Market Update Newsletter 9/15/23

Yesterdays markets rallied 300 points. With Dow Jones up .96%, S&P 500 .84%, Nasdaq .81%. Bitcoin sitting at $26k

August PPI data indicated that inflation is still on the rise. .7% in August to be exact, Core PPI increased by 0.2%. Not promising but its still being hailed as decelerating. Which is technically true, but not good. I foresee another Fed rate hike this year.

United Auto Workers (UAW) walked out the job yesterday and are now to the picket lines, demanding more salary among other things. 146,000 workers are on strike across three carmakers. Not ideal.

Stocks I am Watching Today

AirBnB (ABNB) raised to $126 with a Buy rating. Higher gas prices could make vacationers stay closer to home and maybe get an ABNB instead of an Europe trip?

Adobe (ADBE) rightfully getting its share of the AI hype. Stock received a number of raises.

Emerson Electric (EMR) gets a Buy from JP Morgan. Everybody and their momma is in this one. You decide.

Palantir (PLTR) and Snowflake (SNOW) get initiated with Hold and Buy rating respectively. Im a believer in both.

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