Market Update Newsletter Oct 9. 2023

A Punkrock Capitalist
Oct 9, 2023
1 min read

Markets ended last week mixed, with the Dow lower, S&P up .48%, NASDAQ up 1.6% and Bitcoin slowly crossing the $27k mark.

Over the weekend Israel declared war on Hamas, an islamic extremist terrorist organization after a gruesome surprise attack that left 700 Israelis dead followed by retaliation with also hundreds of casualties. The situation is ongoing and there is no short term end in sight. Hamas believes that the nation of Israel, along with its non-muslim inhabitants, should cease to exist. This sentiment is shared by most muslim countries in the region.

Fridays job report showed robust hiring for last month, with 336,000 jobs added last month. Good news for the economy. More fuel for the Fed to raise rates. Remember, good news are bad news and bad news are good news.