Market Update Newsletter Oct 10. 2023
- A Punkrock Capitalist
- Oct 10, 2023
- 1 min read
Markets closed higher yesterday despite geopolitical tensions as Hamas/Israel war is escalating further. Dow was up .59%, S&P 500 up.63%, and the Nasdaq up .39% while Bitcoin is steadfast in the $27k's. Israel is laying siege on the Gaza Strip, restricting supplies to inhabitants of the strip. Defense stocks are up on the news including L3Harris (LHX) and Lockheed Martin (LMT).
UAW extends strikes to Canada's GM factories. Really feel like General Motors (GM) should have been left to fail in 2008, because if this works its way through the taxpayer will be left holding the bag. Again.
Stocks Im Watching
Pepsi (PEP) kicked off earnings season with a decent quarter and a raise on annual outlook. Stellar.
Palantir (PLTR) scores US Army contract for AI development worth $250 Million bucks. Not high for a military contract but a good sign of things to come.
Defense stocks have been underperforming. The rally fueled by tensions I the Middle East is a welcome reprieve. LHX, LMT, and Raytheon (RTX) are the ones to watch.
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