Market Update Newsletter Oct. 5 2023
- A Punkrock Capitalist
- Oct 5, 2023
- 1 min read
Market is looking for a green open after yetesredays reversal that ended with all three indexes in the green. The volatility is fueled by less than expected ADP payroll numbers, even though the data should get the Federal reserve to halt raising rates for now.
UAW strike is still going and is still causing layoffs. President Biden might as well make the car manufacturers state owned because there is no way that meeting the UAW demands won't financially ruin the manufacturers. In the end tax payer money will ail them out anyway.
Hyundai and Kia announced their future EV's will have Tesla charging docks. Stock is up on the news.
Stocks I am Watching
Constellation Brands (STZ) reports good quarter shows 8.9% beer growth. This is on the heels of Bud Light losing significant market share for woke missteps.
Clorox (CLX) receives downgrade and several PT reductions. I believe that Covid earnings misled some investors into believing the company could pull these numbers off on any other year. They cannot. Covid earnings will never be back.
Costco (COST) receives 3 PT raises. Doing everything right.
Happy Investing!
The Punkrock Capitalist
Comments