Breaking Down the Latest Market Trends: October 19 Newsletter
- A Punkrock Capitalist
- Oct 19, 2023
- 1 min read
Markets showed some weakness yesterday and all three indexes closed lower. Dow Jones was down .98%, S&P down 1.34%, and the Nasdaq down 1.62%. Bitcoin is sitting at $27k.
10 year treasuries are at new heights at 4.9% and mortgages reached 8% on Wednesday. High treasury yield are not good for the market because its an alternative to stocks.
Weekly Jobless claims released today are better than expected.
30 year mortgages are highest they been in 23 years. This are the signals I am looking for. The housing market will drop before rising out of the ashes again. I am looking for entry to the homebuyers I mentioned yesterday.
Stocks I am Watching
Tesla (TSLA) misses on earnings and revenue. Furthermore, Musk said the Cybertruck will not be a significant financial windfall for a while. Tough, but expected and I don't see any downgrades yet. Charging technology is industry standard, don't forget that.
Netflix (NFLX) surged 12% after hours on good earnings.
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