Analyzing the Market Trends: October 16, 2023 Market Update Newsletter.
- A Punkrock Capitalist
- Oct 16, 2023
- 1 min read
Last week ended mixed with Dow up .79%, S&P 500 up .45%, and the Nasdaq down .18%. Futures are green. Bitcoin climbed its way back to $27k.
This week is official beginning of earnings season with Goldmans Sachs (GS), Tesla (TSLA), and Netflix (NFLX) among others.
Israeli Defense Forces (IDF) has laid siege on Gaza and is now controlling the area. Situation is evolving but we won't be surprised to see whom comes out victorious.
Stocks I a Watching
Microsoft (MSFT) has Activision (ATVI) in the bag after EU regulators give the green light. We are likely looking at the biggest gaming company ever created. Stock received $370 PT.
Instacart (CART) initiated by a plethora of analysts with not a single bad rating under them!
D.R. Horton (DHI) upgraded to Buy by Golden Sachs analysts with a $131 PT. Quite a few points above its current price. Is housing showing signs of bottoming? Not as long as rates are going up. I don't see more than two hikes before we start lowering. When this happens it will supercharge the housing market for a moment.
Pfizer (PFE) is down on lowering full year guidance $9 Billion bucks due to shortage of demand for Covid products. Demand will never be back.
Lululemon (LULU) will be included in the S&P 500 on Wednesday after the Activision departure. That means the stock will automatically be included in many ETF's, making the stock more stable.
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