Market Update Newsletter (Abridged ) 9/19/23

Markets closed very flat yesterday. Bitcoin (BTC) was sitting at $26k. Futures are little changed in anticipation of the Fed meeting the week. Consensus is, there will be no hike. But raising is not done this year, if you ask me.

UAW strike is going and will hurt automakers, workers, and the economy. The demands the UAW has could potentially double the production cost of a car.That is unsustainable in a profit model. Layoffs have already begun in non-union departments. The unions are emboldened by President Biden Pro union rhetoric.

Stocks I am Watching

Evercore downgrades Deere (DE) to "in line" citing agricultural production cuts? What does that mean? Who is cutting and why?

Starbucks (SBUX) down on downgrade citing China worries.

GE Healthcare (GEHC) initiated with a Buy, PT $82. Good call.

Palo Alto Network (PANW) raised by Citi Bank with a PT of $260-$285. Bingo!

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