline away" from oil plunging back to $60, urging caution in macro risks when managing your portfolio.

While most of the Mag 7 have recently reestablished leadership in the stock market, Amazon (AMZN) has lagged in recent weeks since hitting all-time highs in early August. Kai Wu says the stock has the "most interesting set-up" of the group. He says the fundamentals for the ecommerce giant remain strong, it's the AI CapEx that Kai believes ignites investor concerns. He makes the case that Amazon's "very tangible" investments into data centers keeps the company toe-to-toe with competitors like Microsoft (MSFT), Alphabet (GOOGL), Meta Platforms (META), and even SpaceX (SPCX). George Tsilis offers an example options trade for Amazon.

Collin Martin (@CharlesSchwab) sees one more interest rate hike from the Fed with a second "very likely" before the end of 2026. He outlines his case for further hikes and offers a closer look into the "junk bond" market, which has seen more interest during the AI buildout. Alexandra Semenova makes the case the rate hiking cycle will be a shallow one but expresses concerns for waning market breadth. She also discusses the 10-year Treasury yield hitting 5% after rising for seven consecutive months. That said, strong earnings and economic growth don't flash warning signals yet.

A new seven-year deal between Anthropic and Akamai (AKAM) sent shares for the latter higher on Friday's session thanks to the deal's $11.6 billion price tag. Marley Kayden offers more details on the agreement and why it's a big deal for the greater AI trade. Dan Deming offers an example options trade for Akamai.

Earnings expanding at a "historic rate" is what Ahmed Reisgo points to as the key driver to lasting market momentum even as Treasury yields spike. He also brushes back concerns that the U.S. economy is "overheating" despite the earnings uptick. On the Fed, Ahmed makes the case that the committee will make a "mistake" to hike interest rates as much as markets are pricing in. "Not all parts of the economy are on stable footing," says Ahmed, points out ways that a rate hike will undercut the components currently working.

September's consumer sentiment report was better than expected but still fell from August. Kevin Green notes that the figures dragged down the major indexes and explains why the report is so significant to investors. He also talks about the flat durable goods orders print that underwhelmed investors ahead of Friday's opening bell. As for crude oil, KG points to the latest headlines leading to a small dip in prices, though his focus lies primarily in diesel and a potential rollover for that commodity.