Market Update Newsletter 9/14/23

A Punkrock Capitalist
Sep 14, 2023
2 min read

Yesterday the NASDAQ was up .29%, Dow Jones down .2%, S&P 500 up .12% and Bitcoin (BTC) is at $26k.

The market is torn between believing the Fed will not raise rates again this year. They will. At least once. So whatever you believe, know that we will see a .25% increase by the end of the year.

Oil prices are still going up $90 a barrel for WTI. Production cuts fro oil producing countries will guarantee a higher oil price in the future. Maybe an era of more expensive oil is upon us. This is because we stopped treating it as a rarity. Because it really isn't. Nothing is extracted as much as oil from this planet, still hasn't run out. Could it run out one day? Maybe, but until then oil stocks will continue to pay you.

UAW say Jim Farley CEO of Ford, is not taking negotiations seriously. Deadline is Today! Wouldn't be surprised to see Farley fold like a pair of twos. They don't want to let it come to a strike because then you really have to offer something to get them back to work. Right now they're still working. This will not be the last big strike. President Biden basically said he is on the side of every union. The unions know and use this.