Analyzing the Latest Trends and Insights in the Oct. 23, 2023 Market Update Newsletter
- A Punkrock Capitalist
- Oct 23, 2023
- 1 min read
Markets stumbled last week as a selloff continues. Dow closed down 1.61%, S&P 500 down 2.39%, and Nasdaq down 3.16%. earnings calendar is packed and will throw the market for a loop, still.
This week we'll have earnings from Microsoft (MSFT), Chipotle (CMG), Alphabet (GOOG) among any others.
Israel and Hamas are still at war with Gaza authorities saying 5000 already dead. Israel's goal is to destroy Hamas's military capabilities, which are supplied by neighboring muslim countries.
10 year treasury yield is above 5%. As I pointed out last week, this works directly to lower stocks expectations. Not ideal.
Stocks I am watching
Chipotle Mexican Grill (CMG) gets lowered to Equal weight by Barclays. The company reports earnings later this week.
Salesforce (CRM) downgraded by Piper Sandler to Neutral from Overweight. Makes me wonder if there is low b2b activity going on.
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